105,415 research outputs found
ADB–OECD Study on Enhancing Financial Accessibility for SMEs: Lessons from Recent Crises
During the era of global financial uncertainty, stable access to appropriate funding sources has been much harder for small and medium-sized enterprises (SMEs). The global financial crisis impacted SMEs and entrepreneurs disproportionately, exacerbating their traditional financing constraints. The financial conditions of many SMEs were weakened by the drop in demand for goods and services and the credit tightening. The sovereign debt crisis that hit several European countries contributed to further deterioration in bank lending activities, which negatively affected private sector development.
The global regulatory response to financial crises, such as the Basel Capital Accord, while designed to reduce systemic risks may also constrain bank lending to SMEs. In particular, Basel III requires banks to have tighter risk management as well as greater capital and liquidity. Resulting asset preference and deleveraging of banks, particularly European banks with significant presence in Asia, could limit the availability of funding for SMEs in Asia and the Pacific. Lessons from the recent financial crises have motivated many countries to consider SME access to finance beyond conventional bank credit and to diversify their national financial system.
Improving SME access to finance is a policy priority at the country and global level. Poor access to finance is a critical inhibiting factor to the survival and growth potential of SMEs. Financial inclusion is thus key to the development of the SME sector, which is a driver of job creation and social cohesion and takes a pivotal role in scaling up national economies.
The Asian Development Bank (ADB) and the Organisation for Economic Co-operation and Development (OECD) have recognized that it is crucial to develop a comprehensive range of policy options on SME finance, including innovative financing models. With this in mind, sharing Asian and OECD experiences on SME financing would result in insightful discussions on improving SME access to finance at a time of global financial uncertainty. Based on intensive discussions in two workshops organized by ADB in Manila on 6–7 March 2013 and by OECD in Paris on 21 October 2013, the two organizations together compiled this study report on enhancing financial accessibility for SMEs, especially focusing on lessons from the past and recent crises in Asia and OECD countries.
The report takes a comparative look at ADB and OECD experiences, and aims to identify promising policy solutions for creating an SME base that is resilient to crisis, from a viewpoint of access to finance, and which can help drive growth and development
Property Taxation in the People\u27s Republic of China
A property tax is a general tax imposed on all property owners based on the value of their properties. Property taxation is common throughout the world due to its numerous advantages. It is regarded as a steady source of local government revenue. The property taxation system in the People’s Republic of China (PRC) is still developing and does not include important features that would make it efficient. For instance, residential property is excluded from the tax base. This has contributed to real estate speculation, income disparity, and revenue losses. A well-functioning local property tax system in the PRC would provide an efficient, equitable and sustainable way to finance local development and government spending. By helping to align expenditure responsibilities with revenue allocations at the local level, property taxation could reduce inequality in the provision of public goods and foster local government ability to provide them. Further, it will reduce the incentive for speculative behavior mitigating housing bubbles. To further develop property taxation in the PRC it is recommended to gradually strengthen and expand the existing pilots, supported by clear principles on the delegation of taxation responsibilities, the definition of a nationally standardized tax base, an affordable tax rate, and enhanced local government capacity
Landscape, environment and community impacts of nuclear power
This paper is the third in a series of 8 that make up the evidence base for SDC report 'The role of nuclear power in a low carbon economy'.This document investigates the landscape impacts of all the processes involved in nuclear power from mining the fuel ore to power transmission lines. Water use, community and employment impacts are also covered.Publisher PD
Gender Equality and Social Inclusion Assessment of the Energy Sector: Enhancing Social Sustainability of Energy Development in Nepal
In Nepal, deeply embedded structural conditions determined by gender, caste or ethnicity, religion, language, and even geography have made access to and benefits from energy resources highly uneven. Women, the poor, and excluded groups experience energy poverty more severely. To address this imbalance, the government and other stakeholders have introduced measures to achieve greater gender equality and social inclusion. This study is an attempt to understand the factors affecting the outcomes and extent to which the initiatives have fostered gender equality and social inclusion. The study recommends measures to facilitate the distributive impact of energy sector development if Nepal is to meet its target of ensuring energy access to all
Cambodia’s New Technical and Vocational Education and Training Policy
Key Points: Cambodia’s demographic divident offers great opportunities, but its human resource base remains largely low-skilled. It will be critical for Cambodia not only to improve education and technical and vocational training for young people entering the labor market, but also to upgrade the skills of the existing workforce. Technical and vocational education and training (TVET) is indispensable to socioeconomic development as it produces the skilled workers and technicians an evolving and modernizing labor market needs. The National TVET Policy will guide the government’s skills development strategies and coordinate all parties involved. The policy presents a clear vision, goals, objectives, and strategies to develop human resources with the competencies and skills that promote socioeconomic development today and in the future
Gender Equality Results Case Study - India: Urban Water Supply and Environmental Improvement Project
Development Aims and Impacts. The Urban Water Supply and Environmental Improvement Project sought to provide basic services of water supply, sanitation, and garbage collection and disposal in four cities in Madhya Pradesh, India. Impacts include increased access to sustainable water supply and enhanced sanitation infrastructure in these four cities. Over 5.6 million people benefited from improved water supply, while half a million people benefited from an improved wastewater management system and 4.7 million people benefited from an improved solid waste management system. These changes positively impacted the lives of the local community, in particular women and girls, who are primarily responsible for water management. The active participation of women was encouraged and supported, and over 70% of the members of the community group committees (CGCs) were women. The CGCs were responsible for coordinating and overseeing the initiatives concerning water supply and sanitation, and they continue to operate even after the completion of the project, liaising with local government officials. Women built on skills developed during the social mobilization initiatives and other project activities to ensure improved income generation, with many of them continuing to be active leaders at the community level.
