MSMEs constitute 90 percent of all businesses and more than 50 percent of the employment globally. In emerging markets, formal MSMEs contribute up to 40 percent of national income.

This report by AFI reflects on the economic and social importance of the MSME sector in emerging economies. It explores the significance of available research on the MSME finance gap, i.e. the difference between what access to finance is available to MSMEs and the level of financing that they actually require.

The objective of this report is twofold:

  • To share the insights from an AFI SME Finance Working Group survey undertaken in 2019 on the state of alternative MSME finance in the AFI network.
  • To provide guidelines and country examples to regulators and other authorities on the issues to consider when developing alternative MSME finance

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