The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.
KfW Development Bank Invests EUR 20 Million in the Regional MSME Investment Fund for Sub-Saharan Africa
This investment will help to finance small and medium enterprises with the objective to create jobs in nine countries in Sub-Saharan Africa, that have joined the G20 Compact with Africa program initiated by the German Government.
The project will entail market studies with rural households in Latin America, Southeast Asia, and Africa, to investigate the nexus between energy access, access to WASH, and food security.
The bank’s chief executive Gideon Muriuki said the funds would be used to support businesses to better cope with the disruptions brought about by the COVID-19 pandemic.
Bill and Melinda Gates Are Now Backing New Digital Payments System in Pakistan to Support Financial Inclusion for Women
The new online payments system, Raast, has been launched to support women who might have been financially marginalized or unable to access modern financial services for a long time.
While economies around the world are reeling from the pandemic’s impact, some segments are disproportionately affected. This is particularly the case for women-owned micro, small and medium enterprises.
IFC’s $25 Million Investment in Nations Trust Bank to Help Sri Lankan Businesses Continue Operations, Preserve Jobs Amid COVID-19
The financing package will be used by Nations Trust Bank to help small and medium sized enterprises and corporates to stay afloat during the ongoing public health crisis.
While COVID-19 may have wreaked havoc across financial services, according to a recent report the pandemic has driven the urgency to prioritize and actively deploy fintech initiatives by regulators.