Project Title

Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem 

Project Year

2019   

Project Number

SME 09 2019A 

Project Session

Session 2   

Project Type

Standard 

Project Status

Project in Implementation   
View Budget TableView Budget Table
|
PrintPrint

Project No.

SME 09 2019A 

Project Title

Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem 

Project Status

Project in Implementation 

Publication (if any)

 

Fund Account

APEC Support Fund 

Sub-fund

ASF: General Fund 

Project Year

2019 

Project Session

Session 2 

APEC Funding

119,743 

Co-funding Amount

Total Project Value

119,743 

Sponsoring Forum

Small and Medium Enterprises Working Group (SMEWG) 

Topics

Small and Medium Enterprises 

Committee

SOM Steering Committee on Economic and Technical Cooperation (SCE) 

Other Fora Involved

 

Other Non-APEC Stakeholders Involved

 

Proposing Economy(ies)

Chile 

Co-Sponsoring Economies

Australia; China; Hong Kong, China; Korea; Malaysia; Papua New Guinea; Peru; Chinese Taipei; United States 

Expected Start Date

01/12/2019 

Expected Completion Date

31/12/2020 

Project Proponent Name 1

Manuel Lopez 

Job Title 1

Advisor 

Organization 1

Ministry of Economy, Development and Tourism 

Postal Address 1

Not Applicable 

Telephone 1

(56-22) 4733447 

Fax 1

Not Applicable 

Email 1

mlopezb@economia.cl  

Project Proponent Name 2

Not Applicable 

Job Title 2

Not Applicable 

Organization 2

Not Applicable 

Postal Address 2

Not Applicable 

Telephone 2

Not Applicable 

Fax 2

Not Applicable 

Email 2

Not Applicable 

Declaration

Manuel Lopez 

Project Summary

The overall objective of this project is to deliver policy recommendations for policy makers in APEC economies and beyond, in particular for development and SME agencies, on how to foster the adoption of Fintech solutions for SMEs. 

Fintech holds the potential to alleviate the SME finance gap and the primary purpose of this research is to explore the role of policy makers through the study of good policy practices and lessons learned. Better policy making in this area, by strengthening the knowledge and awareness, would benefit SMEs in need of finance and thereby, given the important role of small businesses, the wider economy. 

The project would focus both on common policy approaches as well as more novel and innovative avenues. In order to formulate policy recommendations, an overview will be provided on the potential of Fintech developments for SMEs in APEC economies and beyond, an overview on regulatory and supervisory approaches, the identification of good practices by SME agencies, and capacity building for these institutions, pending on interest. 

The project contemplates the presentation of preliminary results in Malaysia 2020, in the context of the APEC SME Week and to develop an APEC Publication. This would allow the dissemination to a large number, if not all, economies in the region.

Relevance

Relevance – Region: The financial industry is dramatically changing around the globe, mostly because of the introduction of technology-based new business models. Data suggests the Fintech industry, i.e. technology-enabled innovation in financial services, is growing at in rapid rates, registering a global investment level that went from ~$1.1b in 2010 to ~$31b in 2017 (The Pulse of Fintech, KPMG, 2018). Such scenario has proven benefits related to: democratizing financial services by creating new ways to interact with financial service providers, allowing SMEs to diversify their financing instruments, fostering more competition in SME finance markets, assisting SMEs in accessing funding and services that were once unavailable, opening up opportunities for the unbanked and underbanked, and facilitating structural change in financial markets. 

Fintech can be a game changer to reach underserved SME segments, such as those located far from large urban areas, and for women-owned enterprises in need of finance. Given that women generally operate smaller businesses that are often in less capital-intensive sectors, they are less likely to have structured information for risk assessment and guarantees. Fintech companies are well suited to tackle these barriers. SMEs operating in emerging economies and in remote and/or disadvantages regions often benefit disproportionately from Fintech solutions for similar reasons. 

Given the clear benefits of Fintech for SMEs in need of finance, the project aims to explore how policy makers, in particular public development agencies, can foster the wider take of Fintech solutions. This would include both common and well-established policy approaches, as well as more novel and innovative ones. 

Relevance – Eligibility and Fund Priorities: This research project supports further understanding of an industry that has potential to improve access to both, financial services and financing, for SMEs and entrepreneurs through technology and economic development opportunities, delivering recommendations for public development agencies in their role of policy makers for supporting SMEs, particularly in access to financing and financial services. The project will be developed in cooperation with stakeholders that range from government officials, to policy makers, academia, and others. 

Relevance – Capacity Building: The project encourages the development of a framework of theoretical knowledge and empirical evidence that will serve to improve financial access for MSMEs, and deliver recommendations to public development agencies to build capacity in order to articulate the following actors:

1)  Development Agencies that support SMEs in access to financing and financial services,

2)  Fintech companies, mainly startups, as drivers of new mechanisms for access to financing, and

3)  Micro, small and medium enterprises, in their need to access financing.

Additionally, there are underlying questions that must be taken into consideration in order to build capacity, such as:

· To what extent has Fintech has increased financing capacity for SMEs?

. How are governments in other economies developing Fintech ecosystems, and how do they balance this against responsible regulation?

Objectives

The overall objective of deliver policy recommendations to APEC economies on how to increase access to and awareness of Fintech solutions for SMEs. In order to reach this objective, the project will: 

1) Map the potential of Fintech developments for SMEs, take stock of their use of financial services and the evolving regulatory environment.

2) Identify policy cases in APEC members and beyond to foster the adoption of Fintech solutions for SMEs, especially women-owned and disseminate good practices, 

3) identify possible future trends and challenges of relevance for policy makers, and 

4) Build capacity regarding the ways public development agencies could integrate Fintech into their work in order to facilitate access for financing for SMEs.

Alignment

Alignment - APEC:  This project corresponds to the three key pillars of the APEC Action Agenda on Advancing Economic, Financial and Social Inclusion in the APEC Region: 

1) The project focus on capacity building through a deeper understanding of the challenges of public policy facing Fintech industries, especially in developing economies (Economic Inclusion) 

2) The project will map best practices of financial inclusion through Fintech, creating awareness and broader access to Fintech services (Financial Inclusion) 

3) The project will deliver recommendations to develop a new financial ecosystem composed by public agencies, Fintech Companies and SMEs and women-led SMEs (Social Inclusion). 

The project will contribute to three priorities of the Boracay Action Agenda to Globalize MSMEs: 

1) The project´s focus on investment in Fintech and policy design issues within Fintech economies supports measures to widen options on financing for MSMEs and further develop the infrastructure to facilitate lending to them.

2) The multi-stakeholder approach to the design and implementation of the project will allow participants to strengthen institutional support for MSMEs by fostering crosscutting relationships. 

Throughout the different phases of this project, both the Finance Ministers Process given the discussions on fintech so as to align the messages, build on the work that has already been conducted and share the insights of the report to a broader audience. The PPWE will also be consulted in light of the project’s emphasis on gender issues. 

Alignment – Forum: The proposal aligns with the Small and Medium Enterprises Working Group Strategic Plan 2017-2020 priority of Entrepreneurship, innovation and the internet and digital economy through fostering innovation in SMEs to strengthen business competitiveness; support SMEs development in specific industries based on the economic development needs of individual member economies.

TILF/ASF Justification

Not Applicable.

Beneficiaries and Outputs

Outputs:

1.  Stock take and survey exercise: As a first step, an exercise would be conducted to take stock of Fintech developments through desktop research, interviews, teleconferences and possibly surveys with key stakeholders, including Fintech players and SME associations. This fact-finding exercise would require a tailored approach with different questions asked to different stakeholders (with a different set of questions for Fintech start-ups, SME association and financial incumbents for instance). This exercise aims to be broad, covering all APEC economies or as many possible, with an emphasis on economies with a developed market and/or high potential. This would form the basis of an analytical report. A key aspect would be to shed light on the uptake of Fintech solutions by SMEs and entrepreneurs and how it benefits their expansion and business success. Special emphasis could be placed on women-owned ventures, pending data limitations. This study could be conducted in Q1 2020 and would constitute a necessary input for the following steps of the project. This exercise would not result in a separate output, but rather feed into the overall policy paper. This exercise will enable to further understanding of how fintech is affecting SMEs’ access the finance and what rationale and areas there are for policy makers to intervene. 

2.  Study and report: A related study would then provide a state of play regarding the regulatory approaches in APEC members, OECD economies and beyond for financial innovation related to SMEs and entrepreneurs. This would include both common practices and more innovative or emerging approaches. In addition, this report would map current initiatives to ease SMEs’ access to Fintech providers by development banks, development agencies, other government bodies and, to some extent, non-government actors. This would be conducted in close coordination with government officials from interested economies and jurisdictions. Special consideration would be placed on the impact these policies had. This study would look into a large number of jurisdictions, with an emphasis of economies with well-developed policies and/or a clear ambition in this area. This study could be conducted in Q1 2020 and would constitute a necessary input for the following steps of the project. This report would not constitute a separate publication, but would function as an introductory section of the overall policy paper, given the well understood importance of a solid regulatory and supervisory framework for the fintech industry. 

3.  Policy paper “Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem”: The first two steps allow for the formulation of lessons learned, a compilation of good policy practices and a set of recommendations. These could be shared in various formats with interested stakeholders, mainly to the related APEC working groups and steering groups, both online and offline. The purpose would be to guide policy makers interested in easing access to finance for SMEs and entrepreneurs, including for segments of the SME population that face particular challenges related to financial inclusion such as women-owned ventures or businesses located in rural and/or peripheral areas. This study could be conducted in Q2 2020. This policy paper would include the most salient insights from the above outputs. The main output would be a policy paper, mainly targeting interested policy makers with the purpose to provide guidance, hopefully allowing policy makers to learn from experiences across the globe on how to enable SMEs to benefit from Fintech and, more specifically, to adopt and adjust policy practices that have proved successful in other jurisdictions. The overall length, given the different sections, is estimated at 100 pages, with a summary of around two pages. 

4.  Conference: The project would be discussed and presented during a conference, most likely in the 51st SME Working Group to be held in Malaysia 2020. This conference would represent an opportunity to share the main insights among policy makers, discuss policy experiences and thereby refine the key messages and policy recommendations of the project. It is envisioned to organize a full-day conference on the margins of the SMEWG. Part of the program would consist of sharing the main insights of the report, and another part on panels where policy makers and other stakeholders could discuss policy practices in more detail. The former part could possibly take place in the morning, and the latter part in the afternoon. This event would mainly target government officials from APEC economies, ideally working for an SME agency, development bank or a ministry that designs policies to ease SMEs’ access to finance. In the best case scenario, this would involve both senior officials, who can steer policy practices and introduce new programs as well as more junior staff with some experience in the area, who can implement the recommendations and work on the technical arrangements. 

Outcomes:

1.  The project aims to raise awareness of the benefits of Fintech for SMEs, in particular to increase their financial inclusion, for policy makers of APEC economies and beyond. Financial innovation is taking place at a very rapid pace and holds great opportunity for small businesses in need of external finance. A first outcome of this project would be to share this insight and raise the issue on the political agenda. 

2.  In a similar vein, an appropriate regulatory and supervisory framework is key for financial innovation to take place, while not harming financial stability and ensuring consumer and investor protection. An overview of current policy approaches - and their impact - would assist APEC economies (and other interested economies) to adopt a more suitable framework. On the measurement of impact, regulatory impact assessment are relatively common tools that critically assess the positive and negative effects of regulation. An overview of such assessments in this area would provide insights on key issues of policy frameworks that enable financial innovation to take place while mitigating the downward risks.

3.  Aside from getting the appropriate framework conditions in place, government bodies around the world are taking action to enable more small businesses benefit from financial innovation. Initiatives include raising awareness and understanding of the benefits and risks of Fintech solutions among (potential) beneficiaries, creating an environment in which experimentation in financial services within a controlled environment is possible, channeling support through and collaborating with entrants in financial services as well as through and with incumbents, the creation of innovation labs or accelerators for (Fintech) start-ups, the establishment or expansion of co-investment schemes (for example with Fintech-focused venture capital funds) and so on. The project endeavors to collect and disseminate good practices. A key objective would be the adoption and/or modification of existing policies of these good practices by APEC members over the long term. This could be monitored, with modest resources, through a limited survey exercise with key agencies after the completion of the report. The identification of good policy practices and effective approaches depends largely on (independent) evaluations of programs of its impact, dependent on how it achieved key performance indicators on the beneficiaries and the wider economy such as access to finance indicators (at the company and economy level), employment (at the company and economy level), profitability (at the company level), the growth of the fintech industry and so on (and dependent on the programs). 

4.  Finally, a key outcome would be the attendance and buy-in in the conference in Malaysia where the take-aways of the report will be discussed and shared. A possible performance indicator would be the number of participants from various APEC economies (and possibly beyond). 

Beneficiaries: The main beneficiaries of this project would be government officials, especially of SME agencies, development banks and other bodies responsible to ease SMEs’ access to finance. The project should be relevant for relatively high levels of seniority that have the decision power to initiate new programs and/or modify existing ones as well as to more junior staff, who are responsible for the implementation and operationalization of the programs.

More broadly and as secondary beneficiaries, the project is intended to be relevant for APEC working groups and steering groups related to financial inclusion for SMEs such as SMEWG and Economic Committee, and for a much wider group of stakeholder beyond; public agencies and policy makers supporting SMEs, such as the academic sector; Fintech Industry and SME representative bodies. The Finance Minister’s process aswell as the PPWE will also be consulted.

A preliminary version of the report will be shared with the above-mentioned stakeholders in order to generate discussion, requests for comments and contributions that will be taken into account for the development of a final report.

It is the ambition that the conference in Malaysia would include government officials active in promoting SME development in general and SME access to finance more precisely. The SME Working Group typically consists of officials working on SME and entrepreneurship development and should therefore be an appropriate audience. In addition, the SMEWG has a proven record of accomplishment of liaising with and informing policy experts at other parts of the government on specific topics. Finally, specific outreach efforts could be undertaken with the Malaysian authorities to invite specific officials (or from specific organizations) from APEC economies for the event.

Dissemination

The main output of the projects would be collected in a policy paper with the preliminary working title “Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem.” this study would be disseminated to a broad audience by both the OECD, APEC and other interested economies. This document could be shared to key stakeholders in print and to a wider audience online on the APEC Publication website. All output would be publicly available without costs. In addition, a highlights document, including the most salient insights of the full report only in an attractive and succinct format, could be disseminated. 

The OECD would be the knowledge partner in this project and could therefore use its own channels to guarantee broad outreach, mainly through its committees and working parties and its website. Ideally, the output would be presented as a joint APEC-OECD product with shared intellectual property rights, following precedents. 

The main audience would be policy makers of APEC economies and beyond, such as from development banks, ministries and SME agencies. In addition, the project would be of interest to academics and researchers, as well as to practitioners in financial services, both from banks and other established actors, as well as from entrants.

Gender

Part of the research would be conducted by women, and an effort would be made throughout the process to consult and collaborate with both female and male experts on Fintech. In addition, there should be a fair representation of women in the SMEWG meeting in Malaysia. experts on Fintech. In addition, there should be a fair representation of women in the SMEWG meeting in Malaysia. Special consideration should be given to allow a female entrepreneur to share her experience in accessing appropriate sources of finance during the meeting. The project would strive to have broadly equal representation of women and male experts, speakers and participants. When that proves impossible, at least 30% of experts, speakers and participants will be women. Clear communication in advance and outreach efforts to female experts should make the above possible. 

There is evidence that there is access to finance is typically more problematic for women-owned enterprises, that their “financing gap” is more pronounced, and they are more likely to be financially excluded. For that, Fintech (and hence policies to support Fintech for SMEs) will likely have a disproportionate impact on women-owned businesses. The project would aim to collect gender-disaggregated data and find evidence on the impact of policies in this area by the gender of the principle owner of the business to the extent possible. 

The project would therefore mainly promote women’s economic empowerment through the first pillar of the APEC gender criteria guide, i.e. “access to capital and assets, including through such sources as land and personal property, participation in the workforce, and financial services,” and to some extent also on “Innovation and technology” given the innovative nature of many fintech instruments. 

PO is committed to collecting sex disaggregated data for all speakers and participants (not only those funded by APEC) at the project event.  This data will be included when submitting a Completion Report to the Secretariat upon completion of the project, as well as providing guidance to future POs on their own gender parity targets.

Work Plan

Time

Task

Deliverable

December 2019 – January 2020

Seek for Contractor and Assign a team of experts to work on the project

Gain insights on key challenges and opportunities

February 2020

Design a draft survey to be circulated to interested organizations and jurisdictions to engage with key stakeholders

Find information on relevant policy approaches and their impact/success



February 2020

Identify key contacts for the distribution of the survey such as development banks, SME agencies and ministries

Develop a list of contacts

March – May 2020

Conduct documentary research on Fintech services available for SMEs in APEC economies and possibly beyond, and on regulatory approaches

Draft skeleton report Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem

March – May 2020

Distribute the survey to key contacts and collect results. Follow up with requests for clarifications and/or additional information if necessary

Send the report to contacts and collect survey results

April – June 2020

Contact key experts and stakeholders and follow up with them, possibly through interviews and videoconferences

Prepare list of interviewees.

April 2020

Submit APEC Project Monitoring Report

APEC Project Monitoring Report

July – August 2020

Draft preliminary sections on the uptake of Fintech solutions by SMEs and entrepreneurs and how it benefits their expansion and business success

Draft chapters.

July – August 2020

Draft preliminary sections on on regulatory approaches of the fintech industry in APEC economies and beyond.

Draft chapters.

August – September 2020

Share the draft sections  with key stakeholders for feedback and incorporate their feedback

Draft second version of the relevant chapters.

August – September 2020

Compile an overview of good practices and lessons learned on how to stimulate

Draft first draft of this section of the report.

the SME take-up of fintech, thereby providing guidance for interested organizations. This would include the main insights of the survey exercise and interviews with government bodies.

September 2020

Present the main preliminary insights of the different sections of the report during the APEC SME Week in Malaysia on the margins of the SMEWG 51st Meeting. This would allow the sharpen the key messages, heighten the usefulness for policy makers and build capacity among key stakeholders.

Prepare power point and presentation.


September – October 2020

Gather feedback from participants of the Malaysia meeting, and in written so as to finalize the report.

Presentation and discussion of main insights

November 2020

Finalize the report and the highlights document summarizing the main insights. The comments received will be incorporated.

Drafting of Policy Paper, Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing, Ecosystem including a highlights document.

November 2020

Submission of the report to the APEC Secretariat for review and approval.

Submission of report

December 2020

Disseminate the report and highlights document. and the report will be widely shared among interested parties, in particular government agencies and ministries from APEC economies. Use digital tools and online media to increase outreach.

Dissemination of the report, Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem

February 2021

Drafting, endorsement and submission of the APEC Project Completion Report and all supporting documents to the Secretariat

APEC Project Completion Report

June 2021

Participation in the Long Term Evaluation of APEC Projects conducted by the Secretariat

Long Term Evaluation Responses

Risks

Risk

Management Strategy

Risk of not finding suitable contractor to conduct the project

To date, the PO has stablished conversations with the Centre for Entrepreneurship, SMEs, Regions and Cities of the OECD in order to assess them as contractors of the project.

Risks of not being able to engage APEC relevant participants

In one side, the project contemplates the dissemination of preliminary reports to key APEC working groups and steering groups so they can make comments and contributions.

In addition, to lower the risks of low participation and finding APEC relevant participants, the preliminary results will be formally presented in the 51st SME Working Group meeting.

Economies not applying knowledge learned or adopting recommendations from the project

This project represents the continuity of the International Fintech Summit project (SME 05 18A), implemented on September, 2019, which represented a first landmark regarding the challenge for public policy integrating Fintech to better support SMEs & Entrepreneurs. Section 12 of this proposal provides more information about other links with APEC work on the topic and related issues.

As more empirical knowledge is needed in order to develop the right recommendations for policy makers, this project’s will represent concrete the knowledge to foster awareness of the Fintech industry in APEC economies through.

In addition, there is great interest on fintech developments across APEC economies, as evidenced in the Fintech Summit, the SME Working Group and the number of economies who endorse this project, as well as recent developments in the support landscape.

Monitoring and Evaluation

Various drafts (including an overview of the main research questions and different sections) on the impact of Fintech developments for SMEs, as well as on regulatory approaches will be circulated for comments and feedback among APEC and OECD members. This would allow to gauge their interest and relevance throughout the process and make changes to the outline if necessary. 

Similarly, various drafts of the document highlighting lessons learned and policy recommendations will be subject to scrutiny from interested jurisdictions and organizations with a view to include correct and up to date information and specially to improve the relevance of the policy recommendations. Again, this would happen on several occasions allowing multiple opportunities to incorporate feedback. 

Special scrutiny will be placed on the gender aspect of this project throughout this process. 

A key performance indicator would be the development of a limited number of concrete and useful policy recommendations based on various good practices. A survey could be conducted at the end of the process to evaluate the project, as well as to stay abreast about how these recommendations will be put into practice and stay abreast about policy developments more generally. 

The turnout of the conference, including by women, as well as their opinion afterwards, will represent another key performance indicator of the project. A post-workshop evaluation exercise will be conducted to understand the outcomes of the event and experience of the participants in order to provide insights into the outcome and success of the event. 

Data will be collected through various means such as desktop research, interviews (either in person or by phone), surveys, fact-finding missions and collaborations with experts and international organizations. 

The table below provides more detail on the outputs, key performance indicators and targets of this project: 


Outputs

Key performance indicators

Targets

Draft report: Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem

Number of experts and organizations consulted and interviewed throughout process.

At least 10 organizations from APEC economies and 5 from other economies with advanced policies on fintech for SMEs as well as 5 experts.

Questionnaire

Number of responses

To be send to all APEC economies with at least half of them sending a detailed response

Fact-finding/capacity building missions

Number of experts and organizations consulted and participating in the capacity building workshops

Ideally five organizations for every mission

Project report: Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem

Number of pages

At least 100

Project report: Public Policy, Fintech and SMEs: Recommendations for Promoting a New Financing Ecosystem

Number or recommendations

At least 10

Highlights document

Number of pages

12

Conference in Malaysia

Number of participants

At least 50, including from as many APEC economies as possible.

Conference in Malaysia

Number of female participants

Ideally roughly half, at the very least 30%

Conference in Malaysia

Number of speakers

At least 8, with at least 30% of them female

Linkages

There is plenty of previous experience worked out through different APEC instances but the majority revised work focuses on specific subjects of Fintech which makes them lack of strategic public policy vision which is the key capacity this project wants to build on participants, especially in developing economies. I.e.: Workshop on Secured Transactions: Best Practices for Dynamic Business Growth, México, 2018; APEC Fintech E-payment Readiness Index Ecosystem Assessment and Status Report, TRPC – Australian APEC Study Centre, RMIT University; Conference on Innovation for Micro, Small, and Medium Enterprises Through Credit Infrastructure and Achieving Greater Financial Inclusion Through Digital Finance, Philippines, 2016; Fintech in China, Submitted by: Dingding Loan Investment Advisory (Beijing) Co., Ltd.; APEC International Fintech Summit, Chile, 2019.

Taking into account the previously mentioned, the scope of this project aims to identify those spaces that allow, on one hand, design policies that encourage the development of the Fintech industry in APEC economies and, on the other hand, promote the benefits derived from the industry Fintech as a means of financial inclusion for SMEs and entrepreneurs in the APEC region and member economies.

Sustainability

One of the project’s’ goals is to focus on deliver knowledge on hoe Fintech can be a financial inclusion driver not only for SMEs but for women-led SMEs and women-entrepreneur. Specifically, the project will contribute to build capacity for enabling MSMEs and SMEs to take advantage of opportunities to globalize their businesses, which is identified as an important goal of APEC. 

The project will summarize conclusions and deliver recommendations on the discussed topics – impact of Fintech on SME access to finance, public policy & regulation – in both, draft and final reports. As this reports are disseminated, the PO hopes the different APEC participants can use and apply it on their own economical contexts. 

In addition, the project’s spirit is to strengthen the knowledge and awareness of the Fintech industry in APEC economies through conducting a research that focuses in deliver empirical evidence on the potentiality for public development agencies to integrate Fintech’s cross-cutting edges that could facilitate access to finance and financial services for SMEs, representing a milestone to APEC Forum and its mid-long term related work on financial inclusion. This, with the long-term objective and impact vision to develop a source of knowledge that can serve APEC members, specially policy makers and SMEs. 

