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The world's top financial regulators met in Norway over the weekend and issued a set of new rules designed to make it easier for banks to lend money to small and medium-sized companies, the Wall Street Journal reports.
The rules, which will take effect in July, are designed to make it easier for companies with less than $50 million in annual revenue to get financing from the European Bank for Reconstruction and Development and the World Bank.
The Journal notes that the new rules will make it easier for companies with less than $50 million in annual revenue to get financing from the Bank of England, the European Central Bank, or the Swiss National Bank.
The new rules will also make it easier for companies with more than $50 million in annual revenue to get financing from the European Investment Bank, the Bank of England, or the Swiss National Bank.
The chief of the European Bank for Reconstruction and Development tells the Journal that the new rules will make it easier for small and medium-sized companies to get financing from the Bank of England, the European Central Bank, or the Swiss National Bank.
"It will be easier for them to get financing from us," he says.
"It will also be easier for us to get financing from them."
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Social Entrepreneurs to Get Free WiFi Access
iPass, a telecommunications provider, will give free internet access to 100 non-government organizations (NGOs) for a year as they work in dangerous countries to help its poor and underserved populations.
