Publication: Best Practices in the Operation of Partial Credit Guarantee Schemes: Guide for Policy Makers
Financial inclusion, particularly for small and medium enterprises (SMEs), is widely recognized as a key driver of economic growth and job creation in all economies. SMEs represent a significant part of the world economy and are one of the strongest drivers of economic development, innovation, and employment, since most formal jobs in emerging markets are SME jobs. Given that the global economy needs to generate six hundred million new jobs by 2030, SME development has become a high priority for many governments in both developing and developed economies. Access to finance remains one of the key constraints to the growth of SMEs. As part of the technical cooperation program agreement with the Saudi government, the World Bank Group (WBG) team has been working with the management and staff of the Kafalah partial credit guarantee scheme (PCGS) to provide technical assistance to strengthen Kafalah’s operations, introduce products innovations, and integrate global best practices. This policy note summarizes best practices on various topics of interest to Kafalah that the WBG provided during 2018-2020.
“Goffe, Valeriya; Hammersley, James; Rustom, Elie. 2021. Best Practices in the Operation of Partial Credit Guarantee Schemes : Guide for Policy Makers. Equitable Growth, Finance and Institutions Insight;. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/35170 License: CC BY 3.0 IGO.”