Washington D.C April 2023 – Credit Guarantee Corporation of Papua New Guinea joins the SME Finance Forum as the newest member of our global membership network. Our members are SME financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
“Since 2016, we’ve been implementing our mission to build a global membership to support better SME financing, and since then, we’ve established a network with over 240 active member institutions, which operate in over 190 countries sharing the common purpose of helping under-served enterprises. We are delighted to welcome Credit Guarantee Corporation of Papua New Guinea and their expert knowledge on Credit Guarantee Schemes and operating on behalf of SMEs within the confines of their policy and legislative environment,” said Matthew Gamser, CEO of the SME Finance Forum.
Credit Guarantee Corporation of Papua New Guinea (CGC) launched in March 2022 to provide financial collateral as security to small businesses operated by Papua New Guineans. SMEs in Papua New Guinea will be able to secure a guarantee from CGC to start or expand their businesses with CGC providing loan security to financial institutions on their behalf.
“By becoming a member of the SME Finance Forum, Credit Guarantee Corporation of Papua New Guinea looks forward to attending industry events and learning and networking with our peers to better support and facilitate the growth of Papua New Guinea’s SME sector,” says Dominic Sikakau, CEO, Credit Guarantee Corporation of Papua New Guinea.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members 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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About Credit Guarantee Corporation of Papua New Guinea
The Credit Guarantee Corporation of Papua New Guinea (CGC) is a credit supplementation institution established to assist SMEs to have access to finance through various guarantee schemes at reasonable costs. CGC provides guarantee to viable SMEs who lack collateral to access credit to grow and contribute to economic development.
To learn more, email Contactus@cgc.com.pg