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Text:AAAPrint
Economy

APEC formally unveils financial infrastructure development network

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2015-11-13 13:21CRIENGLISH.com Editor: Feng Shuang

The Asia-Pacific Economic Cooperation member economies have formally launched an initiative that will make financial services accessible to more micro, small and medium-enterprises.

Launched in Makati City, Metro Manila, the Financial Infrastructure Development Network is a platform that brought together experts from the public and private sectors to support APEC economies in undertaking financial infrastructure reforms.

While micro, small and medium-enterprises contribute to over 60 percent of total employment among APEC economies, around 40 percent of the financing needs of this sector were not served.

FIDN was established as a socialized subgroup in the Asia-Pacific Financial Forum to promote the development of effective credit information systems.

  

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