ADB Processes and Management Tools. The project design included a gender action plan. A gender manual was developed to guide the integration of gender in the project. Special measures were taken to ensure women’s participation in community-driven planning and decision making. Targets for participation of women in community-based organizations or CGCs were closely monitored, and variations were followed up by both the nongovernment organizations—responsible for organizing, mobilizing, and capacity building of CGCs—and the project staff. The project also partnered with other organizations with capacities related to gender equality that helped in the initial gender analysis of the water and sanitation sector
Toward Adopting a Skills Development Fund for Cambodia
Key Points: Cambodia is endowed with an ample supply of labor, but the labor force is characterized by low levels of education and skills. As technological change and competitiveness increase, there is a growing demand for an adaptable workforce with both cognitive and noncognitive skills. The government has an important role in ensuring access to basic education and technical and vocational training to a qualification and standard that supports entry into the workforce, but partnership with industry in workforce development is even more essential in responding to the changing demands of technology in the workplace. Countries are exploring different partnership models toward ensuring actual training is funded and driven by industry. Experiences also show that industry is a reluctant partner at the outset, and that piloting a skills development scheme to build credibility and confidence among partners, especially industry, is important before a full-fledged skills development fund can be established
Gender Equality in the Labor Market in the Philippines
This report on gender equality in the labor market in the Philippines is drawn from studies by a team of international consultants selected by the Asian Development Bank (ADB) for a technical assistance project on promoting gender equality in Asian labor markets for inclusive growth, implemented in cooperation with the International Labour Office (ILO), Bangkok. This report comprises a gendered analysis of the Philippines’ labor market, policies, and legislation, and provides recommendations for policies and legislation that have the potential to expand or improve employment and work opportunities for women in specific sectors in the Philippines. The report provides a summary of findings and recommendations that are specifically relevant for the Philippines from an analysis of gender equality and the labor markets in Cambodia, Kazakhstan, and the Philippines, and two global good practice reviews: one on social and economic policy and the other on legislation (ADB 2013a; ADB and ILO 2013a; ADB and ILO 2013b)
Gender Equality Results Case Study - Bangladesh: Small and Medium-Sized Enterprise Development Project
Development Aims and Impacts. The Small and Medium-Sized Enterprise Development Project supported the development and expansion of small and medium-sized enterprises (SMEs) in Bangladesh from 2009 to 2013. In specific pilot districts, the number of women-owned SMEs increased by over 10%. The training of women SME owners in business development, accounting, loan application rules and processes, and in the regulations governing businesses facilitated their improved access to institutional finance. The formation of advocacy groups and membership in different associations enhanced the confidence of women SME owners and their ability to lobby for policy changes. Dialogue and relation building between participating financial institutions and women’s SME associations helped foster mutual understanding and cooperation, leading to better outcomes for women-owned SMEs. Participating financial institution policies and products require further adaptation to meet the needs and circumstances of women- owned SMEs.
ADB Processes and Management. Overall, factors that contributed to the project’s gender equality results were (i) inclusion of a technical assistance (TA) element that specifically focused on women entrepreneurs; (ii) single-source selection of the Bangladesh Women Chamber of Commerce and Industry (BWCCI) as the implementing agency for the TA; (iii) proactive role of the Asian Development Bank (ADB) in managing the project; and (iv) rapport established between the Ministry of Finance, the Bangladesh Bank, ADB, and the BWCCI. The project also led to unexpected positive results, especially in the area of policy changes favoring women-owned SMEs. The project epitomizes a successful public–private partnership in TA through the joint and complementary working relationship among the Ministry of Finance, the Bangladesh Bank, and the BWCCI
Reducing Youth Not in Employment, Education, or Training through JobStart Philippines
Key Points One in four young Filipinos are not in employment, education, or training. One in two young women with high school education or less are not in employment, education, or training. Creating wage jobs for the youth is critical to help reduce poverty and income inequality in the Philippines. Active labor market programs encourage employment creation and employability of workers, increase their earning capacity, and enhance integration into the productive workforce. In 2011, the Department of Labor and Employment (DOLE) of the Philippines collaborated with the Asian Development Bank (ADB) to design and develop JobStart Philippines, a pilot project assisting at-risk youth to become job-ready. JobStart Philippines is an employer-led program and offers at-risk youth life skills training, one-on-one career coaching, and opportunities for technical training and internships with private sector employers. Upon successful completion of the pilot, DOLE converted JobStart Philippines into a regular program and Congress enacted the Act to Institutionalize JobStart Philippines Program in 2016, which guarantees program sustainability
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