Under the Patronage of
Vice-President and Prime Minister of the UAE and Ruler of Dubai
Hon. Giulio Centemero was born in Milan, Italy, in 1979. He holds a BSc in Business Administration and Economics and he obtained an Executive Master in Management of the Public Administration at the SDA Bocconi School of Management. He has a long experience in business administration, since he has served as a member of Supervisory Bodies and BoAs in many renowned companies and organizations, inter alia, Esautomotion S.p.a., F21 SGR S.p.A. and Reti più S.r.l. In 2018, he was elected Member of the Italian Parliament, where he currently heads his political party’s delegation at the Finance Committee in the Chamber of Deputies. Hon. Centemero also acts as PAM representative to the World Bank and serves as Chairman of the PAM Panel on Trade and Investments in the Mediterranean. He organized the meeting on “Alternative Capital Markets for economic growth in the Mediterranean”, hosted by Borsa italiana (the Italian Stock Exchange), in July 2019, which focused on alternative sources of founding to support SMEs and start-ups, and has since been confirmed as an annual event. The PAM “Start-up Market” project is one of the three initiatives he launched in December 2019. The project consists in a digital platform to match start-uppers and investors and provide electronic tools to share better structured “capital calls”, supported by clear and transparent pricing systems. He is married and has a child.
14:00 – 15:30
SME Pillar Session 1 - Financing SMEs in the Digital Era
Small and medium enterprises (SMEs) account for over 90% of firms worldwide. They are the most significant contributors to employment and generate the majority of jobs in developing economies. SMEs are also a substantial contributor to overall value-added in these economies.
However, SMEs face greater financing obstacles than larger firms—they enjoy less access to external finance and face higher transactions costs and higher risk premiums. Almost 70% of SMEs do not use external financing from financial institutions, and another 15% are underfinanced. The total credit required to finance these SMEs fully is over $2 trillion, equivalent to 14% of total developing economy GDP.
The session will discuss how to finance SMEs in this digital era and what challenges are.