Banks pivotal in resilience and recovery of MSMEs from the pandemic

An ATM machine in a bank. [Getty Images]

In June, the world celebrated the 5th anniversary of Micro, Small and Medium-sized Enterprises Day - MSME Day - with a focus on the need to raise awareness of the tremendous contributions of micro, small, and medium-sized enterprises to the achievement of the Sustainable Development Goals (SDGs).

This is particularly significant in light of global tectonic shifts such as the Covid-19 pandemic, the climate crisis, and the Ukraine-Russia conflict, all of which pose serious threats to SMEs.