The Importance of SME Financing to COVID-19 Response & Recovery Efforts
|Jul 14, 2020 - Jul 14, 2020 |Online,United States of America

The Importance of SME Financing to COVID-19 Response & Recovery Efforts

As we begin the “Decade of Delivery” to achieve the 2030 Agenda, economic and financial shocks associated with COVID-19 are undermining our ability not only to achieve the 17 Sustainable Development Goals (SDGs) but to prevent backsliding in many areas. Because SMEs are the backbone of developing economies – the International Labor Organization estimates more than 70% of the workforce in emerging markets works in micro and small enterprises or are self-employed - they have a key role to play in the ability of any country to withstand and recover from the current crisis.


Date: 14 July 2020


Time: 8am-9am (EST) / 2pm-3pm (CET) 


Watch the live stream at https://www.youtube.com/uncdf 


The sponsors of this session, along with other UN entities, have responded to the call for accelerated action in the political declaration of the 2019 High-Level Political Forum by forming SDG500, a blended finance impact investment fund that directly addresses the declaration’s commitments to mobilize well-directed SDG financing and enhance international cooperation and partnerships.

This historic initiative marks the first time that multiple UN agencies and an international NGO have teamed up with an impact investing pioneer to mobilize USD $500 million to support vulnerable workers and SMEs in emerging markets and Least Developed Countries.

SDG500 partner institutions include the United Nations Capital Development Fund, the International Fund for Agriculture Development, the International Trade Centre, Smart Africa, the Stop TB Partnership, and the international NGO CARE.


Session objectives:

  • Highlight the importance of SMEs in emerging markets to cushion COVID-19 impacts on women, healthcare, food security, and the delivery of essential goods and services.
  • Underscore the importance of SME financing in achieving Agenda 2030.
  • Showcase SDG500 as a concrete investment opportunity for governments, DFIs, and the private sector to partner with UN agencies and civil society organizations on SME financing.

Details
  • Date Jul 14, 2020 - Jul 14, 2020
  • TypeOthers
  • SectorU-Activities of extraterritorial organizations and bodies
  • Website https://www.youtube.com/uncdf
  • WhereOnline,United States of America

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