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Credit Guarantee Schemes For Small And Medium Enterprises
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Book Synopsis Financing Small and Medium-Sized Enterprises in Asia and the Pacific by : Asian Development Bank
Download or read book Financing Small and Medium-Sized Enterprises in Asia and the Pacific written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-03-01 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: Small and medium-sized enterprises (SMEs) are widely regarded as the backbone of economies and make a unique contribution to gross domestic product, exports, and employment. Yet, SMEs face multiple challenges in gaining access to finance that can fuel their growth. This publication scrutinizes the multiple factors affecting SMEs’ access to finance and the impact of credit guarantee schemes (CGSs), examines country case studies from across the globe, and highlights the financial and economic additionality of CGSs when they are rigorously setup. To support Asia and Pacific economies, the publication suggests operational policy recommendations for the key priority areas of CGSs, focusing on legal and regulatory setup, corporate governance, services offered, risk management, and monitoring.
Book Synopsis Credit Guarantee Schemes for Small and Medium Enterprises by : Jacob Levitsky
Download or read book Credit Guarantee Schemes for Small and Medium Enterprises written by Jacob Levitsky and published by . This book was released on 1987-01-01 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credit Guarantee Institutions and SME Finance by : Paola Leone
Download or read book Credit Guarantee Institutions and SME Finance written by Paola Leone and published by Springer. This book was released on 2012-01-17 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses and confronts the functioning of guarantee systems for SMEs in countries where these schemes had an important development. The book also highlights how the current financial crisis is modifying the guarantees schemes, through policy maker interventions.
Book Synopsis The Role of Credit Guarantee Schemes in the Development of Small and Medium-sized Enterprises with an Emphasis on Knowledge-based Enterprises by : Roohollah Aboojafari
Download or read book The Role of Credit Guarantee Schemes in the Development of Small and Medium-sized Enterprises with an Emphasis on Knowledge-based Enterprises written by Roohollah Aboojafari and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Small and medium-sized enterprises (SMEs) in their growth stage reach the point where, on the one hand, personal resources do not meet their needs, and, on the other, they do not have enough collateral to attract external finance. Access to finance can be facilitated by obtaining loans from financial institutions backed by governmental credit guarantees. Therefore, the development of a sound credit guarantee scheme will be an important step in filling the financing gap of SMEs. We investigate the situation of the credit guarantee scheme for SMEs in Iran by using the available data and interviews with activists from this field with the grounded theory method. We show the weaknesses of the Iranian credit guarantee scheme, and based on the analysis, present solutions and policy recommendations in accordance with the social and economic environment of the Islamic Republic of Iran. The most important problem is the lack of a credit database for comprehensive assessment of SMEs, especially knowledge-based enterprises. The lack of a robust database makes it impossible to carry out a comprehensive evaluation because these models require a large amount of data. The lack of accurate models makes it difficult to rate credit status and thus to issue credit guarantees. In addition, the current level of the capital of the credit guarantee funds in Iran is not sufficient given the large number of SMEs in the country.
Book Synopsis Unlocking SME Finance in Asia by : Naoyuki Yoshino
Download or read book Unlocking SME Finance in Asia written by Naoyuki Yoshino and published by Routledge. This book was released on 2019-07-01 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is limited access for small and medium-sized enterprises (SMEs) to bank credit. This book proposes new and sustainable models to help ease the access of SMEs to finance and boost economic growth and job creation in Asia. This book looks at the difficulties of SMEs in accessing finance and suggests ways on how to mitigate these challenges. It suggests how we can develop credit information infrastructures for SMEs to remedy the asymmetric information problem and to utilize credit rating techniques for the development of a sustainable credit guarantee scheme. The book provides illustrations of various Asian economies that implemented credit guarantee schemes and credit risk databases and is a useful reference for lessons and policy recommendations.
Book Synopsis Principles for Public Credit Guarantee Schemes for SMEs by : Weltbankgruppe
Download or read book Principles for Public Credit Guarantee Schemes for SMEs written by Weltbankgruppe and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to finance, particularly credit, is widely recognized as problematic for small and medium enterprises (SMEs), hampering their growth and development. To address this challenge, many governments around the world intervene in SME credit markets through credit guarantee schemes (CGSs). A CGS offers risk mitigation to lenders by taking a share of the lenders' losses on SME loans in case of default. CGSs can contribute to expand access to finance for SMEs. Yet they may bring limited value added and prove costly if they are not designed and implemented well. There have been efforts in recent years to identify good practices for CGSs, but the international community still lacks a common set of principles or standards that can help governments establish, operate, and evaluate CGSs for SMEs. The Principles for Public Credit Guarantees for SMEs are filling this gap. The Principles provide a generally accepted set of good practices, which can serve as a global reference for the design, execution, and evaluation of public CGSs around the world. The Principles propose appropriate governance and risk management arrangements, as well as operational conduct rules for CGSs, which can lead to improved outreach and additionality along with financial sustainability. Developed through extensive consultations with stakeholders, the Principles draw from both the literature on good practices for CGSs and sound practices implemented by a number of successful CGSs around the world.
