This week IFAD launched  the Platform for Remittances, Investment and Migrants’ Entrepreneurship (PRIME) Central Asia Initiative in Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan.

The Line of Finance aims to promote Islamic finance, improve financial inclusion, and support private sector development in Uzbekistan.

The proceeds of this Social Bond are to be allocated towards both micro loans up to $10,000 to microenterprises and SME loans up to $1 million to small and medium enterprises.

FINCA Impact Finance, a US-based network of financial institutions, recently carried out several campaigns catering to low-income people through its affiliates in Africa and Asia.

IFC's $5 million investment will provide critical working capital to help them continue their operations and stay afloat during the ongoing public health crisis.