In response to the current low growth trap facing many economies, the newly released publication "Financing Growth; SMEs in Global Value Chains" advocates G20 policy consistency for long-term financial stability, investment, and economic growth. It shares perspectives from government, international organisations, business, and academic thought leaders.
“For SMEs to participate in global value chains and underpin economic recovery, urgent actions are needed at G20 level to better coordinate financial regulations, strengthen access to financing and training, and support the sharing of information through digital platforms,” said Bernhard Welschke, BIAC Secretary-General, commenting ahead of the G20 Finance Ministers and Central Bank Governors meeting in July in Chengdu.
The publication builds on a Roundtable event held on 31 May in Paris, co-organised by BIAC, B20 China, OECD, World SME Forum, and SME Finance Forum. Mr. Hiroki Miyazato, Chairman of Haitong Bank, contributed to the publication, having written the 14th chapter: "Green finance: Opportunities, challenges and the case for public and private sector participation".
The publication Financing Growth; SMEs in Global Value Chains is available online here