Antalya, Turkey, November 15, 2015
- The SME Finance Forum launched its global member network in a ceremony
hosted by Queen Maxima of the Netherlands, Special Advocate for the Secretary
General of the UN for Inclusive Finance for Development, and Cevdet Yılmaz,
the Deputy PM of Turkey. The Forum’s founding members include banks, technology
"disruptors", regulators and development finance institutions
from around the world committed to accelerating financing for small businesses.
"In many countries, bulk of the
employment and trade is generated by SMEs. They have a crucial role in
development, commercialization and spread of innovation," said Deputy
Prime Minister Yilmaz.
Established by the G-20 Global Partnership
for Financial Inclusion (GPFI) and managed by IFC, the SME Finance Forum
brings together private and public sector players to share knowledge, spur
innovation, and provide a new voice in policy discourse. Its ultimate
goal is closing the enormous SME finance gap, estimated at over $2 trillion
"The Forum has come a long way
in the three short years since it opened its doors,” said Jin-Yong Cai,
the CEO of the International Finance Corporation, the private sector arm
of the World Bank Group. “With the launch of the global member network,
the SME Finance Forum is even better positioned to advance public-private
dialogue and help ensure that small businesses can access the finance they
need to thrive."
"Our founding members are diverse
in terms of the type of organization as well as their size and regional
focus,” said SME Finance Forum CEO, Matthew Gamser. “However, they have
one thing in common – they are all helping small businesses grow."
"The timing has never been better
to finally reduce inequities in the credit market and close the credit
gap," said Queen Maxima, who is also Honorary Patron of the G20 Global
Partnership for Financial Inclusion. "Together, policymakers, fintechs,
and financial institutions of all shapes and sizes, can create the conditions
necessary for the market to offer affordable and convenient financial services
for small businesses."
The launch of the member network took
place during a two-day conference implemented by the SME Finance Forum
and CapitalPlus Exchange. This meeting brought private and public
sector participants came together to discuss innovative partnerships which
can accelerate small business finance. The event took place alongside the
G20 Leaders’ Summit in Antalya, Turkey and drew global leaders from the
private and public sector, joined by G20 representatives and other policymakers.
SME Finance Forum
The SME Finance Forum, an initiative
of the G20, works to expand access to finance for small and medium businesses.
The Forum operates a global membership network that brings together financial
institutions, technology companies, and development finance institutions
to share knowledge, spur innovation, and promote the growth of small and
medium enterprises (SMEs). Managed by IFC, the SME Finance Forum was established
in 2012. Member list available through www.smefinanceforum.org
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org.