# **Table of Contents**

|1 Intro|duction ............................................................................................................................ 4|
|---|---|
|2 A B|rief Survey of the Literature ............................................................................................ 5|
|3 The|MENA PCG Survey and the Review Methodology ....................................................... 6|
|3.1|Basic Description of the MENA Survey .................................................................... 6|
|3.2|The Review Methodology .......................................................................................... 7|
|4 Rev|iewing the Design of Partial Credit Guarantee Schemes in MENA ................................ 8|
|4.1|Main Objectives of the Scheme .................................................................................... 8|
|4.2|Eligibility Criteria ......................................................................................................... 9|
|4.3|Coverage Ratios ......................................................................................................... 12|
|4.4|Fees ............................................................................................................................. 14|
|4.5|Payment Rules ............................................................................................................ 17|
|4.6|Collateral and Down-payment Rules ......................................................................... 19|
|4.7|Operational Mechanisms ............................................................................................ 20|
|4.8|Risk Management and Regulation ............................................................................. 22|
|4.9|Capacity Building to Participating Institutions .......................................................... 23|
|4.10|The Use of Counter-Guarantees ................................................................................. 24|
|5 Prel|iminary Assessment of Outcomes.................................................................................. 24|
|5.1|Outreach ..................................................................................................................... 24|
|5.2|Additionality ............................................................................................................... 28|
|5.3|Financial Sustainability .............................................................................................. 30|
|6 Sum|mary of Findings and Policy Implications .................................................................... 33|
|Refere|nces ................................................................................................................................ 35|
|Annex|1. Mission Statements of Benchmark PCGs ................................................................ 39|
|Annex|2. Mission Statements of MENA PCGs ....................................................................... 40|
|Annex|3. Alternative Methods to Assess Additionality........................................................... 40|
|Tables||
|Table|1: MENA Partial Credit Guarantee Schemes included in the Survey .............................7|
|Table|2: Basic Design Components and Outcomes Assessed ...................................................8|
|Table|3: Eligibility Criteria in Benchmark Countries ..............................................................10|
|Table|4: Eligibility Criteria Adopted by MENA PCGs ...........................................................11|
|Table|5: Coverage Ratios in Selected Benchmark Countries ..................................................13|
|Table|6 : Coverage ratios of MENA PCGs ..............................................................................14|
|Table|7 : Coverage ratios in MENA and Benchmark countries ..............................................14|
|Table|8: Fees in Selected Benchmark Countries .....................................................................15|
|Table|9: Fees Charged by MENA PCGs .................................................................................16|
|Table|10: Efficiency of the Judicial Process in MENA and Benchmark Countries ................18|
|Table|11: Payment Rules in MENA ........................................................................................19|

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