Even before coronavirus came, Pakistan’s microfinance sector was sniffling.

Since the economic slowdown resulting from the COVID-19 pandemic, work for many of them has dried up. The UN is supporting efforts to manage the large-scale influx of returnee workers.

Symbiotics is broadening its fund research expertise with a new survey on Private Asset Impact Funds.

The aim of this partnership is to channel much-needed financing to agricultural and small and medium-sized exporters as well as microfinance institutions in Egypt in response to the economic difficulties brought about by COVID-19. 

IFC announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises (SMEs) so they can sustain business activities disrupted by the COVID-19 pandemic.

The first tranche of the credit facility amounting to $10 million will extend loans to over 25,000 women-entrepreneurs owning small businesses, which suffer from the economic impact of the (COVID-19) pandemic. 

Coronavirus lockdowns cost millions of migrant workers their jobs, halting billions in remittances they sent home.

TerraPay and Visa have today announced a strategic partnership that aims to develop and deliver payment solutions to drive financial inclusion and cashless transactions for domestic payments in Kenya and global remittances to Kenya.

IFC has partnered with six global insurance companies to mobilize $2 billion in credit capacity under the Managed Co-Lending Portfolio Program (MCPP).

The National Fund for Inclusive Finance is putting in place mechanisms to support its partnering microfinance institutions amidst the COVID-19 crisis.