New Delhi, Sept. 14 -- BRICS countries have reaffirmed their commitment to strengthening the internationalisation of micro, small and medium enterprises (MSMEs), identifying access to affordable finance as a major constraint to their participation in global trade and value chains.

The New Delhi Declaration, adopted at the BRICS Summit chaired by India, highlighted the need to improve access to formal finance and trade finance for MSMEs to support their integration into global value chains (GVCs).

New Credit Assessment Framework

The grouping welcomed guiding principles for credit assessment frameworks for export-oriented MSMEs that use diverse data sources to address information gaps and improve risk assessment, reported PTI.

The frame...