Book Synopsis Credit Guarantees by : Michael Gudger
Download or read book Credit Guarantees written by Michael Gudger and published by Food & Agriculture Org.. This book was released on 1998 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problem of collateral is a daily issue for lenders and causes much debate in the development finance community. Given the difficulties experienced in arranging traditional forms of loan security, such as land or chattel mortgages, various collateral substitutes have been proposed. Among the substitutes for traditional collateral is the loan guarantee. Guarantee systems for loans have been proposed, planned and implemented in various countries. The assumption made by proponents of such a service is that the guarantee organization is either better informed about the risk of the loan than the lender or it is better structured financially to be able to manage the risk. Despite the apparent attractiveness of a loan guarantee, the empirical evidence available gives little encouragement. Nevertheless, interest in guarantees continues.
Book Synopsis Best Practices in the Operation of Partial Credit Guarantee Schemes by : Valeriya Goffe
Download or read book Best Practices in the Operation of Partial Credit Guarantee Schemes written by Valeriya Goffe and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial inclusion, particularly for small and medium enterprises (SMEs), is widely recognized as a key driver of economic growth and job creation in all economies. SMEs represent a significant part of the world economy and are one of the strongest drivers of economic development, innovation, and employment, since most formal jobs in emerging markets are SME jobs. Given that the global economy needs to generate six hundred million new jobs by 2030, SME development has become a high priority for many governments in both developing and developed economies. Access to finance remains one of the key constraints to the growth of SMEs. As part of the technical cooperation program agreement with the Saudi government, the World Bank Group (WBG) team has been working with the management and staff of the Kafalah partial credit guarantee scheme (PCGS) to provide technical assistance to strengthen Kafalah's operations, introduce products innovations, and integrate global best practices. This policy note summarizes best practices on various topics of interest to Kafalah that the WBG provided during 2018-2020.
Book Synopsis SME and Entrepreneurship Financing by : Lucia Cusmano
Download or read book SME and Entrepreneurship Financing written by Lucia Cusmano and published by . This book was released on 2018 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Credit Guarantee Schemes (CGSs) are a widely used policy tool to ease access to finance by SMEs, which, in some countries, ramped up in the aftermath of the 2008-09 financial crisis. The present study aims to improve understanding about the role, impact and sustainability of CGSs, by investigating their characteristics along several dimensions, such as the ownership structure and funding, the legal and regulatory framework, and the operational characteristics of the schemes, including types of services, eligibility criteria, guarantee assignment process and credit risk management. The study explores these dimensions, using detailed examples from OECD and non-OECD countries. It identifies structural and emerging challenges for the financial sustainability and the financial and economic additionality of these schemes, in a rapidly changing economic and regulatory environment. The study investigates in particular the case of Mutual Guarantee Schemes, which are created by borrowers in order to improve their access to finance
Download or read book Expanding Access to Finance written by and published by World Bank Publications. This book was released on 2007-01-01 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book's prime audience is government policy-makers. It provides a policy framework for governments to increase micro, small and medium enterprises' access to financial services?one which is based on empirical evidence from around the world. Financial sector policies in many developing countries often work against the ability of commercial financial institutions to serve this market segment, albeit, often unintentionally. The framework guides governments on how to best focus scarce resources on three things: ? developing an inclusive financial sector policy; ? building healthy financial ins
Book Synopsis Toolkit for Impact Evaluation of Public Credit Guarantee Schemes for SMEs by : Weltbankgruppe
Download or read book Toolkit for Impact Evaluation of Public Credit Guarantee Schemes for SMEs written by Weltbankgruppe and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Limited access to finance, particularly bank credit, is a long-standing hurdle for Small and Medium Enterprise (SMEs), with varying severity of financing constraints across countries. SMEs face higher transaction costs and higher risk premiums since they are typically more opaque and have less or inadequate collateral to offer. Financing is also a major constraint in advanced economies, where financing gaps for SMEs were exacerbated by the 2008-2009 financial and economic crisis. SMEs face higher transaction costs and higher risk premiums since they are typically more opaque and have less or inadequate collateral to offer. These market failures and imperfections provide the rationale for government intervention in SME credit markets. An increasingly popular form of government intervention is represented by credit guarantee schemes (CGSs). These are specialized institutions or programs set up by the government which pledge to repay some or the entire loan amount to the lender in case of default of the SME borrower. The toolkit for impact evaluation of public credit guarantee schemes for SMEs has been created with the objective of identifying a set of uniform methodologies for assessing the financial and economic impact of public CGSs as systematically and objectively as possible. After the introductory Module, the Toolkit is divided in nine parts. Module 2 provides an overview of impact evaluation and introduces different modalities of impact evaluation such as prospective and retrospective evaluations. Module 3 provides a roadmap for designing and implementing a CGS impact evaluation. The later modules (5 through 10) finally touch upon some operational steps to implement an impact evaluation such as collecting data, setting the evaluation team, budgeting and timing for the evaluation, and producing and disseminating the results.
