About 60 percent of exporters come from the MSME sector. “MSME borrowers either face higher borrowing costs or are forced to turn to informal lenders for their financing requirements. I urged you, industry leaders, to be mindful of this and to help prevent further proliferation of this practice. He said creditors most of the time did not know what was the capacity of the borrowers and borrowers usually did not communicate this to creditors. Arriola said he would also push for the CMAP membership base to cover practically all industries involved, either as provider or taker of credit.

Source: The Standard July 09, 2017 11:37 UTC