Women entrepreneurs. The SMEDP (Small and Medium-Sized Enterprise Development Project) disbursed 6.4% of the total facility to women-led SMEs, falling short of the target of 15.0%. Initial disbursements under this component were slow due to a lack of market awareness among women entrepreneurs. The target was also overly optimistic to comply with the provisions set out in the Refinance Scheme for Women Entrepreneurs of SME, given that the percentage of SME loans disbursed to women entrepreneurs was 3.4% - 3.9% during 2010 - 2013. The interest rate cap at 10.0% on loans to women-led SMEs might have also eroded PFI's (participating financial institution's) motivation for such lending, as PFIs usually lend to general SMEs at a much higher rate.
Small and Medium-Sized Enterprise Development Project