MIX, an NGO based in the US city of Washington, recently surveyed 25 financial technology (fintech) providers and investors regarding their responses to the COVID-19 pandemic. Over the past two months, investment in fintech providers has fallen, as has their revenue, due to lower remittance and lending volumes. The fees that fintechs charge are also down, sometimes at fintechs’ choosing, but sometimes by government decree. Clients have more incentive to use mobile money due to travel restrictions, branch and agent closures, and the potential transmission of germs via cash. However, they have less money to transact. One study found that four in five business owners in Kenya did not
Search Results for: covid
MICROCAPITAL BRIEF: How MFIs Grassland Finance, CD Finance of China Responded to the Pandemic
Because of the lockdown imposed in China due to the spread of COVID-19, “overdue loan payments increased greatly” at Grassland Finance and CD Finance, two microfinance institutions (MFIs) in the country. The timing was unfortunate for farmers because
MICROCAPITAL BRIEF: EBRD Commits $1.1b as “First Step” in Response to Coronavirus; Targets Include SMEs, Women-owned businesses
The UK-based multilateral European Bank for Reconstruction and Development (EBRD) recently allocated EUR 1 billion (USD 1.1 billion) to provide “immediate support” as a “first step” to addressing disruptions caused by the COVID-19 pandemic. The targets include boosting trade finance, particularly as it can assist small and medium-sized enterprises (SMEs), and providing crisis-management advice to SMEs, especially those led by women. For borrowers experiencing difficulty with repayment, EBRD will
MICROFINANCE EVENT: Market Systems Symposium; June 15 – August 31, 2020; Online – NEW DATES & FORMAT
Please note: Due to the COVID-19 pandemic, this symposium is being converted into a series of online events.
The purpose of this event is to “provide the inspiration, capacity building, and connections you need to strengthen and transform your market systems development practice.” The symposium organizer, EcoVentures International, is a nonprofit supporting “the growth of sustainable local economies and empowered communities using systems-thinking approaches.”
The agenda includes session such as: