SMEs: Access to finance for small businesses to be encouraged

SBP and SMEDA agreed to make joint efforts for facilitating access to finance for SMEs.

LAHORE:

State Bank of Pakistan (SBP) and the Small and Medium Enterprises Development Authority (SMEDA) agreed on Tuesday to make joint efforts for facilitating access to finance for Small and Medium Enterprises (SMEs).

This was said at a meeting between a team of SMEDA financial experts and CEO SMEDA Sardar Ahmad Nawaz Sukhera atSMEDA office here. The team said that in line with SMEDA’s new mission to build partnerships for catalyzing growth and development of SME sector, meetings were held last week with senior officials of the State Bank at Karachi to discuss the scope of mutual cooperation of the two organizations for enabling SME’s access to finance.

SMEDA has identified various instruments that could be developed for increasing SME’s access to finance, including sector specific programme lending schemes as well as mechanisms for building capacity of commercial banks in risk assessment of SME clients.

Published in The Express Tribune, April 17^th, 2013.

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