The cooperation program strives to enhance MSME competitiveness, specialization, and innovation through capacity building, market access, and digital tools.
MSMEs in Asia and the Pacific face significant financing challenges, with nearly half either unserved or underserved—resulting in a credit gap estimated at $2.5 trillion.
Improving quality of incubators and accelerators, financial access for early-stage startups, and talent development are needed to bolster startups, says ADB report.
An ADB-backed program is helping the country improve its investment climate to attain high-income status by 2045 and transition to a low-carbon economy.