The Global Trade Finance Program extends and complements the capacity of banks to deliver trade financing by providing risk mitigation in challenging markets where trade lines may be constrained.
In India, SMEs are the backbone of the economy, employing 40% of the workforce and contributing 45% of industrial output. According to a recent IFC study [1] on Micro, Small and Medium Enterprise Finance in India, financial institutions are able to meet only one-fourth of the financing demand of micro, small and medium enterprises in India. The report estimates the overall financial shortfall for these enterprises at over $400 billion with formal sources able to channelise only $140 billion. The study projects that banks can address the sector’s debt and equity financing requirement of only over $70 billion.
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