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.
Pakistan: Can Microfinance Survive COVID?
Even before coronavirus came, Pakistan’s microfinance sector was sniffling.
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.
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.
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.
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.
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.
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.
COVID-19: FNFI Backs Nine Microfinance Institutions
The National Fund for Inclusive Finance is putting in place mechanisms to support its partnering microfinance institutions amidst the COVID-19 crisis.
IFC Finances Garanti BBVA to Support Turkish MSMEs Amid the COVID-19 Pandemic
IFC is providing a $50 million senior loan to Garanti BBVA to help micro, small, and medium enterprises weather the effects of the COVID-19 pandemic.