Jean-Marc Peterschmitt, managing director for central and southeastern Europe at the European Bank for Reconstruction and Development, says: “Banks are still in deleveraging mode, and when they look at their portfolios, unfortunately it is often the SME segment that has seen the worst asset-quality deterioration.”
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Jean-Marc Peterschmitt, EBRD |
That, he adds, is where the EBRD comes in. Supporting SMEs has always been a key part of its remit, but since the financial crisis the bank has both increased the proportion of financing dedicated to the sector – 18% of the EBRD’s total financing commitment of €8 billion went to smaller firms in 2012 – and expanded its range of funding channels.
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