Colombia: Technical Workshop – Financial Inclusion of SMEs and Development Banks

A financial system is considered inclusive if it provides formal financial services access to those that lack it, and if it facilitates full usage of financial products and services for those that are already part of the formal financial system, and in this way contributing to the reduction of poverty and inequality. The development of financial instruments that correspond to businesses’ specific financing needs, depending on their stage of productive and technological processing, could be considered – in addition to financial inclusion – a productive investment. With this aim development banks could play an essential role in creating and establishing mechanisms and instruments by introducing new capacities, competencies and processes that improve the efficiency and creation of new financial products and services to satisfy the demand of SMEs.

ECLAC convokes this workshop to present and analyze the results of the study for Colombia; and extends this invitation to some of the country’s specialized entities to give them the opportunity to demonstrate and present their experiences with different financial instruments and policies that promote financial inclusion of SMEs.