LAHORE: The World Bank has shown interest in exploring collaboration with the Small and Medium Enterprises Development Authority (Smeda) to enhance the competitiveness and growth potential of small and medium enterprises (SMEs) in Pakistan. Areas of potential cooperation include access to finance, technology adoption, and skills development.

According to Small and Medium Enterprises Development Authority, a World Bank mission visited Smeda to discuss ongoing SME development initiatives and to seek opportunities for collaboration. The delegation included Kiran Afzal, Senior Private Sector Specialist; Javier Sanchez-Reeza, Senior Economist; and Koan Martin Geven, Senior Economist. Smeda's senior management team, including Sheharyar Tahir, Raja Hassanein Javed, and Javed Afzal, participated in the meeting.

Discussions focused on possible mechanisms for formalizing cooperation, such as a Memorandum of Understanding (MoU) or other collaborative arrangements, to support SME development in the country. Sheharyar Tahir briefed the delegation on the SME Policy 2021 and its action plan, emphasizing ongoing initiatives and the challenges faced by SMEs, particularly in underserved areas.

The briefing highlighted priority areas, including access to finance, export readiness, women entrepreneurship, and microenterprise development, as well as digitalization and e-commerce. Initiatives related to climate resilience and green finance were also discussed as emerging focus areas. The meeting served as a platform to exchange views on strengthening institutional cooperation and expanding support for SMEs, especially underserved enterprises and women-led businesses.