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.

Mastercard this week expanded its worldwide commitment to financial inclusion, pledging to bring a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025.

“We are nervous; incredibly nervous — the impact of this is likely to be far worse than the financial crisis of 2008.”

The disruption to the world’s economies caused by the Covid-19 pandemic is expected to wipe out 6.7% of working hours globally in the second quarter of this year – the equivalent of 195 million jobs worldwide, according to the UN’s labour body.

The amount of money migrant workers send to their home countries usually holds up well in a crisis. Not this time.