Before: The Trends and the Challenges

In recent decades, the global economy has been supported by the robust growth of Asia and the Pacific. The region’s growth has in turn been driven by private sector development. As commonly recognized, the private sector plays a critical role in economic development, income generation, job creation, goods and service delivery, and poverty reduction (IFC, 2011a; OECD, 2007). In Asia and the Pacific, micro, small, and medium-sized enterprises (MSMEs) account for more than 90 per cent of all enterprises (ADB, 2015a; 2020a), and are a major source of incomes and employment. Strengthening their role and dynamics contributes to promoting inclusive growth nationally, regionally, and globally.

Sustainable Development Goals:

No Poverty

Decent Work and Economic Growth

Reduced Inequalities