The loan will support the development of financial technology and inclusion in Indonesia and will will provide budget support for Indonesia’s reform agenda in three key policy areas.

Paytm, India’s largest digital payments and financial services company has entered into a strategic partnership with Indian Oil Corporation Limited to enable digital transactions across its fueling stations as well as LPG cylinder delivery ecosystem.

The bulk of the IFC financing will go to client financial institutions to enable them to continue to offer trade financing, working-capital support and medium-term financing to private companies struggling with disruptions in supply chains.

Funds donated by the Citi Foundation will provide protective equipment for frontline health workers, equip diagnostic laboratories, improve surveillance and data collection, establish and maintain intensive care units and take other critical steps to scale up the urgent public health response to the pandemic around the world.

FINCA Pakistan is one of the first financial institutions to implement a Work From Home (WFH) plan to ensure the safety of its employees and their well-being while re-assessing the Business Continuity Plan (BCP) to ensure its patrons have access to financial services during the pandemic.

The government’s decision to stop issuing permits to migrant workers will have significant consequences for the country, where economic activities are driven by remittances, experts say.