G20 Workshop on 'Helping SMEs Go Global' : Chair's Summary
Hosted by the German Presidency on February 24, the G20 workshop “Helping SMEs Go Global - Moving Forward in SME Finance“, brought together more than 150 experts from G20 countries, development finance institutions, and the private sector to discuss issues related to advancing financial inclusion for small and medium-sized enterprises (SMEs).
Organized jointly by the German G20 Presidency the German Development Bank (KFW) and the SME Finance Forum, several approaches to improve SME participation in sustainable global value chains were highlighted, including the role of innovative digital financial solutions (fintechs) in SME development, and the role of development banks in enabling SME access to finance.
Recognizing the important role of policy and regulation for SME Finance, participants underlined the need to effectively implement the G20 Action Plan on SME Financing and the G20/OECD High-Level Principles on SME Financing.
Going forward, research on best practices to integrate SMEs into sustainable global value chains through better access and usage to financial services will be further pursued during the German G20 Presidency.