Financial assistance to smaller enterprises will be effective in narrowing the economic gaps between urban and rural regions, because it will help strengthen local economies. Hopefully the government’s policy measures for such assistance will prove helpful.
In August, the government started a program under which Credit Guarantee Corporations will guarantee loans extended to smaller enterprises. Inventories and receivables will be put up as security. There are 52 Credit Guarantee Corporations across the country. Their task is to help smooth the borrowing of money by smaller enterprises from financial institutions.
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