Call for Papers: Financing MSMEs for Sustainable Growth amid Global Uncertainty
Micro, Small, and medium-sized enterprises (MSMEs) contribute significantly to employment, innovation, and economic growth globally. However, many MSMEs continue to face financing constraints due to information asymmetry, limited collateral, high transaction costs, and perceived credit risk. These constraints can limit their ability to invest, expand, innovate, and improve their competitiveness (ADB SME Monitor 2025).
Given the bank-centered financial system developed in developing Asia, credit guarantee schemes (CGSs) have become a critical instrument for enhancing MSME access to finance by sharing credit risk between financial institutions and guarantee providers. By facilitating lending to firms that may otherwise struggle to access credit, CGSs can help address financing gaps and support MSME development.
At the same time, MSMEs face growing pressure and increasing opportunities to invest in green technologies, energy efficiency, cleaner production, and climate resilience. Such investments often require substantial upfront investments, while their financial returns may be uncertain or realized over a longer period. This creates an important opportunity to examine how CGSs can evolve beyond their traditional role in facilitating access to finance and contribute to sustainable investment, resilience, and long-term MSME competitiveness (Yoshino, Taghizadeh-Hesary, and Shinozaki 2026).
This edited volume, jointly organized by the Asian Development Bank (ADB) and the Tokai University Research Institute for Environment and Sustainability (TRIES), brings together academic and policy perspectives on the evolving role of credit guarantee schemes in MSME finance. With a particular focus on financing sustainable and resilient MSMEs, the volume examines how credit guarantee schemes can help address financing constraints while supporting sustainable investment, climate resilience, green transition, and long-term competitiveness. It explores emerging approaches to guarantee design and pricing, credit risk assessment, sustainability-oriented finance, financial innovation, and the use of CGSs to mobilize finance for sustainable and resilient MSMEs.
Micro, Small, and medium-sized enterprises (MSMEs) contribute significantly to employment, innovation, and economic growth globally. However, many MSMEs continue to face financing constraints due to information asymmetry, limited collateral, high transaction costs, and perceived credit risk. These constraints can limit their ability to invest, expand, innovate, and improve their competitiveness (ADB SME Monitor 2025).
Given the bank-centered financial system developed in developing Asia, credit guarantee schemes (CGSs) have become a critical instrument for enhancing MSME access to finance by sharing credit risk between financial institutions and guarantee providers. By facilitating lending to firms that may otherwise struggle to access credit, CGSs can help address financing gaps and support MSME development.
At the same time, MSMEs face growing pressure and increasing opportunities to invest in green technologies, energy efficiency, cleaner production, and climate resilience. Such investments often require substantial upfront investments, while their financial returns may be uncertain or realized over a longer period. This creates an important opportunity to examine how CGSs can evolve beyond their traditional role in facilitating access to finance and contribute to sustainable investment, resilience, and long-term MSME competitiveness (Yoshino, Taghizadeh-Hesary, and Shinozaki 2026).
This edited volume, jointly organized by the Asian Development Bank (ADB) and the Tokai University Research Institute for Environment and Sustainability (TRIES), brings together academic and policy perspectives on the evolving role of credit guarantee schemes in MSME finance. With a particular focus on financing sustainable and resilient MSMEs, the volume examines how credit guarantee schemes can help address financing constraints while supporting sustainable investment, climate resilience, green transition, and long-term competitiveness. It explores emerging approaches to guarantee design and pricing, credit risk assessment, sustainability-oriented finance, financial innovation, and the use of CGSs to mobilize finance for sustainable and resilient MSMEs.
Tentative Table of Contents (Indicative Only)
Authors are welcome to propose chapters on related topics that align with the overall theme of the volume. Contributions are not limited to the chapters listed below, and proposals addressing emerging issues at the intersection of MSME finance, credit guarantee schemes, and sustainability are strongly encouraged. Economy-specific case studies and comparative cross-economy analyses are also welcome, particularly those that provide practical insights and policy lessons from different institutional and economic contexts in developing Asia and the Pacific.
Submission Guidelines
Researchers, policymakers, practitioners, financial-sector professionals, and development experts are invited to submit an extended abstract in English. The extended abstract should be approximately 500 words and include:
Chapter title
Authors are welcome to propose chapters on related topics that align with the overall theme of the volume. Contributions are not limited to the chapters listed below, and proposals addressing emerging issues at the intersection of MSME finance, credit guarantee schemes, and sustainability are strongly encouraged. Economy-specific case studies and comparative cross-economy analyses are also welcome, particularly those that provide practical insights and policy lessons from different institutional and economic contexts in developing Asia and the Pacific.
- Part I. MSME Finance, Credit Guarantees, and Sustainable Development
- MSME Financing Constraints and the Role of Credit Guarantee Schemes
- Credit Guarantee Schemes and Sustainable MSME Finance: Concepts and Emerging Trends
- Credit Guarantees, Financial Inclusion, and Inclusive Sustainable Growth
- Measuring the Financial Health, Sustainability, and Resilience of MSMEs
- Part II. Credit Guarantee Design and Risk-Based Financing
- Optimal Credit Guarantee Fees and Risk-Based Pricing for MSMEs
- Optimal Credit Guarantee Ratios and Risk Sharing
- Sustainability-Adjusted Credit Risk Assessment for MSMEs
- Integrating ESG and Sustainability Indicators into MSME Credit Scoring
- Sustainability-Adjusted Credit Guarantee Pricing and Incentives for Sustainable Investment
- Part III. Green Finance and Sustainable MSME Investment
- Financing MSME Investment in Energy Efficiency and Renewable Energy
- Credit Guarantees for Cleaner Production, Resource Efficiency, and the Circular Economy
- Financing MSME Climate Adaptation and Resilience
- Green Lending and Sustainable Finance for MSMEs: The Role of Credit Guarantees
- Part IV. Innovation, Institutions, and Global Experiences
- Emerging Models for MSME Risk and Sustainability Assessment: Artificial Intelligence, Alternative Data, and Digital Technologies
- Digitalization, FinTech, and the Transformation of MSME Credit Guarantees
- Public, Private, and Hybrid Credit Guarantee Models for Sustainable MSME Finance
- Green Credit Guarantee Schemes in Developed Economies: Institutional Models, Innovations, and Lessons
- Green Credit Guarantee Schemes in Emerging and Developing Economies: Lessons and Challenges
- The Role of Multilateral Development Banks in Financing Sustainable and Resilient MSMEs
- The Future of Credit Guarantee Schemes: Financing Sustainable, Resilient, and Competitive MSMEs
Submission Guidelines
Researchers, policymakers, practitioners, financial-sector professionals, and development experts are invited to submit an extended abstract in English. The extended abstract should be approximately 500 words and include:
Chapter title
- Author(s)
- Affiliation(s)
- Background and motivation
- Research methodology
- Expected findings
- Policy implications
KEY DATES:
- Abstract Submission Deadline:
- 15 December 2026
- Notification of Acceptance:
- 30 December 2026
- Full Chapter Submission:
- 31 March 2027
SUBMISSION:
Please submit abstracts to:
- Prof. Farhad Taghizadeh-Hesary, Tokai University, Japan, Email: taghizadeh.hesary.farhad.k@tokai.ac.jp
With copy to:
- Dr. Shigehiro Shinozaki, Asian Development Bank, Email: sshinozaki@adb.org
Email Subject: Book Chapter Submission: Credit Guarantee Schemes and MSME Finance in Asia and the Pacific
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