With the issuance of this Green Bond, Zuoli will finance, amongst others, green buildings and energy efficiency projects in the Zhejiang province.

Li told Reuters in an interview that in “traditional finance” investing in SMEs was rarely worthwhile for global institutions as the due diligence was difficult, risks were high and funding amounts small.

The annual survey on mobile payments showed 98 percent of respondents indicated mobile was their most commonly used payment method, up 5 percentage points from 2019.

A new agreement between IFC and the Mongolian Bankers Association will help improve access to funding for 200,000 micro, small and medium enterprises cumulatively over the next five years by developing a vibrant market for value chain finance in Mongolia.

Hong Kong-based HKT Financial Services, the Fintech division of the HKT Group, has launched another Fintech project, HKT Flexi, a digital or online financing platform that allows users to make payments via the HKT Flexi App.

The initiative aims to develop green financing, as well as improving access to financial products and services for the country’s micro, small and medium enterprises.

As contactless payments become the norm amid the worldwide pandemic response, China rolled out its digital currency this month in four cities, setting it up to become the world’s first cashless society.