MSME Access to Finance for Inclusive and Sustainable Growth - Stimulating MSME Growth in the MED Region
Brussels, 24 February 2016
High-level regional seminar on Access to Finance for Inclusive and Sustainable Growth - Stimulating MSMEs Growth in the Mediterranean Region
A high-level seminar on Access to Finance for MSMEs was held on 24 February 2016 in Brussels.
The seminar’s objective was to identify the items on the agenda of reforms needed to foster the financial inclusion of MSMEs (micro, small and medium enterprises) and enhance their contribution to job creation. Public policies and instruments play a key role in initiating and advancing these reforms.
This regional seminar is related to the “EU Initiative for Financial Inclusion in the Mediterranean” aiming at mobilising more than €1.6 billion to help translate into action the reform agenda in support to MSMEs development. Initiated by the European Commission in partnership with EU financial institutions, such as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the German KfW Development Bank, the French Development Agency (AFD), and others actors committed to inclusive and sustainable economic development in the Mediterranean region (MED).
Policymakers, bankers, entrepreneurs as well as representatives of the private sector, EU financial institutions, think tanks and of civil society from the MED region and EU countries discussed solutions and reforms needed to unlock access to finance for MSMEs in the MED region.
Based on real-life experience of entrepreneurs as well as on the results of the EBESM study entitled “Assessment of Mediterranean countries’ policies to facilitate access to finance for MSMEs”, participants debated how to overcome the obstacles and challenges that hinder MSMEs access to finance. They made recommendations, including on public policies, regulatory mechanisms and an enabling environment to enhance financial inclusion for MSMEs in the region.
Participants highlighted the fact that national specificities should be taken into account to implement actionable recommendations and policy reforms in this area. In this respect, EBESM will closely work with stakeholders in each country and provide support to develop tailor-made action plans.
The seminar provided also an opportunity to examine the type of support needed from the European Commission and its partners, the European financial institutions, to help them implement these reforms.
For further reading please consult the following documents :
 This seminar follows up on the first regional working meeting on “Access to Finance” that took place in Brussels on 24 November 2015, and was organised back-to-back with the Euro-Mediterranean industrial cooperation working meeting (23 February 2016).