UNDP, MAS partner to help SMEs in developing countries to access global opportunities

Tuesday 8 December 2020 10:08 CET | News

The United Nations Development Programme (UNDP) Global Centre for Technology, Innovation, and Sustainable Development has partnered with the Monetary Authority of Singapore (MAS) to help SMEs leverage technology to better access global value chains. 

The partnership will provide SMEs with innovative financial and digital tools to help them better leverage data and more effectively access financing solutions. It will also create new opportunities for SMEs, including fintechs, to expand to developing countries within the UNDP’s global network of 170 offices. This partnership will start by bringing together three successful programmes from UNDP and MAS, namely Cultiv@te, Business sans Borders, and API Exchange. 

Cultiv@te is UNDP’s innovative agri-tech programme that sources for new solutions from startups and R&D teams worldwide. Business sans Borders (BSB) is a joint initiative by MAS and Infocomm Media Development Authority to provide an open and global digital infrastructure for trade discovery and digital business services connectivity. API Exchange (APIX) is an MAS-supported cross-border, open innovation API platform which acts as a curated global marketplace for financial institutions and FinTechs. 

SMEs play a critical role in the global economy, especially in developing countries. Yet these companies face significant challenges to access financing to support their growth. This problem has been further exacerbated by the impact of the COVID-19 pandemic, according to the official press release.

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Keywords: UNDP, MAS, SME, developing countries, United Nations Development Programme, Monetary Authority of Singapore, Cultiv@te, Business sans Borders, API Exchange, APIX
Categories: Banking & Fintech
Countries: World
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