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Viewpoint: COVID-19 Is a Call to Action for Regulators to Boost Financial Inclusion
Mobile money transfer and global remittance firms such as Chipper Cash and WorldRemit are particularly vital for migrants who rely on these services to send money home for essentials such as school fees, medical costs or groceries. As the services are increasingly available through mobile devices, they are a particularly efficient instrument in the push toward financial inclusion and the achievement of several UN Sustainable Development Goals.
- Categories
- Coronavirus, Finance
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The Informal Economy is Complicating Government Responses to COVID-19: Will the Crisis Push Millions Toward Formality?
As COVID-19 devastates the global economy, many governments have designed support measures to help businesses and workers survive. But as Jill Lagos Shemin and James Dailey point out, this support may be ineffective in lower-income countries, where most small businesses and their employees work in the informal economy, lacking bank accounts and even valid ID. They explore some solutions governments can pursue – and trade-offs they will have to accept.
- Categories
- Coronavirus, Finance
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IFAD Makes Landmark Investment in Impact Fund Helping Rural SMEs
In a continuation of its efforts to help small-scale farmers and micro-, small and medium size rural enterprises in developing countries create jobs and increase incomes, the International Fund for Agricultural Development (IFAD) announced today an investment of US$9 million (€8.4 million) into the Agri-Business Capital (ABC) Fund, a blended capital impact fund.
- Categories
- Agriculture, Finance
- Region
- Sub-Saharan Africa
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Press Release: FINCA Impact Finance Secures $15 million Revolving Loan Facility from Calvert Impact Capital
Additional liquidity will bolster the financial network’s ability to deliver financial services to low-income entrepreneurs.
- Categories
- Finance
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Heifer International Joins Libra Association to ‘Support Financial Inclusion’
Global nonprofit Heifer International is joining the Libra Association, it announced Monday, becoming the 23rd official member of the organization.
- Categories
- Finance, Technology
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Migrant Wages Sent Home Set to Drop $142 Billion in 2020
The World Bank on Wednesday said that drop of almost 20% in money migrant workers send home - about four times greater to low- and middle-income countries than during the 2009 financial crisis - would largely be due to a fall in their wages and employment overseas.
- Categories
- Coronavirus, Finance
- Tags
- remittances
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Facebook in Talks Over Mobile Money in Indonesia
Three e-wallet operators interested in working with Facebook Pay to tap into massive Southeast Asian market.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital finance, fintech
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Zimbabwe Is on Lockdown, but Money-Changers Are Still Busy
A chronic shortage of Zimbabwean dollar notes and US dollars keeps money-changing services in high demand.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa