In the margins of the 2022 ECOSOC Financing for Development Forum, UNCDF hosted the event, “Guarantee mechanisms as catalysts of LDC structural transformation".

The event was moderated by Nancy Lee, Senior Policy Fellow, Center for Global Development and the panelist were Preeti Sinha, Executive Secretary, UNCDF, KL Wong, CEO, Credit Guarantee Corporation of Cambodia Plc. (CGCC), Kay Parplies, Head of Unit, External Action Guarantees, European Commission, Manuel Moses, CEO, Africa Trade Insurance Agency, and Patrick Egounlety, Group Head Commercial Banking, ECOBANK.

The panelists discussed how guarantees can help attract much needed capital towards structural in least developed countries, with a particular focus on unlocking financing for small- and medium-sized enterprises and infrastructure projects. Panelists highlighted the gap between real and perceived risks, the need for portfolio guarantees to allow banks to scale up without the need for heavy due diligence, and the importance of supporting SMEs, which are the backbone of these economies.

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