Joint webinar with AIFC on Sustained Recovery and Growth of SMEs
The World Alliance of International Financial Centers (WAIFC) and its member network have reached a strong consensus that sustainability and inclusive growth are essential for the financial centers of the future, and that small and medium enterprises (SMEs) are critical to accelerating these efforts. The current global challenges, such as climate change, disruption of global supply chains, high inflation, and the COVID-19 pandemic, have placed an immense burden on SMEs and entrepreneurs.
As part of its broader work on the role of financial centers in supporting global economic recovery, the WAIFC published a report on "Supporting Ecosystem for Sustained Recovery and Growth of SMEs." The report's findings were discussed in this webinar, including the important role of financial centers in stimulating innovation, fostering entrepreneurship, and creating an environment that provides access to the essential strategic resources - access to finance, access to competence, and access to markets. The webinar also included recommendations to address the added complexities that SMEs and entrepreneurs face, drawing on approaches through which some of the WAIFC members are addressing these issues in the form of regulatory measures, capacity building, and financing landscape.
The webinar was a success, with several members of the WAIFC representing international financial centers contributing to advancing the topic. The leaders of some of the leading financial centers and industry leaders shared new financial and regulatory initiatives and best practices as they continue to further develop their efforts to support the recovery and growth of SMEs. Overall, the webinar was an informative and insightful event that shed light on the importance of SMEs in the global economy and the role that financial centers can play in supporting their sustained recovery and growth.