News

Still today, millions of women throughout the developing world don’t have access to institutional financial services because cultural stigmas linger long after the laws on the books recognize women’s rights. According to the World Bank’s  Global Findex database, women in the developing economies are 20 percent less likely to have an account at a financial institution, and often even accounts under their names are  de facto controlled by male relatives.

The Mohammed Bin Rashid Fund (MBRF), a fund established by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai to finance the UAE's youth and SME projects, has now set up a post-fund monitoring service for its portfolio companies.

In partnership with BDRC Continental, Ultimate Finance conducted research into the impact of late payments on the SME sector. The figures showed that late payments cause cashflow problems for UK SMEs. The main political parties have said they plan to end the issue with legislation such as late payment reporting.

The EBRD’s Women in Business programme is expanding into Tajikistan, making it the 17th country to benefit from improved financing and business advice for female entrepreneurs.

The European Investment Bank (EIB) and Banco Sabadell will provide EUR 800m to Spanish SMEs with the aim of supporting their investments and promoting the development of new projects, particularly in the services and industrial sectors. The EIB will grant a EUR 400m loan to Banco Sabadell, to which the Spanish bank will add an additional EUR 400m of its own.

SME Finance Forum member, IDLC Finance Ltd., has launched its first open end mutual fund named IDLC Balanced Fund. IDLC plan is to offer 10 innovative products such as venture capital and private equity and a similar one for small investors.