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News

ADB Lends $15M to KMF to Boost Financial Inclusion for MSMEs, Post-COVID Growth in Kazakhstan

The loan is intended to boost its services to micro-, small, and medium-sized enterprises – especially in rural areas – to “improve financial inclusion and contribute to Kazakhstan’s recovery from the COVID-19 pandemic.”

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ADB and KMF Sign $15M Loan to Expand Access to Credit for MSMEs in Kazakhstan

This loan is ADB's first intervention in Kazakhstan's financial sector in several years. It will support KMF's efforts to improve financial inclusion and contribute to Kazakhstan's recovery from the COVID-19 pandemic.

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Presenting Conclusions From a Study Analyzing the Effects of the COVID-19 Crisis on Microfinance Institutions

Digital technology at the heart of the strategic orientations of microfinance institutions.

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IFC, LeapFrog Investments and DEG Invest in Vietnam’s HDBank to Help Accelerate Economic Recovery, Expand Lending to Smaller Businesses, and Boost Resiliency of the Banking Sector

Investment will increase access to credit for retail and small and medium enterprises (SMEs) with specific focus on women entrepreneurs.

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IFC, Omni Support Truck Drivers, Immigrants, Refugees, and Micro-entrepreneurs in Brazil

The investment will increase Omni's capacity to assist their existing as well as new clients, thus supporting the private sector's recovery in the wake of the pandemic.

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IFC Supports FinComBank to Attract Investments, Driving Growth in Moldova Amid COVID-19

The collaboration will help address the liquidity constraints that micro, small, and medium enterprises are facing in the country, supporting economic stability.

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IFC, National Bank of Iraq Partner to Boost Access to Finance for SMEs, Create Jobs

IFC announced an investment for the National Bank of Iraq to support the growth of smaller businesses in Iraq and help them create jobs and overcome challenges, including from COVID-19-related disruptions.

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Nigeria: Richway Microfinance Bank Wins Best SME Support Bank of the Year 2021 Award

Richway beat a host of other banks at the International Standards Excellence Award 2021, to take home the Award for performing exceptionally in a tumultuous year characterized by the negative impacts of COVID-19 pandemic.

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COVID-19 Recovery Funds Benefit to 3,000 Businesses in Rwanda

The Executive Director of Association of Microfinance Institutions said that a total amount ranging between RWF 4 billion ($4M) and RWF 5 billion ($5M) has been channeled through microfinance institutions to help small businesses recover from COVID-19 effects.

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Kenya: Central Bank Releases Over KSH55B (~ $500M) to Rescue Struggling Local Lenders

The disclosures, contained in CBK's latest annual report, shed light on the behind-the-scenes operations to rescue struggling lenders from sinking.