International development banks gather for inaugural meeting of The Montreal Group
MONTREAL, Sept. 28, 2012 /CNW Telbec/ - The Montreal Group, a global forum of state-supported financial development institutions spearheaded by the Business Development Bank of Canada (BDC), gathered for its first General Assembly and Board of Directors meeting. The forum was established to encourage an exchange of ideas and best practises with the aim of assisting micro, small and medium-sized enterprises (MSME) with their business challenges. MSMEs represent a significant part of the economic activity of all nations.
During the initial start-up phase, The Montreal Group will set up an online repository of practices to facilitate the exchange of expertise on key subject matters, such as intangible asset finance, debt guarantees and key performance indicators. The Group's first working session runs from September 27-28, 2012.
"Entrepreneurs face many challenges in increasingly globalized national economies, which call for new strategies and models of collaboration," said Jean-René Halde, President and CEO at BDC. "The Montreal Group aims to create a network where members can share and exchange MSME knowledge and best practices. The goal is to improve our individual abilities to support our clients and eventually develop a foundation for global development representation."
A Memorandum of Understanding of The Montreal Group was signed, bringing together seven founding members: BDC (Canada), BNDES (Brazil), China Development Bank, Nafinsa (Mexico), OSEO (France), SIDBI (India) and Vnesheconombank (Russia).
Canada's business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, venture capital and consulting services to 29,000 small and medium sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
Image with caption: "International development bank members attending the inaugural meeting of The Montreal Group. (CNW Group/BUSINESS DEVELOPMENT BANK OF CANADA)". Image available at: http://photos.newswire.ca/images/download/20120928_C2594_PHOTO_EN_18619.jpg
SOURCE: BUSINESS DEVELOPMENT BANK OF CANADA
For further information:
Senior Advisor, Public relations
Business Development Bank of Canada