Providing an Umbrella, Rain or Shine: Lessons for Latin America and the Caribbean from Korean Experiences in Productive Development Financing

The small- and medium-sized enterprise financing system in Korea, which has as a standpoint the Industrial Bank of Korea, is a world-class example of a set of long-term policies and actions devoted to creating growth and development. Some of the experiences and lessons learned over time in the evolution of this system are used to derive recommendations for the Latin American and Caribbean region. Although current political and economic contexts are different among countries across the region, Korea's experiences are used to provide a set of recommendations for policymakers.