A research assessment and gap analysis study to assist the European Investment Bank (EIB) in understanding the financing needs of small and medium-sized enterprises (SMEs) in the five project countries and identify market failures. The project will involve onsite visits to each of the target countries to conduct research into the relative importance of factors affecting SME development within each country. It will then develop cross-country comparisons that will illuminate potential avenues for future EIB operations in the region.
With a strong focus on quantitative indicators, the BFC project team will focus their research on five primary areas:
- assessment of the macroeconomic environment as it impacts development of the SME market
- assessment of the financial sector and market failures that constrain SME access to finance
- identification of national market failures in SME finance from both the demand and supply side
- analysis of existing and emerging gaps in private sector financing and potential areas of intervention
- comparative overview of current business models
The results of the research visits will be compiled into five separate country reports, as well as a sixth, synthesis report. The findings and recommendations contained in these reports are then scheduled to be presented at an international EIB roundtable event.