Serbia's Jelasic: microfinance struggling
The microfinance sector has been hit hard by the crisis, said Radovan Jelasic, the governor of the National Bank of Serbia.
Jelasic said that microfinance was struggling due to higher interest rates and - more significantly - a lack of funds. He said that in times of economic crisis, continued access to finance for small businesses was essential. He said that development finance must operate counter cyclically.
The governor made the comments on 26 May.
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