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.

Financiers across the spectrum are struggling to trace low-ticket borrowers, about a fifth of their customers, through virtual means.