CGAP Launches Global Microfinance Survey to Inform COVID-19 Response

CGAP last week launched a biweekly survey of microfinance institutions (MFIs) around the world. The survey is intended to gather data that MFI management teams, funders and policy makers all need to help these institutions and their low-income clients weather the COVID-19 (coronavirus) crisis.

The formal microfinance sector provides at least 140 million low-income people worldwide with credit and savings services. As of 2018, the sector had a combined portfolio of $124 billion in outstanding loans and $80 billion in savings. Roughly 80 percent of the sector’s customers are women, and 65 percent live in rural areas.