Policies to Optimize the Performance of Credit Guarantee Schemes During Financial Crises
Publication | March 2021
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This policy brief outlines best practices for credit guarantee schemes (CGSs) especially in times of financial crises. It also presents safeguards to mitigate CGS risks associated with moral hazards and adverse selection issues.
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A CGS must be set up and operated within the existing, and unique, financial environment of a country. Yet, it is among the most successful, easily replicable, and market-friendly interventions for excluded borrowers. In this brief, principles to be considered while setting and operationalizing a CGS are provided, focusing on (i) legal and regulatory setup, (ii) corporate governance, (iii) risk management, and (iv) revenue components.
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