MSMEs in the country weathered the economic turbulence by taking active steps to adjust their businesses and look for new opportunities.
It’s not just about broadening access to finance, but also inducing beneficial use of credit.
The developing world has a long way to go to reach the stage of financial sector development of advanced economies.
An ADB-funded soap opera became hugely popular on Mongolian TV in 2015 – and helped change people’s financial behavior.
To leverage more infrastructure development funds, India should establish a specialized institution dedicated to credit-enhancing corporate bonds.
A few Southeast Asian countries need to make investing easier for foreigners to deepen their local currency bond markets.
The inclusion of an Argentine bank in ADB's Trade Finance Program is an important step toward realizing the potential for trade between Asia and Latin America.
To avoid heavy-handed state intervention in small businesses, we need to think of new ways to make it easier for SMEs to obtain credit from commercial banks in ASEAN economies.
The first bond issue under a project bond guarantee facility set up in 2012 by ADB and IIFCL is a landmark achievement for Indian infrastructure development, as credit enhancement can help draw in money from insurance companies and pension funds.
We need to make the best possible use of all financial instruments in our national and regional tool boxes so SMEs in Asia can continue driving national economies, providing jobs, and becoming globally competitive.