Summary of the Chief Economists April Roundtable

Defining additionality in SME-focused public banks

The Montreal Group’s Chief Economists keep discussing how their banks govern additionality

In the most recent roundtable, moderated by Pierre Cléroux from Business Development Bank of Canada, three of our Chief Economists took the virtual floor to delve into some examples of additionality present in their banks´financing activities.

Mauri Kotamäki presented Finnvera Oyj‘s  Environmental and Social Risk Management framework for Finnish Exports and the bank´s Corporate Social Responsibility Framework. Hikaru Fukanuma presented Japan Finance Corporation‘s non-financial services for Japanese SMEs, including a business matching service to tackle an ageing problem in the country and to foster local entrepreneurship. Baptiste Thornary presented the methodological considerations used to assess Bpifrance´s additionality and how they take it from theory to empirical evidence.

This conversation is more important than ever, as our banks´s mandate is to act in complementarity of commercial banks to make sure entrepreneurs all around the world can start and grow their businesses in a sustainable way. A third session is taking place in May 24. Stay tuned!