publication . Preprint . 2013

Access by MSMEs to Finance in the Southern and Eastern Mediterranean: What role for credit guarantee schemes?

Ayadi, Rym; Gadi, Salim;
Open Access
  • Published: 01 Apr 2013
Abstract
Micro-, small- and medium-sized enterprises (MSMEs) in the Southern and Eastern Mediterranean suffer from credit constraints. Given their contribution to employment and growth, similarly as in other regions, policy-makers have developed credit guarantee schemes (CGSs) in order to facilitate small companies’ access to debt capital. CGSs are risk-sharing mechanisms under which a guarantor ensures the lender against a share of the possible losses it incurs when extending a loan. Despite the maturity of some schemes, knowledge of the schemes’ functioning, operating environment as well as performance in guaranteeing loans for MSMEs is scarce. Building on a previous s...
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