All News and Announcements
Asia-Pacific May See $31.4-54.3 BN Remittance Losses Due to COVID-19: ADB
Asia Pacific, which accounts for a third of the global migrant workforce, is likely to face remittance losses of $31.4-54.3 billion due to the coronavirus pandemic, the Asian Development Bank (ADB) said in a report.
Overseas Filipino Worker Remittances May Drop by $5 Billion This Year
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks declined by 6.4 percent to $11.55 billion from January to May compared to $12.35 billion in the same period last year.
IFC Loans to Vietnam Prosperity Bank and Oriental Bank to Boost Finance for Local Businesses Amid COVID-19, Support Economic Recovery
The aim of the additional financing is to help local businesses with disrupted cash flows sustain operations and maintain jobs.
SME Bank and ARDB Disburse $63M in Loans
Ministry of Economy and Finance undersecretary of state Ros Seilava told a news conference that the economic crisis instigated by COVID-19 had been the primary trigger for the emergency SME lending endeavours.
Singapore Plans Year-End Fintech Event Amid Virus Restrictions
Singapore is planning an online and physical fintech festival amid the spread of the coronavirus across the globe.
Drop in Remittances to Hurt Consumption in Philippines
Moody’s said the fall in remittances could further widen the current account deficit of the Philippines and other countries.
Western Union Expands Presence in the Philippines With Tie Up
This tie up highlights Western Union’s efforts to strengthen presence in the Philippines, which has been recognized as the fourth-largest remittance recipient country in 2019 according to the World Bank.
United Nations Federal Credit Union Partners With Thunes for Mobile Money Transfers
The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.
Global Data Says COVID-19 Accelerates Shift to Digital Payments in the Asia-Pacific
As governments issue movement restrictions to help curb COVID-19, businesses accelerated their digital transformation which includes, among others, digital payments.
Cambodia: Micro-Loan Borrowers Face COVID-19 Crisis
Debt relief measures by micro-loan providers in Cambodia are failing to alleviate the serious financial burdens on indebted families affected by the COVID-19 pandemic.