November 15, 2005
The total value of financing extended to small and medium enterprises by domestic banks has climbed
NTD 47.7 billion from the end of June to
NTD 2.9155 trillion as of the end of September, according to the Financial Supervisory Commission. What’s more, this total value marks an increase of
NTD 229.7 billion from the end of September 2004.
The FSC activated a program designed to encourage domestic banks to boost financing to SME on July 1 this year. The commission cited these latest figures as evidence the program is achieving its goals. It further predicts that there will be a total increase of
NTD 200 billion in SME bank financing from the end of June this year to the same time in 2005.
Incentive measures offered to banks that qualify under the program include permitting limited-service bank branches to upgrade to full-service banks and granting automatic approval for the relocation of branches across county and city borders. Many banks have introduced special SME financing programs since the program's introduction.
Taiwan's versatile and dynamic SME played a vital role in the nation's "economic miracle," and continue to do so as they branch out into new sectors such as information technology and biotech.
(Central News Agency)
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