Canada launches plan to boost small, medium enterprises

TORONTO, June 26 (Xinhua) -- Canadian Prime Minister Stephen Harper launched here a plan to boost development for small and medium enterprises on Saturday when he made remarks to international business leaders at the G20 Business Summit (B20).

Introducing the G20 Small and Medium Enterprise (SME) Finance Challenge, Harper also used the opportunity to announce that Canada will be providing financial support for the initiative.

"Small and medium enterprises are the single largest contributor to employment and job creation, in Canada and around the world," said Prime Minister Harper. "This G-20 initiative will help provide developing countries with the access to financing they need to get their small businesses up and running."

The SME Finance Challenge is intended to expand business opportunities and create jobs by inviting the private sector -- financial institutions, private investors, companies and foundations, among others -- to develop proposals that will attract private investment for small businesses in low-income countries.

The best proposals will be presented at the G20 Summit in the Republic of Korea, November 11-12. The G20 has committed to ensuring public funding is available to implement the winning proposals.

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