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.”

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.

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.

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.

The European Investment Bank (EIB) extended a $50 million line of credit to Bank of Palestine to support the resilience of the Palestinian private sector through on-lending to local SMEs, as part of Team Europe’s overall response to the Covid-19 crisis.

The financing is part of a program that supports policy measures to enable the rollout of the country’s social protection program, including the creation of digital IDs and cashless payments as part of cash transfer programs.

Micro and small enterprises (MSEs) in Kazakhstan stand to benefit from a new investment which aims to help businesses recover from the economic shock of the COVID-19 pandemic, resume operations, and adapt to the post-crisis environment.

The $2 billion IFC commitment will support the continent's economic recovery from the pandemic by sustaining and creating jobs and business activity.

The investment will help to keep small and medium-sized enterprises open and preserve jobs, which is critical to sustaining the Bangladeshi economy.

The financing package consists of $130 million from IFC's own-account and a $270 million syndicated loan from a group of 10 banks.