responsAbility Wins G-20 SME Finance Challenge
Zurich, Switzerland, November, 04 2010 -
The Group of Twenty has given Swiss organizations responsAbility and SIFEM an award for their innovative approach to SME financing. The award recognizes the investment solution presented by responsAbility and SIFEM as one of the best possible approaches to unlocking financing for small and medium-sized companies in developing countries and emerging markets.
Small and medium-sized enterprises make a significant contribution to development, and are recognized as a key driver of economic growth. Frequently, however, they experience difficulties when it comes to raising equity finance (for example to fund expansion). This is precisely where the investment solution developed by responsAbility and SIFEM comes in, giving innovative SMEs in developing countries and emerging markets access to capital. At the same time, the solution enables qualified institutional and private investors to tap into the growth potential of thesebusinesses.
“We’re absolutely delighted to receive the G-20 award, and see it as vindication of our investment approach. Our efforts as a development financier will continue to focus on making a valuable contribution on behalf of low-income communities, and earning a financial return for our investors. The award is also recognition of the innovative strength of the Swiss financial market,” says Klaus Tischhauser, CEO of responsAbility.
responsAbility currently manages around USD 900 million, invested in 60 countries, in microfinance, SME financing, fair trade and independent media. The investment products it manages give people in developing countries and emerging markets access to markets, information and other services important for their development. The G-20 award strengthens responsAbility’s resolve to develop further innovative investment solutions that make a positive contribution to social development in developing and emerging economies.