In 2015, United Nations member States agreed on the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs). To achieve SDGs, States also agreed on the global framework of the Addis Ababa Action Agenda (AAAA) that aligns all domestic and international resource flows, policies and international agreements with economic, social and environmental priorities. In the AAAA, member States called for integrated national financing frameworks (INFFs) to help them strengthen planning processes and overcome existing impediments to financing sustainable development.
Strong MSME sector is a “must-have” for achieving goal to promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all, in particular to reach SDG 8.3. Therefore, inclusive SME financing is crucial element for successful and competitive Kazakhstan and it should be prioritized in INFF development. Inclusive SME financing means that individuals and businesses have access to useful and affordable financial products and services that meet their needs and such products (i.e. transactions, payments, savings, credit and insurance) are delivered in a responsible and sustainable way.
Economic Research Institute, JSC under the Ministry of National Economy of the Republic of Kazakhstan (ERI), within the framework of the Letter of Agreement (LoA) with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) have conducted desk and field research on the current state of SMEs financing to effectively and systematically embed SME financing within a wider INFF in Kazakhstan.
The expert group meeting will discuss the following topics:
The conducted field research methodology;
- Preliminary results of the focus group discussions conducted in three regions of Kazakhstan - East Kazakhstan, Turkestan and Aktobe regions; and
- Preliminary results of the expert interviews.
Objectives and expected outcomes
The expert group meeting gathers experts on SME development and financing and relevant stakeholders and is expected to:
- discuss preliminary results of the field research and verify key findings;
- discuss how national development plans/strategies in Kazakhstan reflect the SME financial inclusion aspects;
- identify main needs and gaps in SME financial inclusion in various communities;
- explore areas for cooperation among entrepreneurs and financial service providers to better access financial services available at community and regional levels;
- discuss financing options to support SME sector.