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Development Bank of Nigeria Joins 140 Other Financial Institutions to Promote SME Finance

Washington, D.C. October 16, 2018The Development Bank of Nigeria (DBN) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.  

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First Look at the Global SME Finance Forum 2018 Marketplace
The Global SME Finance Forum 2018 will explore how innovation in technology, regulation and partnerships can help overcome various informality problems, and open up a far larger market for profitable, sustainable, responsible financial services. The Marketplace, an exclusive opportunity for B2B introductory meetings, had over 100 participants at...
Member News: Standard Chartered Bank Presents New Card-Less Transaction System
SME Finance Forum member Standard Chartered Bank is providing customers with a card-less withdrawal function at ATMs. According to the article, the bank spent over Sh200 million to upgrade its entire ATM network converting the machines to advanced Cash Deposit Machines (CDMs). According to David Idoru, Head of Retail Banking, a customer will be...
Shanghai Zhaoxi Network Technology Co., Ltd.  Joins 140 Other Financial Institutions to Promote SME Finance
Washington, D.C. September 25, 2018 – Shanghai Zhaoxi Network Technology Co., Ltd. (Zhaoxi) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200...
Leading Bank in Lebanon Receives $100 Million from the European Bank for Reconstruction and Development to Support SMEs
Société Générale de Banque au Liban (SGBL) will receive $100 million from the European Bank for Reconstruction and Development (EBRD) to help export and import activity and on-lending for SMEs. According to the article, a $50-million credit line will support medium-term funding for SMEs and provide regional outreach. In addition, the funds will...
EBRD Provides $20 Million Line to Addiko Bank to Support SMEs
The European Bank for Reconstruction and Development (EBRD) will support SMEs in Serbia with a $20 million line to Addiko Bank. According to the article, SMEs account for over half of Serbia’s economic activity and supporting them is key. The funds will help to improve the competitiveness of Serbian SMEs by providing access to modern technology...
IFC Reached Almost $3 Billion in Investment Commitments to SMEs
IFC expanded its investment commitments to throughout Europe and Central Asia with $2.9 billion in investments commitments to help promote access to finance for SMEs. European investments included: $336.4 million to Romania, $190.5 million to Serbia and $129.1 million to Ukraine. According to the article, funds went to benefit the agribusiness...
IFC Supports Kyrgyzstan In First institutional Private Equity Fund
The funds backed by World Bank’s International Finance Corporation (IFC) will go towards supporting Highland Capital’s efforts towards increasing access to finance for SMEs in the Kyrgyzstan. Key areas include services, healthcare, education and media, according to the article. With a goal of raising $30 million, Highland Capital has raised $15...
Member News: Xero Partnered With Tyro, Australia’s Business-Only Bank to Enhance Its EFTPOS Solution
Tyro is able to offer flexible, same-day settlement and payroll integration to benefit Australian SMEs, due to SME Finance Forum member Xero’s accounting software. Tyro has deleted an extra step of separately processing payroll, instead merchants can submit their information directly through Xero, which is linked to a Tyro Smart Account, according...
Member News: CEO of Standard Chartered Bank Shares His Plans for the Region and Strategic Partnerships Opportunities
In an interview with Bloomberg BusinessWeek, regional CEO of Africa and the Middle East for Standard Chartered Bank, Sunil Kaushal shared his plans and partnerships with India and UAE. Kaushal shared,“Mmy vision is to build up a business which delivers a solid result and generates the right returns for all our stakeholders – but on a sustainable...
Member News: The European Investment Bank Partnered With DLL to Support Dutch and Belgian SMEs
SME Finance Forum member the European Investment Bank (EIB) signed an agreement to provide DLL Financial Solutions with €100 million to support Dutch and Belgian SMEs. Over 200 businesses will be able to benefit from lower interest rates due to the funds that will be split from Belgium and the Netherlands, according to the article. Werner Hoyer,...