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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. 

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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.

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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.

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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. 

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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.

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RBI Asks Payment Systems Operators to Educate Public on Safe Digital Transactions

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.

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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.

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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. 

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IFC Mobilizes $2B in Credit Capacity From Insurers to Expand Lending to Financial Institutions

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

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DBP Eyes More Tie-Ups With Financial Firms to Push for Financial Inclusion

STATE-run Development Bank of the Philippines will forge ahead with its financial inclusion initiatives this year by tapping financial technology companies, non-bank financial institutions, as well as rural banks.