Still more significantly, the  BIS Review 108/2008  1  Eurosystem will deliver TARGET2-Securities (T2S) no later than 2013, to make settlement of securities against central bank money at least as secure, efficient and cheap as domestic securities settlement are in any European market today. My understanding is that these projects need to work in harmony with other integration projects, especially harmonisation.
Yet, lack of access to finance is a major obstacle to their growth. Although the situation can differ among countries and individual businesses, the financing gap for SMEs in the developing country has a few well-accepted causes. These include Information asymmetries, higher risks, Sizeable transaction costs and a lack of adequate collateral. These factors can be exacerbated by institutional factors within a country.