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No Magic Solution for Safe and Sustainable Enterprises Financing, Lagarde

Sunday 10 February 2019 01:19 PM

Christine Lagarde
Christine Lagarde

By Summer Sayed
Director General of the International Monetary Fund (IMF), Christine Lagarde said that encouraging financial inclusion of small and medium-sized enterprises in the Arab world requires an integrated approach, noting the fund’s recent researches showed that there is no single magic solution that provides financing for these projects in an effective, secure and sustainable manner. 

Lagarde added during her speech in World Governments  Summit held today in Dubai:"There are a range of economic and institutional factors to help increase bank credit available to small and medium enterprises.”

Financial technology, she pointed out, can be a potential contributor to changing the rules of the game for small and medium enterprises, as it can increase competition between credit providers and expand credit query operations