Dosmagambet, Yergali; Oskenbayev, Yessengali; … - 2018
remain SMEs' main source of financing. Due to the higher risks associated with SMEs, they have to borrow money at high …, banks have become more reluctant to lend funds to SMEs. The government's use of a credit guarantee scheme (CGS) relies on … the willingness of second-tier banks to lend to SMEs, since they decide which SMEs to lend to and the effective interest …