SINGAPORE, April 8 (Xinhuanet) -- Singapore launched a new programto help small and medium-sized enterprises (SMEs) take out loans with little or even no collateral, Channel News Asia reported on Friday.

    The SME Access Loan scheme will pool debts from different SMEs and then sell them in the form of bonds in the capital market so as to spread out the overall risk and get loans for those who are at higher risk level.

    Initiated by the Standards, Productivity and Innovation Board (Spring Singapore) and International Enterprise Singapore (IE Singapore), the program aims to securitize some 300 million Singapore dollars (about 180 million US dollars) within six months.

    DBS Bank will help manage this loan and securitization program for about 100,000 SMEs in the city state, who have had difficulties in borrowing from banks.

    The scheme is expected to deepen the growing corporate bond market here, which is worth 100 billion Singapore dollars (about 60 billion US dollars), according to the Monetary Authority of Singapore. Enditem