Saadani, YoussefArvai, ZsofiaRocha, Roberto2012-03-192012-03-192011-03-01https://hdl.handle.net/10986/3378Many countries in the MENA region have established partial credit guarantee schemes to facilitate SME access to finance. These schemes can play an important role, especially in a period where MENA governments are making efforts to improve the effectiveness of credit registries and bureaus and strengthen creditor rights. This paper reviews the design of partial credit guarantee schemes in MENA, and assesses their preliminary outcomes. The paper is based on a survey conducted in 10 MENA countries in early 2010. The authors find that the average size of guarantee schemes in MENA (measured by the total value of outstanding guarantees) is in line with the international average, although there are wide differences across countries, and some schemes seem too small to make any significant impact. Most importantly, the number of guarantees looks generally small while their average value looks large. This suggests that guarantee schemes are not yet reaching the smaller firms. Guarantee schemes in MENA look financially sound and most schemes have room to grow. However, this growth should be accompanied by an improvement of some key design and management features, as well as the introduction of systematic impact evaluation reviews.CC BY 3.0 IGOACCESS TO CREDITACCESS TO FINANCEACCESS TO FINANCIAL SERVICESACCESS TO LOANACCESS TO LOANSACCOUNTINGAGRICULTURAL LOANSAPPROVAL PROCESSESAUCTIONAUCTIONSAVAILABILITY OF BANK CREDITBALANCE SHEETBANK CREDITBANK FINANCINGBANK GUARANTEEBANK GUARANTEESBANK LENDINGBANKING SECTORBANKING SYSTEMSBANKSBENEFICIARIESBIDBORROWERBUSINESS ACTIVITYBUSINESS ASSISTANCEBUSINESS LOANSBUSINESS PLANBUSINESS PLANSCAPACITY BUILDINGCENTRAL BANKCOLLATERALCOLLATERAL REGIMESCOLLATERALSCOLLECTION PROCEDURESCOMMERCIAL BANKCONTINGENT LIABILITIESCORPORATE FINANCECREDIBILITYCREDIT ACCESSCREDIT ALLOCATIONCREDIT BUREAUSCREDIT CONSTRAINTSCREDIT EXTENSIONCREDIT GUARANTEECREDIT GUARANTEESCREDIT INFORMATIONCREDIT MANAGEMENTCREDIT MARKETCREDIT OFFICERCREDIT RATINGCREDIT RATINGSCREDIT RATIONINGCREDIT REGISTRIESCREDIT REGISTRYCREDIT REPORTINGCREDIT REPORTING SYSTEMSCREDIT RISKCREDIT RISK MANAGEMENTCREDIT SCORECREDIT SCORESCREDIT SCORINGCREDIT SCORING MODELSCREDITORCREDITOR RIGHTSCREDITORSCREDITSCREDITWORTHY FIRMSCUSTOMER SATISFACTIONDEBTDEFAULT RATEDEFAULT RATESDEFAULTSDEVELOPING COUNTRIESDOMESTIC BANKSDOWN PAYMENTDOWN PAYMENTSECONOMIC DEVELOPMENTECONOMIC GROWTHEFFICIENT JUDICIAL SYSTEMSELIGIBILITY CRITERIAELIGIBLE LOANSEMPLOYEEEMPLOYERENABLING ENVIRONMENTENTERPRISE DEVELOPMENTENTREPRENEURSEQUITY CAPITALEQUITY RATIOESCROWESCROW ACCOUNTEXPORTERSEXTERNAL FINANCINGFINANCIAL ASSISTANCEFINANCIAL CRISISFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONSFINANCIAL PERFORMANCEFINANCIAL STRUCTUREFINANCIAL SUPPORTFINANCIAL SUSTAINABILITYFIXED ASSETSFOREIGN CURRENCIESFUND MANAGERSGOVERNMENT BANKSGOVERNMENT INTERVENTIONSGOVERNMENT POLICIESGOVERNMENT SUPPORTGROUP OF FIRMSGUARANTEE FEESGUARANTEE FUNDGUARANTEE FUNDSGUARANTEE PRODUCTGUARANTEE SCHEMEGUARANTEE SCHEMESGUARANTORINDUSTRIAL LOANINFORMATIONAL ASYMMETRIESINNOVATIVE LOANSINSTALLMENTSINSTITUTIONAL ARRANGEMENTINSTRUMENTINSURANCEINTANGIBLEINTANGIBLE ASSETSINTEREST RATEINTERNATIONAL BANKINTERNATIONAL DEVELOPMENTINTERNATIONAL FINANCEINTERNATIONAL STANDARDSINVESTMENT CLIMATEINVESTMENT FUNDINVESTMENT PROJECTSISLAMIC LAWJOB CREATIONJOB OPPORTUNITIESJUDICIAL PROCEDURESJUDICIAL PROCESSJUDICIAL SYSTEMJUDICIAL SYSTEMSLACK OF COLLATERALLARGE FIRMSLEGAL ACTIONSLEGAL FRAMEWORKLENDERSLENDING DECISIONLEVELS OF COLLATERALLOANLOAN AMOUNTLOAN AMOUNTSLOAN APPLICATIONLOAN APPLICATIONSLOAN BALANCELOAN GUARANTEELOAN GUARANTEE PROGRAMLOAN GUARANTEESLOAN MATURITYLOAN PROGRAMLOAN RECOVERYLOAN SIZELONG-TERM FINANCEMARKET DISTORTIONSMATURITIESMAXIMUM MATURITYMICRO LOANSMICRO-LOANSMONETARY AUTHORITYMONETARY FUNDMORAL HAZARDNATIONAL CREDITNEW BUSINESSESOPERATIONAL COSTSOUTREACHPARTIAL CREDITPARTNER BANKSPAYMENT OF CLAIMSPERSONAL GUARANTEESPORTFOLIOPORTFOLIOSPRIVATE BANKSPRIVATE CREDITPRIVATE CREDIT BUREAUSPRIVATE FINANCIAL INSTITUTIONSPRODUCTION CAPACITYPROVISION OF CREDITPRUDENTIAL STANDARDSPUBLIC CREDITRESERVERESERVE REQUIREMENTSRETURNRISK EXPOSURERISK MANAGEMENTRISK MANAGEMENT SYSTEMSRISK MANAGEMENT TOOLSRISK MITIGATIONRISK OF DEFAULTRISK PROFILERISK-BASED PRICINGRISKY BORROWERSSHAREHOLDERSSMALL BUSINESSSMALL BUSINESS ADMINISTRATIONSMALL BUSINESS FINANCINGSMALL BUSINESSESSMALL ENTERPRISESMALL ENTERPRISESSMALL LOANSSOCIAL DEVELOPMENTSOLVENCYSTART-UPSTART-UPSSTATE BANKSSUPERVISORY AUTHORITIESTAXTECHNICAL ASSISTANCETECHNICAL SUPPORTTIME OF DEFAULTTRADINGTRANSACTIONTRANSACTION COSTSTURNOVERUNIONVENTURE CAPITALWORKING CAPITALWorld Bank10.1596/1813-9450-5612