Access to Sustainable Finance for Micro, Small and Medium Enterprises Project

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The development objective of the Access to Sustainable Finance for Micro, Small, and Medium Enterprises (MSMEs) Project for Argentina is to promote access to sustainable finance for MSMEs and to respond effectively in case of an eligible crisis or emergency. The project comprises of four components. The first component, strengthening the capacity of financial sector stakeholders aims to support key financial sector stakeholders to implement relevant actions to facilitate and speed up the transition of the financial sector into a sustainable financial system that is aligned and contributes to the achievement of the Paris Agreement objectives. The second component, promoting access to sustainable finance for MSMEs consists of following sub-components: (i) line of credit; (ii) partial credit guarantee; and (iii) innovative financial instruments. The third component, project management will finance the activities required for the coordination, implementation, monitoring, and evaluation of the project. The fourth component, contingent emergency response component (CERC) is a contingent financing mechanism available to Argentina to have immediate access to Bank financing to respond to an eligible crisis or emergency, defined as an event that has caused, or is likely to imminently cause, a major adverse economic and or social impact associated with natural or man-made crises or disasters.