The presentation of the results on the margins of the SME Working Group will enable a broad number of relevant policy makers in this area to learn about the project and its recommendations. The fact-finding missions and questionnaire approach will also likely insure buy-in from a sizeable number of experts and organizations throughout the process. Moreover, the report will also be widely disseminated and promoted throughout OECD channels.

Project Overseers

Manuel López

Title: Project Manager

Tel: +56 22 473 34 47

Mobile: +56 9 99 64 7373

E-mail: mlopezb@economia.cl

Organization: Ministry of Economy, Development and Tourism

Mr.   Manuel López is a Senior Advisor of the SME Division of the Ministry of Economy, Development and Tourism of Chile, the public body that designs and implements public policy with focus on SME.

Cost Efficiency

Not Applicable.

Drawdown Timetable

Not Applicable.

Direct Labour

There are basically 4 missions foreseen:

1)  three fact-finding missions; and

2)  one on the margins of the SMEWG Meeting.

·  That amounts to 160 hours and another 80 hours for the preparation of these missions.

·  The preparation, submission and digestion of the surveys and phone interviews amount to another 160 hours (a full month).

·  The first draft on the regulatory aspects would take 240 hours, and another 240 for the first draft of the relevance and take-up of fintech for entrepreneurs and SMEs (three weeks each for a team of two people).

·  Compiling an overview of good policy practices to support the update of fintech solutions by SMEs: 640 hours (two months for two people)

·  Consolidating the first draft of the full report would take 80 hours.

·  Integrating comments and feedback and preparing a second draft would amount to 160 hours.

·  Finalization of the report (including re-reading and formatting and integrating a second round of comments) would take an estimated 200 hours

·  Preparation of the highlights document: 40 hours

In addition, the results of the project are expected to be presented in the following formats:

1.  In the 51st SMEWG Meeting in Malaysia (no travel eligible funding)

2.  In an APEC Publication

Waivers

The project is expected to be developed by a contractor, in this case the Centre for Entrepreneurship, SMEs, Regions and Cities of the OECD.

The PO has proven experience working with them on the annual elaboration of the publication of the “Financing SMEs and Entrepreneurs: An OECD Scoreboard” which gives an in-depth look to the public-private financing schemes of OECDE members. In this sense, the contractor has developed extensive work on the subject of SME access to finance and on digitalization, and are therefore well placed to develop the work.

In addition, a supporting element must be taken into account: APEC’s PSU and the OECD signed in 2018 an MoU for collaboration in different matters, which gives this frame of work more sustentation.

Are there any supporting document attached?

No 
Attachments
Version: 4.0 
Created at 24/02/2020 17:23  by Lucy Phua 
Last modified at 19/11/2020 12:19  by Lucy Phua 
Version HistoryVersion History

Project No.

Project Title

Project Status

Publication (if any)

Fund Account

Sub-fund

Project Year

Project Session

APEC Funding

Co-funding Amount

Total Project Value

Sponsoring Forum

Topics

Committee

Other Fora Involved

Other Non-APEC Stakeholders Involved

Proposing Economy(ies)

Co-Sponsoring Economies

Expected Start Date

Expected Completion Date

Project Proponent Name 1

Job Title 1

Organization 1

Postal Address 1

Telephone 1

Fax 1

Email 1

Project Proponent Name 2

Job Title 2

Organization 2

Postal Address 2

Telephone 2

Fax 2

Email 2

Declaration

Project Summary

Relevance

Objectives

Alignment

TILF/ASF Justification

Beneficiaries and Outputs

Dissemination

Gender

Work Plan

Risks

Monitoring and Evaluation

Linkages

Sustainability

Project Overseers

Cost Efficiency

Drawdown Timetable

Direct Labour

Waivers

Are there any supporting document attached?

hdFldAdmin

Project Number

Previous Fora

Secretariat Comments

Reprogramming Notes

Consolidated QAF

Endorsement By Fora

PD Sign Off

Batch

Forum Priority

Committee Ranking Category

Committee Priority

PDM Priority

Priority Within Funding Category

Monitoring Report Received

Completion Report Received

PMU Field 1

PMU Field 2

PMU Field 3

On Behalf Of

Proposal Status

Originating Sub-Forum

Approval Status
Attachments
Content Type: Standard Proposal
Version:
Created at by
Last modified at by
Go Search