COVID-19 FinDev Weekly Update | 09 - 15 Jul 2020
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Global
- A special edition e-MFP survey of the microfinance sector highlights key concerns of clients, providers, funders, and others. Among other things, providers worry that the move away from the high-touch model of delivering microfinance services may make it difficult to preserve their social mission and protect clients. Respondents also saw the current crisis as an opportunity to "re-think the direction the sector has been going, and how it can adapt to work better for more people".
- Financial services offered by platforms can play an important role in meeting gig workers’ needs. According to a CGAP blog, gig workers need stronger safety nets; many platforms are offering financial assistance, temporary sick leave, and training for workers to switch to high-demand activities.
Asia
- The State Bank of Pakistan continues to encourage contactless banking and has extended until December the temporary suspension of biometric verification and the removal of daily transaction limits on certain types of digital payments.
- In India, “the value of transactions on the Unified Payments Interface, a platform created by India’s largest banks in 2016, reached an all-time high last month as people feared to handle banknotes amid the pandemic.”
Africa
- Most women-led SMEs in the region are at risk of permanent closure due to the pandemic, according to a survey by ImpactHER covering 30 African countries.
- CICO (cash-in and cash-out) agents in Kenya and in Uganda report that their income from commissions has declined by more than 40 percent since the onset of the pandemic.
- 37 percent of Kenyans were unable to pay their rent in May, according to a government survey.
For more on Africa, check out the latest Portail FinDev Weekly Update in French.
Latin America and the Caribbean
The articles and knowledge resources referenced in this section are in Spanish.
- A new bill in Chile aims to regulate exchange rates in the credit card payment system to encourage use and expand access for customers and lower transaction cost for businesses.
- Peru seeks to speed up transition to a cashless economy and is now promoting the use of contactless payment on buses.
For more on LAC, check out the latest Portal FinDev Weekly Update in Spanish.
Arab World
- Mastercard has deployed Mastercard Cross-Border Services to enable faster remittances without back-end charges in the MENA region, in response to COVID-19.
- In Jordan, FINCA Microfinance is implementing a new business model shifting to centralization and digitalization, as a way to ease operations amid the pandemic.
For more on the Arab world and resources in Arabic, check out the latest FinDev Weekly Update in Arabic.
COVID-19 Resources
Global Community Response to COVID-19
A list of organizations offering resources and insights on COVID-19 & microfinance
FinDev Coronavirus Data Tracker
Data relevant for financial inclusion - find out who is tracking what
Recent Publications
For a complete list of publications and to learn how you can share your research with us, visit FinDev's Publications page.
The COVID-19 Financial Inclusion Compass
European Microfinance Platform (e-MFP) | Jul 2020
This publication shares results from a survey assessing various challenges facing different stakeholder groups in financial inclusion.
Myanmar Microfinance Money Management: Coping With the COVID Crisis
M-CRIL | Jul 2020
This Advisory Note estimates the magnitude of the liquidity shortfall for the largest microfinance institutions resulting from the complete six-week shutdown in April-May 2020.
Out of Time: COVID-19 Aftershocks
VisionFund International | Jul 2020
This publications offers findings from a rapid assessment in 24 countries across Latin America, Sub-Saharan Africa, and Asia confirming alarming predictions of increased child hunger, violence, and poverty due to the economic impact of COVID-19.
Coping With COVID-19 – A Demand-Side View from Uganda
MicroSave Consulting (MSC) | Jun 2020
This study assesses the awareness of low- and middle-income segments in Uganda about COVID-19 and their use of digital financial services during this time.
Impact of the COVID-19 Pandemic on CICO Agents- Kenya Report
MicroSave Consulting (MSC) | Jun 2020
This report highlights the impact of COVID-19 on cash-in and cash-out agents in Kenya and offers recommendations to policymakers and digital financial service providers.
Impact of the COVID-19 Pandemic on CICO Agents- Uganda Report
MicroSave Consulting (MSC) | Jun 2020
This report explores the impact of COVID-19 on cash-in and cash-out agents in Uganda highlighting the strategies agents adopted to stay afloat during the pandemic.
