The Swiss State Secretariat for Economic Affair’s support to SMEs in developing countries keeps moving ahead thanks to an amount of 17 million euro financing the European Bank for Reconstruction and Development’s Small Business Initiative. It is a strategic initiative to provide loans and investments through financial institutions and risk-sharing facilities, in other words, a direct financing strategy to foster small businesses.
SMEs play a crucial role in the global economy: it is registered that they make up over 99% of the total number of businesses across countries, therefore they must be supported effectively to unleash their full potential. The responsibility they have for adding value and strength to employment is a crucial need.
Helping these realities contributes to improving the competitiveness of SMEs and facilitating their access to finance while advancing the green economy and digital transformation. This will allow SECO to test innovative financial instruments such as impact-linked loans bringing in Swiss experiences.
Source: INSME Secretariat
