Workshop on the Euro-Mediterranean Guarantee Network Project16 September 2019 | Workshop | English | Barcelona
The headquarters of the Union for the Mediterranean in Barcelona hosts a seminar to officially present the Euro-Mediterranean Guarantee Network (EMGN), a project promoted by the IEMed and the Euro-Mediterranean Economists Association (EMEA) with the aim to facilitate the access to financing to small and medium-sized companies in the Mediterranean.
At the seminar, co-organized with the Secretariat of the Union for the Mediterranean, high-level representatives of credit guarantee systems from Morocco, Algeria, Tunisia, Egypt, Lebanon, Jordan, Portugal, France, Belgium, Austria and Germany signed an agreement to collaborate.
The EMGN will be operational from January 2020 with funding from the German Society for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit – GIZ).
The EMGN project aims to alleviate the structural limitations of the Mediterranean region in terms of access to finance by micro, small and medium-sized enterprises (SMEs), considered the backbone of economic activity and employment in the region. To achieve this, the EMGN brings together active credit guarantee schemes in Euro-Mediterranean countries to work together on various objectives. These include reducing the lack of knowledge about the financing difficulties of SMEs, increasing cooperation in the field of credit guarantees between the EU institutions and the southern and eastern shores of the Mediterranean, or conducting research and studies to increase the range of guarantee instruments available to SMEs to access financing.