- SBA Governance
- Access to Finance
- Women Entrepreneurship
The objective of the Access to Finance for MSMEs activity is to raise awareness and share information and good practices among all MED countries about existing public policies, mechanisms and instruments supporting MSMEs financial needs for development (e.g. guarantees, risk capital, and microfinance). This activity on access to finance was highly stressed by all SBA coordinators as a key element of the Project’s success.
The Project’s goal in this respect is to contribute unlocking Access to Finance for MSMEs (A2F) in the MED region, as current studies clearly indicate that access to finance remains insufficient compared to overall MSMEs needs (in most MED countries, less than 20% of credit financing goes to MSMEs). Implementing such policies would expand the private sector through the development of more robust, inclusive and sustainable growth, by raising MSMEs capacity, creating employment and improving competitiveness.
One fundamental feature of this activity is the creation of a “Working Party on Access to Finance”, composed of one high-ranking responsible per MED country with strong technical expertise in the area of finance. Close collaboration with national technical experts is viewed as a very important parameter in structuring the Euro-Med industrial cooperation dialogue to tackle technical issues in the A2F domain, offer tailored solutions to the expressed needs of their MSMEs and design and implement effective policy recommendations.
More information on how this activity was deployed are provided in the activity concept paper below.