Posted on December 9, 2022
The Euro-Mediterranean Guarantee Network (EMGN) is organising its third annual conference on 12 December 2022, under the title “Credit Guarantee Schemes in the Mediterranean: Pillars of Today’s Stability, Actors for Tomorrow’s Prosperity.” The event is co-organised with the Credit Guarantee Company of Egypt (CGC) and will take place in Marriott Mena House, Cairo, Egypt
Governments all over the world are confronting a complex situation with conflicting challenges including high levels of uncertainty, high inflation rates, energy crunch, climate change impacts, trade slow-down etc. While all economic clusters are hit badly by this situation, the SMEs cluster, the backbone of all economies, received the hardest hit. This situation has requested immediate and effective involvement by the governments to mitigate the effects of these challenges and secure SMEs’ business continuity for the sake of market stability.
The guarantee industry, an industry of over USD 2 trillion size by the end of 2021, was categorized by policymakers as the most reliable tool capable of establishing the best financing environment for SMEs and securing their access to favorable and cheaper finance. The industry was also favored by policymakers for its ability to maximize the utilization of public resources and limit the burden on public budgets. A fact that has placed guarantee as one of the most targeted tools by all governments to achieve their plans vis-à-vis the current economic challenges.
As such, guarantee institutions all over the world and across their different networks had been working on finding the right and unconventional means to play this pivotal role and support their governments through this very challenging timing.
It is within this context that EMGN (the Euro-Mediterranean Guarantee Network) organizes its third annual conference “Guarantee Schemes in the Mediterranean: Pillars of Today’s Stability, Actors for Tomorrow’s Prosperity”. The event will allow participants to discuss how policy-makers view the role of guarantee schemes in mitigating current risks and uncertainties, how guarantee schemes are ready to handle their diversified role with a special focus on green-finance and innovative products of equity, and finally how guarantee institutions can secure their financial sustainability with the forecasted high risks and expanded role.
The Euro-Mediterranean Guarantee Network – EMGN seeks to alleviate the region’s structural constraints for MSMEs to access to finance by gathering guarantee schemes active in the countries of the Euro-Mediterranean. EMGN is promoted by the Euro-Mediterranean Economists Association (EMEA), the European Institute of the Mediterranean (IEMed) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)