Pakistan’s micro, small and medium sized enterprises and individual consumers are set to benefit from the creation of an electronic registry that allows for the country’s financial institutions to use moveable assets as collateral for loans.
‘Everyone Deserves Digital’ is being launched "because digital services are no longer a convenience - they’re a health necessity," executive director of the Worldwide Foundation said in a statement.
The loan will boost the bank’s ability to increase its lending for low-income housing, women-owned small and medium enterprises, and sustainable agribusiness projects in the country.
In a statement, JazzCash owner Veon, said in addition to an opportunity to widen access to digital payments, the partnership would improve financial inclusion during the COVID-19 pandemic.
The joint collaboration aims to create markets, mobilize private sector investment, and support economic recovery in developing countries in the wake of the COVID-19 global crisis.
Queen Letizia joined the Foundation on a videoconference to discuss how COVID-19 is impacting Latin American micro-enterprises and to learn about the measures put in place in the five countries BBVAMF operates.
As the growing pandemic continues to plunder on, the Singapore Fintech Association (SFA) and Razer have teamed up to provide financial assistance to local Singaporean fintech companies.