Policy, Regulatory, and Supervisory COVID-19 Responses for Microfinance

Notes examining the impact of the COVID-19 crisis on microfinance

These notes are supplement to the CGAP paper, "Microfinance and COVID-19: A Framework for Regulatory Response" (June 2020).

The notes focus on policy and regulatory responses adopted by financial authorities in four countries: India, Pakistan, Peru, and Uganda. Responses include measures enabling microfinance providers (MFPs) to operate safely, providing temporary relief to clients, increasing MFPs’ access to liquidity, and simplifying supervisory processes where appropriate. 

The notes are based on interviews and on review of publicly available materials, and,  in some cases with written input from key stakeholders in the microfinance sector.  Coverage is from the onset of the crisis through mid-June 2020, although the situation continues to evolve. The notes should be of interest to regulators, policymakers, donor agencies, and others seeking practical examples of how governments are addressing the economic and financial effects of the pandemic.


This work was funded in whole or in part by CGAP. Unlike CGAP's official publications, it has not been peer reviewed or edited by CGAP, and any conclusions or viewpoints expressed are those of the authors, and they may or may not reflect the views of CGAP staff.

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