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News

HNB Records Growth in Digital Remittances During COVID Lockdown

Sri Lanka’s HNB has reported a smooth transition to contactless remittance transactions parallel to rising demand for digital remittances and cardless withdrawals during the coronavirus lockdown.

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India: Digital Payments Bounce Back to Pre-COVID Levels

Digital payment transactions through the Unified Payment Interface (UPI), cards and mobile wallets have made a near V-shaped recovery this month.

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Pakistan: Can Microfinance Survive COVID?

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

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Supporting Nepal’s Migrants, as Overseas Work Dries Up

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.

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Symbiotics Expands Its Flagship Industry Survey – From Microfinance Funds to Private Asset Impact Funds

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

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SANAD and Export Development Bank of Egypt Strengthen Partnership to Support SMEs, Agricultural Exporters, and Microfinance Institutions in Egypt

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. 

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IFC Supports Nigeria’s FCMB to Finance SMEs Facing COVID-19 Related Challenges

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.

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Philippines: ADB Grants MFI-NGO $30-M Credit Facility for Micro-Entrepreneurs

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. 

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South Asia Faces a Remittances Crisis Amid COVID-19 Pandemic

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

News

Visa and TerraPay Partner to Drive Domestic Remittances

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.