Global Microfinance Recovery Continues, Especially in Africa, but Pandemic’s Long-term Impact Remains Uncertain
Microfinance institutions (MFIs) are starting to recover, particularly in Africa, and some have managed the crisis better than expected so far. However, the recovery remains fragile.
The latest Symbiotics indicators show that, as of October 2020, microfinance institutions (MFIs) remain resilient and have managed to stop the negative trends reported in the first half of 2020.
Symbiotics has arranged with Samunnati Financial Intermediation & Services Private Limited (“Samunnati”) its first Green Bond whereby the proceeds of $4.6 million in local currency equivalent are fully allocated towards climate smart agriculture.
REGMIFA, the Regional MSME Investment Fund for Sub-Saharan Africa, has attracted a further $10 million from Dutch-based entrepreneurial development bank FMO.
This report shows how small and medium enterprises (SMEs) in emerging and frontier markets benefit from access to finance, as well as how they were affected by the COVID-19 pandemic in 2020.
Final Report on SME Finance Loans for Growth Impact Showcases the Results of a Four-Year Collaboration Between Symbiotics, UBS and SECO
The fourth and final SME Finance Loans for Growth (LFG) impact report shows how SMEs in emerging and frontier markets benefit from access to finance, as well as how they were affected by the COVID-19 pandemic in 2020.
Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country.
The proceeds of the Sustainability Bond will be used to finance both Social and Green eligible loans. The Social loans will be granted towards microenterprises and SMEs, stimulating the generation of employment in the country.
This snapshot is part of a series published by CGAP and Symbiotics, offering regular updates on how COVID-19 is affecting the microfinance sector’s portfolio quality, financial health, and ability to serve excluded clients.
IFU and Symbiotics Provide $22.5M in Financing to Develop Financial Inclusion in Africa Through a Multi-Currency Bond
The main impact objective of this investment is to foster development in Africa through employment and income creation.