The Euro-Mediterranean Economists Association – EMEA published 5 new policy papers under the INVESTMED project. EMEA is one of the partners of the EU-funded INVESTMED which is designed to address both the economic and environmental challenges facing Micro, Small and Medium-sized enterprises (MSMEs) in the Mediterranean. The project aims to support MSMEs in improving their competitiveness, sustainability, internationalisation, capacity to innovate, and to create sustainable growth and economic development. These policy papers shed light on key actions that can be taken in the region to strengthen an enabling environment for entrepreneurs to flourish and grow their green, blue, and CCI businesses.
The final 5 policy papers are:
This policy paper provides an analysis of the role of CGSs in promoting MSMEs financial inclusion and the impact of digital strategies. First, this paper provides an overview of MSMEs financial inclusion in the region and the challenges faced by these firms in accessing formal banking services. Second, it reviews the design and performance of guarantee schemes operating in Egypt, Tunisia, and Lebanon (the target countries for the INVESTMED project). The analysis is based on a comprehensive literature review, desk research, survey and interviews conducted with guarantee schemes operating in these countries and a survey conducted with the entrepreneurs participating in the INVESTMED project. The paper clarifies the guarantee schemes’ role in enhancing access to finance for MSMEs and how digital solutions have the potential to enhance their outreach. Finally, it provides policy recommendations on how to strengthen their role.
By Mais Sha’ban, Research Fellow EMEA and Assistant Professor of Banking and Finance at Al-Zaytoonah University of Jordan.
Reviewed by Prof. Rym Ayadi, President and Founder, EMEA and Professor at the Bayes Business School, City University of London
The paper investigates the current state of food security in the Mediterranean. Focusing on Egypt, Lebanon and Tunisia, the paper analyses the main challenges related to food security and relative strategies put in place at the national and regional levels. Moreover, the entrepreneurial perspective on food security-related issues is investigated through a focus group and a survey involving entrepreneurs from INVESTMED project. Finally, the paper provides key policy recommendations adopting an entrepreneurial perspective on food security in the region. Per each food security dimension, the paper highlights the entrepreneurial contribution for its improvement to then formulate the relative policy recommendation.
By Sara Ronco, Researcher, EMEA and Mais Sha’ban, Research Fellow EMEA and Assistant Professor of Banking and Finance at Al-Zaytoonah University of Jordan.
Reviewed by Prof. Rym Ayadi, President and Founder, EMEA and Professor at the Bayes Business School, City University of London
Policy Paper 8: Proposals to Align Education Policy with the Needs of Green and Cultural and Creactive Sectors: the Case of Egypt, Lebanon and Tunisia
Education is key to unlock the potential of the green and cultural creative economy in Egypt, Lebanon and Tunisia. The paper identifies types of education (formal, informal and indirect) and targets different education stakeholders (schools, universities, vocational training, industry partnerships and civil society). The challenges of the educational sector in these three countries are investigated through a survey and desk research. Then several existing policies and practices are identified in the target countries. Finally, key policy recommendations are provided to empower different types of education on green and cultural creative economy.
By Sandra Challita, Associate Professor in Finance at Emlyon Business School, a Research Fellow, EMEA
Reviewed by Prof. Rym Ayadi, President and Founder, EMEA and Professor at the Bayes Business School, City University of London
Policy Paper 9: Fostering Social Enterprises in Egypt, Lebanon, and Tunisia: Challenges and Opportunities
Social enterprises are businesses with a social mission, reinvesting profits to achieve their mission. They combine the societal impact of nonprofits with the efficiency of for-profits. Recognized by the United Nations, they use market strategies primarily for social purposes, playing a crucial role in the Social and Solidarity Economy (SSE) worldwide. The SSE’s political importance has surged due to its significant contributions to decent work and an improved standard of living.
High youth unemployment and a significant number of disengaged young individuals are pressing issues in the MENA region. Gender disparity, particularly the underrepresentation of women in the workforce, compounds these challenges. Social enterprises, aligned with the Social and Solidarity Economy (SSE), offer a dual solution—financial sustainability and impactful change. This policy paper outlines a framework for promoting social enterprises in Egypt, Lebanon, and Tunisia, based on survey data from 33 MSMEs in green, blue, and creative industries. It identifies key challenges and provides targeted policy recommendations for fostering their growth and societal impact.
By Najat El Mekkaoui, Université Paris-Dauphine-PSL, LEDa IRD UMR225 DIAL and Senior Research Felllow, EMEA
Reviewed by Prof. Rym Ayadi, President and Founder, EMEA and Professor at the Bayes Business School, City University of London
We introduce in this paper a vision and actionable guidance for regenerative value driven business, contributing to a wellness-fit economy. In this vision all regenerative value driven companies, while pursuing their growth, strive to ensure that every person contributing to their success is afforded the opportunity to learn, grow and lead fulfilling lives, playing their part to create the conditions required for humanity to flourish within the carrying capacity of our finite planet. After the introduction, building upon our own definition of regenerative economy (section 2) and the regenerative transition scenarios meta-model TRIS (section 3), we eventually describe a regenerative value driven business approach (section 4) and, associated to this, suggest a scheme of Wellness-Fit Business Benchmark to help regenerative value driven business to pursue outcomes that contribute to a Wellness-Fit Society (section 5). Section 6 concludes providing key policy recommendations to foster regenerative value driven businesses growth.
By Carlo Sessa, Senior Research Fellow, EMEA and Prof. Ayadi, President and Founder, EMEA and Professor at the Bayes Business School, City University of London
The INVESTMED Project (InNoVativE Sustainable sTart-ups for the MEDiterranean) is co-funded by the European Union under the ENI CBC Mediterranean Sea Basin Programme 2014-2020. INVESTMED has a duration of 30 months, ending in December 2023, with a total budget of €3.8 Million, of which €3.4 Million (90%) is funded by ENI CBC MED.
These publications has been produced with the financial assistance of the European Union under the ENI CBC Mediterranean Sea Basin Programme under the INVESTMED Project. The contents of this document are the sole responsibility of the Euro-Mediterranean Economists Association and can under no circumstances be regarded as reflecting the position of the European Union or the Programme management structures.
