The Executive Director of Association of Microfinance Institutions said that a total amount ranging between RWF 4 billion ($4M) and RWF 5 billion ($5M) has been channeled through microfinance institutions to help small businesses recover from COVID-19 effects.

The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.

A recent report found 86 percent of consumers in Colombia — approximately 1.6 million individuals — who had never had a bank account signed up for one between April and November 2020.

The cryptocurrency will lose its reputation as a speculative asset and prove its use as a legitimate payment system, central bank President Douglas Rodriguez said in an interview on Monday.

The initiative provides a stage for the world’s most promising fintech and regtech innovators that are enhancing access to and the usage and quality of formal financial services for low-income populations

CGAP is looking to partner with financial services providers and others involved in providing financial services that are using or would like to use data-driven approaches to expand or improve the way they serve poor people.

By focusing on the SMEs segment, including women-owned businesses, IFC aims to help close the existing financing gap for these two segments.

Research finds that the Symbiotics portfolio is recovering from the crisis stemming from the pandemic and its partners from the Caucasus region are following a similar trend, but at a slower pace. 

The conference is organized by the Glasgow Caledonian University in collaboration with the European Microfinance Platform, and this year, it will focus on exploring and reimagining microfinance as an interdependent tool that contributes to the future envisioned in the 2030 Agenda for Sustainable Development.

The new initiative will support financial service providers to implement client protection.