Small and medium-sized enterprises (SMEs) in Asia, including the Philippines, need better access to finance to grow and generate badly needed new jobs for the region, says a new Asian Development Bank (ADB) report. Noritaka Akamatsu, deputy head of ADB's Office of Regional Economic Integration, noted that most of Asia's smaller firms are faced with difficulties in obtaining finance, and SMEs need to be able to tap a wider range of nonbank financing options in addition to bank loans, including capital markets if they are to realize their potential.