TRADE FINANCE GAP IMPEDING GROWTH, JOBS, AND POVERTY REDUCTION
STRENGTHEN SMEs, INCREASE PUBLIC SECTOR SUPPORT FOR REVIVAL
2021-10-14 10:06
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Increasing trade finance gap has been impeding growth, jobs, and poverty reduction across the globe. The COVID-19 impact widened the gap by 15 per cent in 2020 in comparison to 2018. Moreover, despite various measures to support the Small and Medium Sized Enterprises (SMEs), the sector that employs the majority of workforce, during the pandemic, 40 per cent of trade finance applications rejected by banks were from SMEs.