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The report aims to explore and analyze the major gaps in financial inclusion and access to finance in Romania, as identified in the Technical Note on Financial Intermediation prepared in the context of the Financial Sector Assessment Program (FSAP) (2018). The FSAP technical note analyzed the factors at play explaining the relatively low and declining level of financial intermediation in Romania for both the household and the corporate segment and offered policy recommendations to support sustainable enhancement of financial intermediation. The report is organized as follows: chapter one conducts a geo-spatial mapping of financial inclusion and access to finance for both individuals and enterprises. Chapter two is a diagnostic assessment of the state of finance for agriculture and identifies constraints and potential opportunities. Chapter three provides an overview of the role of the cooperative financial institutions in financial inclusion especially in rural areas and recommendations how this may be enhanced.

Access to Finance --- Finance and Financial Sector Development --- Financial Intermediation --- Public and Municipal Finance --- Rural Finance

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Over the past 20 years, Bangladesh has witnessed strong competition among microfinance institutions. Using program-level panel data from 2005-2010, this paper studies the microfinance institutions' recent competitive roles in their pricing of products, targeting strategies and portfolio shifts, as well as their ability to recover loans. The findings do not support the view that newer microfinance institutions are less risk-averse in their targeting, or that increased borrowing among households due to microfinance institution competition has lowered recovery rates. There is also a considerable urban-rural distinction; although newer microfinance institutions tend to attract riskier clients in urban areas, the opposite is true in rural areas. Loan recovery rates are also the highest among the newest microfinance institutions for women in rural areas, suggesting that microfinance institutions may offer distinct products in these areas to attract better-risk clients. The portfolio of newer microfinance institutions also has a greater share of lending for agriculture, and fewer savings products.

Agriculture --- Banks & Banking Reform --- Debt Markets --- Emerging Markets --- G21 --- G28 --- Microfinance --- Rural Development --- Rural Finance

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Agriculture remains economically and socially important in Vietnam despite agriculture's declining share of gross domestic product (GDP). The share of primary agricultural activity in the GDP has fallen to 13 percent, compared with more than 30 percent two decades ago. The active labor force in agriculture remains as high as 45 percent. Chapter one presents an overview of the agriculture and financial sectors. Chapter two presents an analysis of farmers` financial access and use of financial services. Chapter three discusses key trends in agriculture credit and agriculture insurance markets. Chapter four discusses the key institutions and instruments of public sector support for agriculture finance. Chapter five identifies key challenges that are constraining the growth of agriculture finance, and lastly, chapter six identifies major opportunity areas and makes key recommendations to capitalize on the identified opportunities.

Access to Finance --- Finance and Development --- Finance and Financial Sector Development --- Public and Municipal Finance --- Rural Finance

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In most emerging markets, the lack of acceptable collateral is often cited as a key constraint on the provision of credit to agriculture. Three main types of collateral are typically used to finance agriculture: farmland, equipment, and agricultural commodities. In many economies, however, the ability to use farmland as collateral is hindered by the absence of land titles or by inefficient land markets. Likewise, mortgaging or leasing out equipment is not always possible due to the lack of mechanization in agriculture, the absence of a legal and regulatory framework conducive to leasing, or limited secondary markets for equipment in case of default. As a result, the third option, use of agricultural commodities as collateral, is increasingly being explored in various countries, particularly in Latin America, South Asia, and East Africa, where financial institutions have developed credit products that use commodities as collateral for lending. Such agricultural commodities have an established value and market where quick liquidation mechanisms can in theory provide sufficient funds to cover a loan extended against them in case of a default. Overall, commodity-backed finance using agricultural inventories is an important component of a holistic approach to making agricultural credit and professional storage more accessible. In turn, more accessible credit and storage can contribute to food security by: (1) increasing local food processing capacity; (2) reducing post-harvest losses;2 (3) improving the quality of the goods stored under better conditions; and (4) potentially improving incomes for farmers (through a combination of lower postharvest losses and better prices from delayed marketing).

Access to Finance --- Agricultural Sector Economics --- Agriculture --- Collateral --- Contract Farming --- Finance and Financial Sector Development --- Rural Development --- Rural Finance

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Agricultural transformation that involves the production of high-value food products and post-harvest processing is high on the policy agenda in many developing countries. A surge in the demand for high value and processed food products observed in Asia and Latin America is also happening in Africa (Reardon and others 2003, 2013). This profound change is attributable to the growth of the middle-income population spurred by economic development, urbanization, and corresponding dietary changes. Agribusinesses involved in production, processing, and trading have profitable growth opportunities in many regions, especially along with the high-value crops. Governments are eager to promote such businesses that can generate employment opportunities for the rural poor and youth. These businesses also promote exports and increase tax revenues. The study is structured as follows: The introduction contains a brief discussion of the importance of LT agribusiness SME finance. The second section provides a stocktaking analysis covering commercial and development banks, investment funds, and agribusiness companies. It then concludes with a comparative analysis. The concluding section offers overall observations, policy recommendations and suggestions for future research. In the final section, there are five in-depth case studies of distinct types of LT finance providers along with lessons learned.

Access To Finance --- Agribusiness --- Agricultural Sector Economics --- Agriculture --- Finance and Financial Sector Development --- Long-Term Finance --- Private Sector Development --- Rural Finance --- Small and Medium Size Enterprises