EBRD: SME Growth Crucial For New Arab Democracies

Job creation through the development of successful small and medium sized enterprises (SMEs) will be a key element in the transition to economic stability in the Arab world’s emerging democracies, the European Bank for Reconstruction and Development (EBRD) said earlier this month.

Speaking at the opening of a conference of the Deauville Partnership with Arab countries, EBRD president Sir Suma Chakrabarti said the bank would support SME development through a number of planned investment projects, and by helping to create the right conditions under which they could flourish.

“Fundamentally it is important for companies in the region to get better access to finance,” the EBRD chief said on 1 November. “We will certainly work on providing better access to financing for SMEs through the traditional channels of direct debt and equity financing, indirect credit lines via partner banks, or investments in equity funds focused on SMEs.” (CONTINUED - 516 WORDS)