Small and Medium Enterprises (SMEs) play a crucial role in economic development, particularly in developing countries. However, access to formal finance is one of the major constraints as the majority of SMEs in emerging and developing economies are either unbanked or underbanked, resulting a significant credit gap. This is particularly true for countries in the MENA region.
The pandemic posed challenges of a scope and scale unprecedented in modern times. Access to formal finance is already one of the major constraints faced by the SMEs before the onset of COVID-19 especially those in emerging and developing economies. According to World Bank’s Global Economic Prospects, the global recovery is set to decelerate amid continued COVID-19 flare-ups, diminished policy supports, and lingering supply bottlenecks.
However, credit guarantee schemes (CGS) can facilitate SMEs’ access to finance and help overcome deficiencies in the enabling sustainable recovery, playing an important role in rebuilding, and facilitating growth of the SMEs.
In partnership with the SME Finance Forum, Qatar Development Bank “QDB” is hosting the 6th International MENA Credit Guarantee Conference on the theme Credit Guarantees: A Path to Sustainable SME Recovery.
Taking place on May 23-24, 2022, the conference will convene leading credit guarantee experts and practitioners from the MENA region and beyond, alongside SME finance specialists and industry professionals. During the two half-day event, we will discuss the experiences and performance of credit guarantee schemes in addressing the financial needs of SMEs during and post-COVID-19 with a sustainable recovery approach.