Credit Guarantees in MENA: Rebuilding SMEs post COVID - Virtual Event
5th International MENA Guarantee Conference 2021 – September 6th to 7th, 2021 - 2PM (Saudi Arabia) GMT+3
The COVID-19 pandemic hit Middle Eastern small business hard: survey data collected by the Rand Corporation during the first wave of the pandemic in June 2020 found that 85% of SMEs in the region believed that they would not survive 12 months without external support.
Given that MSMEs make up 80-90% of all regional businesses, and 70% of regional employment, this presents a challenge for policymakers and finance providers. Credit guarantee schemes are a key part of the solution, a powerful means to extend liquidity to the private sector during crisis periods, without overwhelming the fiscal balance. However, making credit guarantees work for the MSME sector is a new and developing science. Even in normal conditions, MENA SMEs face major challenges when it comes to access to finance. For example, the ILO estimates that 68% of MENA MSMEs are informal. Even those that are formally incorporated often struggle to find the collateral needed for a conventional loan.
In partnership with the SME Finance Forum, Small & Medium Enterprises Loan Guarantee ”Kafalah" is hosting the 5th International MENA Guarantee Conference on how credit guarantee schemes can meet these challenges and contribute to rebuilding SMEs post-COVID-19.
The conference will take place on September 6-7th, 2021 at 2 p.m. (Saudi Arabia) GMT+3. It will bring together the region’s leading credit guarantee experts and practitioners, alongside SME finance specialists and industry professionals.
Individual sessions will tackle the use of alternative data to extend credit to hard-to-reach clients, the role of early-stage financing and equity guarantees, the digitization of credit guarantee institutions and the specific challenges of funding for sectors especially affected by the pandemic: including tourism, supply chains and technology. Visit the website for more details about the agenda and speakers here>
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