Going forward, it is critical for India to build an accessible, inclusive and resilient payment system that can withstand sustained shocks in the aftermath of the COVID-19 crisis.

Grameen America announced the launch of Grameen America Economic Relief and Recovery Fund, with the goal of raising $72 million to provide essential capital and support to the low-income women entrepreneurs.

The temporary suspension of microfinance activities aligns with government efforts to prevent the spread of COVID-19 through mass gatherings and close contact.

Globally, consumers accessed finance apps over a trillion times in 2019. The trend is likely to accelerate, making digital-only the new norm for financial services.

With many Cambodians out of work, COVID-19 is also throwing another problem into sharp relief: that of precariously high microfinance debt.

BlueOrchard, Developing World Markets, Incofin, Microvest, Oikocredit, responsAbility, Triodos IM, Triple Jump and Symbiotics have signed a Memorandum of Understanding for coordination in response to COVID-19.

Small Industries Development Bank of India  has extended the repayment period of loans to non-banking finance companies and microfinance institutions to one year from the 90-day period earlier.

Oriente will use the money to boost its growth in existing markets and further new developments in places like Vietnam. 

Microfinance institutions have sent a distress call to markets regulator seeking to instruct credit rating agencies to delay the ratings on microlenders whose operations have been disrupted by the impact of COVID-19.

JCB Co Ltd (JCB) is leveraging Asia’s leading fintech player, Soft Space Sdn Bhd’s (Soft Space) technological expertise to develop the Tap on Mobile program that capitalizes on Android smartphones.