New IFC Survey Reveals A Third of Workers in Bangladesh’s Micro, Small and Medium Enterprises Now Jobless in Wake of COVID-19 Impacts
A staggering 37 percent of workers in Bangladesh’s micro, small and medium enterprises lost their jobs, either temporarily or permanently, in the space of one month, with 94 percent of MSMEs experiencing a sharp drop sales due to the impact of COVID-19.
Digitizing Payments Can Add $6.2 Billion to Bangladesh’s Annual GDP
The Government of Bangladesh, in partnership with the UN-based Better Than Cash Alliance, just launched its 2022-2025 National Digital Payments Roadmap – a call to action for key public and private sector actors to speed up responsible payment digitization to leave no one behind.
Coronavirus Could Wipe Out $3 Billion From Bangladesh Economy
According to the Asian Development Bank, the financial fallout from the ongoing coronavirus epidemic could potentially shrink Bangladesh's gross domestic product by as much as 1.1 percent or $3.02 billion.
Bangladesh: Remittance Hits Record High in July
Many expats have been sending money as part of their preparation to return home due to joblessness abroad.
United Nations Federal Credit Union Partners With Thunes for Mobile Money Transfers
The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.
IFC Finances the City Bank to Help Bangladeshi Companies and Small and Medium Enterprises Impacted by COVID-19
The financing package is part of IFC’s $8 billion global COVID-19 fast-track financing facility, which aims to help companies stay in business.
Digital Financial Services Must Expand to Address Pandemic Fallout
Bangladesh's financial sector will have to adopt new technologies and services in the post-COVID-19 period for the lenders to move their operations online and address the recent challenges faced by the industry.
IFC Provides $30M to BRAC Bank to Support Businesses During COVID-19
The investment will help to keep small and medium-sized enterprises open and preserve jobs, which is critical to sustaining the Bangladeshi economy.
WB Approves $200M to Help Poor Urban Youths, Migrant Returnees
The Recovery and Advancement of Informal Sector Employment project will help about 175,000 poor urban youths and low-income microentrepreneurs enhance employability and productivity.