26 June 2010
Toronto, Ontario
Prime Minister Stephen Harper today launched the G-20 Small and Medium Enterprise (SME) Finance Challenge during remarks to international business leaders at the G-20 Business Summit (B-20). The Prime Minister was joined by Jim Flaherty, Minister of Finance. The Prime Minister also used the opportunity to announce that Canada will be providing financial support for the initiative.
The SME Finance Challenge is intended to expand business opportunities and create jobs by inviting the private sector — financial institutions, private investors, companies and foundations, among others — to develop proposals that will attract private investment for small businesses in low-income countries.
“Small and medium enterprises are the single largest contributor to employment and job creation, in Canada and around the world,” said Prime Minister Harper. “This G-20 initiative will help provide developing countries with the access to financing they need to get their small businesses up and running.”
The best proposals will be presented at the G-20 Summit in the Republic of Korea, November 11-12. The G-20 has committed to ensuring public funding is available to implement the winning proposals.
