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Garment Workers Pressed by Piling Microfinance Debt, Report Says

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.

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JULO Support for Customers During COVID-19 Pandemic

PT JULO Teknologi Finansial (JULO), an Indonesian based Fintech P2P Lending, initiated several programs to help individuals affected by the pandemic. 

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Pakistan: Can Microfinance Survive COVID?

Even before coronavirus came, Pakistan’s microfinance sector was sniffling.

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HNB Records Growth in Digital Remittances During COVID Lockdown

Sri Lanka’s HNB has reported a smooth transition to contactless remittance transactions parallel to rising demand for digital remittances and cardless withdrawals during the coronavirus lockdown.

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India: Digital Payments Bounce Back to Pre-COVID Levels

Digital payment transactions through the Unified Payment Interface (UPI), cards and mobile wallets have made a near V-shaped recovery this month.

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Supporting Nepal’s Migrants, as Overseas Work Dries Up

Since the economic slowdown resulting from the COVID-19 pandemic, work for many of them has dried up. The UN is supporting efforts to manage the large-scale influx of returnee workers.

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COVID-19 Creates Opportunities for Mass Adoption of Fintech in Bulgaria

The COVID-19 outbreak and the economic downturn it triggered gave the fintech sector in Bulgaria a chance to see various opportunities for mass adoption of financial technology in the near future.

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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.