IFC Providing $5 Million to Timor-Leste's Kaebauk Investimentu no Finansas, S.A. to Improve Access to Finance for Farmers, With a Focus on Women
The investment is expected to lead to over 10,000 more people gaining access to finance by 2024, of which over 75 percent will be women.
Tens of thousands of garment workers, who are facing slashed work hours and wages amid the global pandemic and economic downturn, will struggle to repay mounting microfinance debt, a new civil society report says.
PT JULO Teknologi Finansial (JULO), an Indonesian based Fintech P2P Lending, initiated several programs to help individuals affected by the 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.
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.
Fintech Adoption: Mobile, Digital, and Contactless Payments Increasingly Being Used in Indonesia Due to COVID-19
Certain segments of the fintech industry, including digital, mobile, and contactless payments, have seen increased adoption in recent months, since the pandemic began.
The agreement is part of a regional effort by IFC, working with banks, financial institutions, credit bureaus and central banks in Solomon Islands, Papua New Guinea and Vanuatu to guide them through the process of moving to comprehensive credit reporting.