$5 trillion and counting - the MSME Finance Gap
Today we’re talking about micro, small and medium enterprises (MSMEs), and their importance in real-world economic growth, job creation, and innovation.
Creating opportunities through MSMEs, particularly in emerging and developing markets is crucial, as it can help advance economic development and reduce poverty.
Micro, Small and Medium Enterprises (MSMEs) are one of the strongest drivers of economic development, innovation, and employment. Access to finance is often identified as a critical barrier to growth for MSMEs. Creating opportunities for MSMEs in emerging markets is a key way to advance economic development and reduce poverty.
However, there is an MSME financing gap, to the magnitude of over $5 trillion USD according to the IFC’s recent analysis by the SME Finance Forum. Some 200 million businesses worldwide need financing to invest, grow and create new jobs, and they account for 9 out of 10 of business, half of global GDP, and two-thirds of job worldwide.
We wanted to investigate this and discuss why governors, financiers, and private sector players need to come together to support developments in the MSME sector.
Following on from TFG’s recent announcement of an industry partnership with the SME Finance Forum, today I’m joined by their CEO, Matt Gamser. Transcript here: https://www.tradefinanceglobal.com/posts/podcast-s1-e42-the-5-trillion-usd-msme-finance-gap-2/
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