Unlocking the Potential of MSMEs to Contribute to the SDGs

  • June 27, 2019

  • New York, United States

Today (June 27), the United Nations Capital Development Fund will join international organizations, companies, universities, and UN member states in celebrating micro-, small and medium-sized enterprises. Such institutions account for 90% of global businesses and 60-70% of worldwide employment. They are thus critical in stimulating economic growth, creating decent jobs, eradicating poverty, and improving livelihoods, especially in less developed countries.

In 2017, in recognition of the importance of such organizations, the UN General Assembly designated June 27 as an annual Micro-, Small and Medium-sized Enterprises (MSME) Day. For this year’s celebrations, UN – New York will host a day-long conference on unlocking the potential of MSMEs to contribute to the SDGs. The summit aims to raise awareness of these enterprises’ role in achieving the 2030 Agenda for Sustainable Development, to further the global debate on sustainable development via MSMEs, and to improve support for MSMEs by connecting the public and private sectors.

Fabrizio Cometto, an Investment Specialist, will represent the UNCDF on the Investing in MSMEs panel (11:00 – 12:00, ECOSOC Chamber), which will discuss how to improve MSMEs’ access to finance and how the financial inclusion of MSMEs will help achieve the Sustainable Development Goals (SDGs). Cometto will also present on the importance of investing in MSMEs and on the UNCDF’s contributions to such investment.

This conference will take place today (Thursday, June 27, 2019) from 10:00 – 17:00, with a closing and reception to follow (17:00 – 19:30). It will be located at the Economic and Social Council (ECOSOC) Chamber of the UN Headquarters in New York. It will feature a series of panel discussions focusing on financing MSMEs, building capacity and innovation, integrating MSMEs with the future of work, and supporting MSMEs through ecosystems and policies. The event will be co-hosted by the Permanent Mission of Argentina to the United Nations, the International Trade Center’s New York Office, the United Nations Department of Economic and Social Affairs, and the International Council for Small Businesses. The conference will also be livestreamed via UNWebTV.

Tags: #MSMEDay19

The UN Capital Development Fund (UNCDF) makes public and private finance work for the poor in the world’s 47 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development. UNCDF’s financing models work through two channels: financial inclusion that expands the opportunities for individuals, households, and small businesses to participate in the local economy, providing them with the tools they need to climb out of poverty and manage their financial lives; and by showing how localized investments—through fiscal decentralization, innovative municipal finance, and structured project finance—can drive public and private funding that underpins local economic expansion and sustainable development. By strengthening how finance works for poor people at the household, small enterprise, and local infrastructure levels, UNCDF contributes to SDG 1 on eradicating poverty and SDG 17 on the means of implementation. By identifying those market segments where innovative financing models can have transformational impact in helping to reach the last mile and address exclusion and inequalities of access, UNCDF contributes to a number of different SDGs.