The SFE builds on an earlier memorandum of understanding (MOU) between MAS and IFC on the financial trust corridor (FTC) initiative to drive wider financial knowledge sharing, financial trust building and financial inclusion for MSMEs and financial institutions in developing markets.
The Monetary Authority of Singapore (MAS), together with the International Finance Corporation (IFC) and the United Nations Development Programme (UNDP), have launched an open financial education and action programme for micro, small and medium sized enterprises (MSMEs) in Asia and Africa.
The programme, known as the SME Financial Empowerment (SFE), aims to help MSMEs build foundational digital financial literacy skills. It also aims to help MSMEs understand the relevant cross-border financial services better, to help them thrive in the post-pandemic digital economy.
