The XIX Ibero-American Forum on Guarantee and Financing Systems for SMEs closes in Madrid

Highlighting the role of SGRs in financing SMEs

The guarantee sector in Spain has a social base of over 114.000 SMEs and an outstanding risk of nearly €5.000 billion, with financing to date exceeding €26.000 billion. From 2000 to 2012, this SME financing system saw a 641% increase in Latin America, enabling access to financing for more than 2.600.000 micro-enterprises.

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La 19th edition of the Ibero-American Forum on Guarantee Systems y Financing for SMEs The meeting was concluded today in Madrid in a meeting that served mainly to highlight the role of the reciprocal guarantee system Spanish y Latin American in the of small and medium enterprises.

 

This Forum brought together 400 participants from 23 countries in Spain and was also attended by the main organisations and authorities in the field of financing for small and medium-sized businesses worldwide.

 

Organized by avalmadrid, Iberaval and Ibero-American Guarantee Network (REGAR)This meeting was supported by the governments of the Community of Madrid, Castile and Leon and La Rioja. The sessions took place in the cities of Logroño, Valladolid and Madrid on 17, 18 and 19 September respectively.

 

The Spanish guarantee system has a social base of more than 114.000 SMEs and has helped create and maintain more than 700.000 jobsIts outstanding risk is close to 5.000 billion, having formalized more than 26.000 billion since it was launched.

 

For its part, the sLatin American guarantee system, more heterogeneous and recent than the Spanish one, it maintains a very prominent position within its financial panorama, having experienced a growth of 641% in the period 2000-2012 and allowing access to financing for more than 2.600.000 Latin American SMEs.

 

LOS GUARANTEE SYSTEMS: VISION OF MULTILATERAL ORGANISATIONS

 

 

 

 

This event has featured various multilateral organizations that have explained their vision and perspectives of the guarantee systems. To do so, there has been a panel of experts experts from the Latin American Association of Guarantee Institutions (ALIGA)); there European Mutual Guarantee Association (ECMA)); of the Small Industry Loan Guarantee Fund (FOGAPI)); of the Development Bank of Latin America (CAF)) And MERCOSUR Guarantee Fund.

 

 

The closing day recognised the work of guarantee entities with more than 25 years of experience and the role of Enrique Iglesias as Ibero-American Secretary General

 

 

RECOGNITION OF IBERO-AMERICAN GUARANTEE SYSTEMS

The event also served to recognise the work of the Ibero-American guarantee systems that have been in operation for over 25 years: Avalmadrid, Iberaval and the REGAR Guarantee Network.

 

The entities recognized on this occasion have been the Special Technical Assistance and Guarantee Fund for Agricultural Credits of Mexico (FEGA); the Guarantee Fund for Small Industry Loans of Peru (FOGAPI); the Guarantee Fund for Small Entrepreneurs of Chile (FOGAPE); the National Guarantee Fund of Colombia (FNG); the Agricultural Guarantee Fund of Colombia (FAG); the Spanish Confederation of Reciprocal Guarantee Societies of Spain (CESGAR); the SGR of Castilla y León Iberaval and that of the Community of Madrid, Avalmadrid.

 

On the other hand, the organizers have thanked Enrique Iglesias on his role as the first Ibero-American Secretary General and his work to promote financing for SMEs, especially those in Latin America. His work at the head of SEGIB has also earned him numerous international awards and recognitions, including the Prince of Asturias Award and the Grand Cross of Isabel la Católica, as well as the highest decorations in Latin American countries.

 

This event, which was held this morning at the headquarters of the Presidency of the Community of Madrid, also included the intervention of Director General of Industry and SMEs, Victor Audera, Noted that The Ministry of Industry, Energy and Tourism considers the System of Reciprocal Guarantees as a very useful instrument of non-bank financing, in line with European guidelines, and stressed the commitment to strengthen the system as set out in the Agenda for strengthening the industrial sector in Spain.

 

Also, the General Manager and Head of Companies, SMEs and Institutions at Banco Santander, Ángel Rivera, He took advantage of his speech to underline the bank's commitment to SMEs in all the markets where it operates, through the strategy launched this year, Santander Advance, and to highlight the attitude of open collaboration with the mutual guarantee societies. “Few economic actors today doubt the key role that guarantee schemes have played in Latin America. Because of the dynamism they have created, because of their progressive specialization, which increases their capillarity, as well as because of the will to join forces with private initiative to amplify their effectiveness.”

 

The closing ceremony was held by the Minister of Economy and Finance of the Community of Madrid, Enrique Ossorio, who stressed the importance of the guarantee system so that credit flows to SMEs and self-employed workers in our country, true creators of wealth and employment.