View All Publications Related to COVID-19 >
Blogs & Opinion
If you have a blog idea and would like to write for the FinDev Blog, please see our review our guidelines. We do not cross-post blogs that have been published elsewhere, but if you wish to share an existing blog post in our next FinDev Weekly Update, you can send it to us using our contact form.
Socio-Economic Impact
1 Billion People Live in Informal Settlements Worldwide: Here are Seven Key Challenges They’re Facing During COVID-19
14 Jul 2020 | Margaret Nakunza | NextBillion
COVID-19 Is a Serious Blow to the Remittances That Millions of Families Depend Upon
13 Jul 2020 | Werner E. Liepach & Guntur Sugiyarto | ADB
How Ghanaians Are Coping With COVID-19: Five Lessons From the RECOVR Survey
10 Jul 2020 | Charles Amoatey, Elliott Collins & Madeleen Husselman | IPA
Imagining Post-COVID Recovery
10 Jul 2020 | Julie Zollmann, Anne Gachoka & Catherine Wanjala | FSD Kenya
Supporting the Most Vulnerable Amid the Risk of Returning to Poverty: What the RECOVR Survey Tells Us about Pandemic Response in Colombia
08 Jul 2020 | Sebastian Chaskel & Kyle Holloway | IPA
How Are Small Businesses in Colombia Coping With the Pandemic?
08 Jul 2020 | Mauricio Romero | Fundación Capital
Microfinance Sector Responses
Fighting Extreme Poverty During COVID-19: Two Proven Ways to Build Resilience in Times of Catastrophic Disruption
13 Jul 2020 | Muhammad Musa | NextBillion
COVID-19 Highlights Need for Stronger Safety Nets for Gig Workers
13 Jul 2020 | Maria Fernandez Vidal & Faith Chepng'etich Biegon | CGAP
PART III: Thoughts on Solidarity-Based Lending in Times of the COVID-19 Pandemic
12 Jul 2020 | Robert Christen | Boulder Institute of Microfinance
The Power of Local Women: An Innovative Social Capital Model Addresses Rural Financial Inclusion in India During COVID-19
10 Jul 2020 | Prabhat Labh & Sourajit Aiyer | NextBillion
Fintech
Fintech Start-ups in Côte D’ivoire Amid Covid-19: Expectations From the Government and the Regulator
09 Jul 2020 | Ariane Kouassi & Achille Tefong | MicroSave Consulting (MSC)
SaaS Startup Kwara Is Helping SACCOs Deliver During COVID-19
09 Jul 2020 | Abby Butkus & Shivani Kotecha | BFA Global
Will Smart Contracts Usher in a New Wave of Financial Inclusion?
08 Jul 2020 | Ivor Istuk, Oya Ardic & Jeff Allen | World Bank
Funding Landscape
DFIs, COVID-19 and Financial Inclusion: A Conversation With Richard Greenberg of DFC
09 Jul 2020 | Richard Greenberg | CFI-Accion
News
For the latest news on the impact of coronavirus on financial inclusion, visit our News listing pages.
IFC Provides $100M to Daycoval to Support SMEs Facing the Impacts of the COVID-19 Pandemic
| International Finance Corporation (IFC) | Brazil
State Bank of Pakistan Extends COVID-19 Mitigation Measures Till December
| Profit | Pakistan
Mastercard Enables Faster Remittances During Pandemic
| ZAWYA | Middle East and North Africa
Cambodia: Micro-Loan Borrowers Face COVID-19 Crisis
| Human Rights Watch | Cambodia
View All News Related to COVID-19 >
Webinars
For the latest events - hosted by organizations worldwide - exploring the impact of coronavirus on financial inclusion, visit our Events listing page.
COVID-19 Gendered Impacts on Livelihoods in Africa Webinar Series
22 Jul 2020 | FinEquity
Rural Livelihoods in a Changing Food System
23 Jul 2020 | CGAP, ISF Advisors
Global Fintech Fest: "Fintech: With and Beyond COVID"
22-23 Jul 2020 | Internet & Mobile Association of India (IAMAI)
Online Workshop Series: Debt Restructuring in Microfinance During COVID-19
23 Jul & 28 Jul 2020 | CGAP
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