Based on the Bank’s experience following over four decades of operations, monitoring, and evaluations, the study presents several options to be explored by the CEB. The non-exhaustive list of alternatives is considered to further enhance the existing operating model of MSME financing and to increase the social added value of the Bank’s operations in this sector. These options include: (i) targeting the lower-end of the MSME size spectrum, (ii) complementing the financing instrument (programme loan) with other instruments (e.g. technical assistance), (iii) adding to or replacing the headcount-based approach to impact assessment with more relevant and suitable indicators (e.g. financial inclusion), and (iv) adapting the eligibility criteria to take into account the role and needs of MSMEs.
