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.

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. 

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

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.

IFC has partnered with six global insurance companies to mobilize $2 billion in credit capacity under the Managed Co-Lending Portfolio Program (MCPP).

The National Fund for Inclusive Finance is putting in place mechanisms to support its partnering microfinance institutions amidst the COVID-19 crisis. 

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.

The Reserve Bank of India (RBI) on Monday directed payment systems operators to undertake targeted multi-lingual campaigns by way of SMSs and advertisements to educate their users on safe and secure use of digital payments amid incidence of frauds continuing to bedevil people.

Guidelines intended to provide guidance on how to overcome the current crisis, generally make financial services business more resilient and to sustain/grow in the new reality. 

New book tells the important story of how microfinance developed, how it has met the needs of hundreds of millions of people, and addresses key questions about how it can continue to meet those needs in the future.