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AFD Loans $356M to IFAD to Assist Rural Farmers

AFD loans $356M to IFAD to assist rural farmers in developing sustainable agriculture, accessing microfinance, fighting hunger, responding to climate change, enduring COVID-19 pandemic.

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Kenya’s Mobile Money Use Hits Record High in October Amid COVID-19 Pandemic

Kenyans transacted 528.9 billion shillings (about $4.9 billion) on their mobile phones in October as usage rose considerably amid the COVID-19 pandemic, new Central Bank of Kenya data showed.

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Philippines Global Financial Inclusion Ranking Slips Further

The global financial inclusion ranking of the Philippines slipped further this year despite improvements spurred by the government’s need to promote digital channels as part of its response to the COVID-19 pandemic.

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Remittances Provide Temporary Cushion to Nepal’s Troubled Economy

At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate.

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SANAD Provides First Tier II Capital in Egypt to Banque du Caire

Subordinated debt totaling $30 million to strengthen capital base and boost bank’s ability to provide local businesses with much-needed financing.

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Cambodia's Finance Sector Lends Hand to Nation's Needy

Since the beginning of 2020, Cambodia's BFIs have raised more than $500,000 in donations for health, sanitary and food supplies to support vulnerable communities.

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CGAP, Symbiotics Partner to Monitor COVID-19’s Impact on Microfinance

The partnership will track and analyze the performance of hundreds of microfinance institutions across the world over the next six months, in an ongoing effort to shed light on how the COVID-19 pandemic is impacting the microfinance sector.

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O-CITY Enters Kenya to Drive Contactless Payments Across Matatu Bus Service

Up to 10,000 buses to become cashless with O-CITY's M-Pesa-based ticketing solution.

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The COVID Pandemic’s Sledgehammer Blow to Remittances

Remittances are an important source of income for low/middle-income countries. But nations that rely more on these inflows have been hit harder.

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Remittances to Fall for First Time in 11 Years

However, even though this is a 7.6 percent drop from last year’s $17 billion, Vietnam will remain the ninth biggest remittance beneficiary in the world.