Book Synopsis Principles for Public Credit Guarantee Schemes for SMEs by : World Bank Group
Download or read book Principles for Public Credit Guarantee Schemes for SMEs written by World Bank Group and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financing Micro, Small, and Medium Enterprises by :
Download or read book Financing Micro, Small, and Medium Enterprises written by and published by World Bank Publications. This book was released on 2008-01-01 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study evaluates the effectiveness of IFC's strategic priority of private sector development in frontier countries (high-risk and/or low-income) by supporting micro, small, and medium enterprises (MSMEs) during fiscal years (FY)1994-2006. IFC has channeled its support to MSME's by: i) indirect financing through financial intermediaries, and ii) by indirect institution-building support via specialized regional small and medium enterprise (SME) development facilities. This evaluation analyzes IFC's development results and provides recommendations on how IFC's performance can be improved in this area going forward.
Book Synopsis Toolkit for Impact Evaluation of Public Credit Guarantee Schemes for SMEs by : World Bank Group
Download or read book Toolkit for Impact Evaluation of Public Credit Guarantee Schemes for SMEs written by World Bank Group and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Limited access to finance, particularly bank credit, is a long-standing hurdle for Small and Medium Enterprise (SMEs), with varying severity of financing constraints across countries. SMEs face higher transaction costs and higher risk premiums since they are typically more opaque and have less or inadequate collateral to offer. Financing is also a major constraint in advanced economies, where financing gaps for SMEs were exacerbated by the 2008-2009 financial and economic crisis. SMEs face higher transaction costs and higher risk premiums since they are typically more opaque and have less or inadequate collateral to offer. These market failures and imperfections provide the rationale for government intervention in SME credit markets. An increasingly popular form of government intervention is represented by credit guarantee schemes (CGSs). These are specialized institutions or programs set up by the government which pledge to repay some or the entire loan amount to the lender in case of default of the SME borrower. The toolkit for impact evaluation of public credit guarantee schemes for SMEs has been created with the objective of identifying a set of uniform methodologies for assessing the financial and economic impact of public CGSs as systematically and objectively as possible. After the introductory Module, the Toolkit is divided in nine parts. Module 2 provides an overview of impact evaluation and introduces different modalities of impact evaluation such as prospective and retrospective evaluations. Module 3 provides a roadmap for designing and implementing a CGS impact evaluation. The later modules (5 through 10) finally touch upon some operational steps to implement an impact evaluation such as collecting data, setting the evaluation team, budgeting and timing for the evaluation, and producing and disseminating the results.
Book Synopsis Financing SMEs and Entrepreneurs 2013 An OECD Scoreboard by : OECD
Download or read book Financing SMEs and Entrepreneurs 2013 An OECD Scoreboard written by OECD and published by OECD Publishing. This book was released on 2013-08-23 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Scoreboard presents data for a number of debt, equity and financing framework condition indicators for financing SMEs and entrepreneurs.
Book Synopsis Public Financing for Small and Medium-Sized Enterprises by : Asian Development Bank
Download or read book Public Financing for Small and Medium-Sized Enterprises written by Asian Development Bank and published by Asian Development Bank. This book was released on 2023-11-01 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highlighting the importance of Asia’s small and medium enterprises (SMEs), this report shows how economies can learn from policies employed by the Republic of Korea (ROK) and the United States (US) to offer SMEs the credit they need to thrive. With SMEs making up some 96% of all Asian businesses, the report explains the challenges they commonly face and analyzes the impact of specialized financing facilities in the ROK and the US. It offers a study of public institutional approaches towards improving credit access, assesses international lending regulations, and explores how developing public lending schemes for SMEs can support growth.
Book Synopsis Innovative Credit Guarantee Schemes with Equity-for-Guarantee Swaps by : Pengcheng Song
Download or read book Innovative Credit Guarantee Schemes with Equity-for-Guarantee Swaps written by Pengcheng Song and published by . This book was released on 2020 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Small and medium-sized enterprises (SMEs) faces much severer financial constraint compared to large companies and it is more vulnerable to market imperfection. To alleviate SMEs' financial constraints, Public Credit Guarantee Schemes (CGSs) have been introduced and widely used around the world. We first provide a thorough analysis of the effectiveness of the traditional CGSs and then introduce an innovative financing contract, referred to as equity-for-guarantee swap (EGS), with the aim of reducing SMEs' financial constraint in a more effective way. We show that EGS effectively reduces information asymmetry between lenders and SMEs and alleviates SMEs' severe financial constraint. We further investigate the impact of maturity on asset prices under EGS contract and analyse the value-at-risk (VAR) and expected shortfall (ES) of the insurer's risk exposure when participating in the EGS contract. Consistent with pecking order theory, an extension of our model shows that an SME tends to use equity financing first when it faces much severer financial constraint, then the SME issues more debt when it is less financially constrained.
