It has facilitated closer economic ties between countries and allowed small and medium-sized enterprises to participate in cross-border value chains more easily. From 1990 to 2002, trade between the soon-to-be 19 countries of the euro area increased by less than 5%, whereas since the introduction of the single currency it has grown by almost 200%2.
Multiplicity of credit delivery channels Thanks to the combined efforts of all stakeholders, commercial banks and regional rural banks in this country have started playing an important role in financial inclusion and financial literacy. Their outreach has also increased through banking correspondents (BCs).