APEC to boost SMEs financing access

TAGAYTAY CITY: The Asia-Pacific Economic Cooperation (APEC) member states agreed on Wednesday to make credit accessible to more small and medium enterprises (SMEs) and enable further job creation and income upgrades.     “Financial inclusion is vital in achieving the goal of enhancing the inclusivity of growth in economies. If we help the SMEs become more productive, such as by easing the accessibility of financing (for them), we help our economies generate more jobs and boost incomes,” Finance Undersecretary Gil Beltran said.

In the final day of the two-day 2015 APEC Forum on Financial Inclusion on Wednesday in Tagaytay City, the delegates agreed that while there have been inroads into SME financing, countries in the region can do a lot more.