Grameen America Launches Economic Relief and Recovery Fund for Low-Income, Women Small Business Owners in the Wake of COVID-19
Grameen America announced the launch of Grameen America Economic Relief and Recovery Fund, with the goal of raising $72 million to provide essential capital and support to the low-income women entrepreneurs.
The temporary suspension of microfinance activities aligns with government efforts to prevent the spread of COVID-19 through mass gatherings and close contact.
Globally, consumers accessed finance apps over a trillion times in 2019. The trend is likely to accelerate, making digital-only the new norm for financial services.
With many Cambodians out of work, COVID-19 is also throwing another problem into sharp relief: that of precariously high microfinance debt.
Leading Microfinance and Impact Fund Managers Sign an MOUon Debt Refinancing Coordination Principles to Support the Sector During the COVID-19 Pandemic
BlueOrchard, Developing World Markets, Incofin, Microvest, Oikocredit, responsAbility, Triodos IM, Triple Jump and Symbiotics have signed a Memorandum of Understanding for coordination in response to COVID-19.
Small Industries Development Bank of India has extended the repayment period of loans to non-banking finance companies and microfinance institutions to one year from the 90-day period earlier.
Saudi G20 Presidency and the Bank for International Settlements Innovation Hub Invite Global Innovators to Find Solutions to the Most Pressing Financial Regulatory & Supervisory Challenges
TechSprint initiative will support the regulatory and supervisory responses against the COVID-19 pandemic.
Microfinance institutions have sent a distress call to markets regulator seeking to instruct credit rating agencies to delay the ratings on microlenders whose operations have been disrupted by the impact of COVID-19.
Financiers across the spectrum are struggling to trace low-ticket borrowers, about a fifth of their customers, through virtual means.
Hong Kong Alt-Lender Oriente Raises $50m as It Looks to Step up Efforts in a Highly Competitive Sector
Oriente will use the money to boost its growth in existing markets and further new developments in places like Vietnam.