Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.
New IFC Survey Reveals A Third of Workers in Bangladesh’s Micro, Small and Medium Enterprises Now Jobless in Wake of COVID-19 Impacts
A staggering 37 percent of workers in Bangladesh’s micro, small and medium enterprises lost their jobs, either temporarily or permanently, in the space of one month, with 94 percent of MSMEs experiencing a sharp drop sales due to the impact of COVID-19.
UNCDF and Its Partners Launch E-learning Modules to Help Fill the Digital and Financial Literacy Gap for Small and Micro Businesses in Bangladesh
Over 50 percent of small and micro-businesses in a recent UNCDF and Visa study had poor understanding of how digital and financial services could help their businesses, and financial literacy gaps were even more pronounced for women entrepreneurs.
The International Finance Corporation and Bangladesh Financial Intelligence Unit will work together to develop an electronic know your customer (eKYC) infrastructure to fast-track financial inclusion.
The Bank of Thailand has been asked to review the ceiling of interest rates and supervise credit cards, personal loans and car loans, as the Thai government has vowed to tackle high household debt, incurred by credit card and personal loans.
Ongoing shifts toward e-commerce, digital payments (including contactless), and instant payments have all been significantly boosted during the pandemic with real-time payments surging by 104 percent.
Ngern Tid Lor PCL is IFC’s First Investment in a Non-Banking Financial Institution in Thailand to Support MSMEs
The investment aims to support a resilient recovery by promoting business growth, creating jobs, and fostering financial inclusion.
The Recovery and Advancement of Informal Sector Employment project will help about 175,000 poor urban youths and low-income microentrepreneurs enhance employability and productivity.
The World Bank has warned that the weaker-than-expected growth elsewhere in the world due to the pandemic may undermine the recovery in Bangladesh and other countries in South Asia.
The International Fund for Agricultural Development will provide Bangladesh with a loan of $ 18.07 million to rebuild microenterprises as well as to support smallholders affected adversely by the COVID-19 pandemic.