Ulaanbaatar /MONTSAME/ The high-level Joint Learning Programme (JLP) themed ‘Building an Inclusive Micro, small and medium enterprises (MSME) Financing Ecosystem’ organized by the Alliance for Financial Inclusion (AFI) took place on April 9-13 in Kuala Lumpur, Malaysia.
More than 20 representatives of financial regulatory organizations and central banks of 13 countries gathered to discuss the MSME financing system. Chief of Staff of the Financial Regulatory Commission (FRC) T.Jambaajamts attended the JLP.
Despite recognizing the significance of the sector, parties emphasized that the main challenge global MSMEs facing is still lack of access to finance. According to a study by the Financial Forum of Small and Medium-Sized Enterprises, 40 percent of the funding worth of USD 65 billion required for MSME in developing countries is lacking. Therefore, the parties agreed to work intensively within the structure and cooperation of the AFI, the world’s largest network of financial issues.