31 May 2017. Montreal. The Finance Alliance for Sustainable Trade (FAST) officially launched
Finance Connect, a service created to connect larger agricultural and forestry small and medium enterprises (SMEs) in developing countries that have financing need of more than USD 800,000 and up.
It was attended by numerous representatives relating to financial institutions, trade organizations, sustainable development, government representatives, international organizations, and other strategic partners.
Getting financing means access to working capital, inputs, and labour but also long-term finance for infrastructure and larger projects […] which can genuinely make a difference in developing and growing businesses, and therefore improve the livelihoods of producers on the ground. Noemi Perez, President and CEO of FAST See short video snap during the event (5:33 min)
Finance Connect is a unique service that focuses on addressing the needs of larger sustainable Agricultural and Forestry SMEs in developing countries that have financing needs of more than USD 800,000. These are usually enterprises that have larger projects, or projects that require both short and long-term finance.
It is a tailor-made service that supports the enterprises throughout the process of obtaining finance, including linking SMEs to financial services providers (FSPs) that can meet their needs in an accurate, efficient, and effective manner. Ultimately, this service will enable FAST and its partners to create a tangible benefit on the ground by helping SMEs restructure their finances, reach their potential growth, employ more people, and have a more sustainable business model that will benefit them and their communities in the long term.
See also short video of Mauricio Rosemsary, FAST Business Development Director.
The International Finance Corporation (IFC) […] reports over 40 million formal small and medium enterprises globally, that have a gap of $1.5 trillion in credit financing. Our services in Finance Connect are designed to collaborate towards the closing of this gap.”
The Finance Alliance for Sustainable Trade (FAST) is an international non-profit organization. By
partnering with FSPs and other stakeholders, FAST uses tools and services to facilitate access to finance for agriculture and forestry SMEs in emerging economies mainly in Africa, Latin America and the Caribbean. FAST’s training, analytics, and matchmaking services provide impact investing solutions and capacity-building for their stakeholders.
This post was originally published at PAEPARD by François Stepman. It has been republished here with permission.