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World Bank Accused of Incentivizing Investments in Fossil Fuels Through $5B Policy Loans Portfolio
A new report by advocacy group the Bank Information Center has accused the World Bank of funding the creation of policies that promote the development of coal, gas and oil projects in four countries, but the World Bank says the report “grossly misrepresent” its activities.
- Categories
- Impact Assessment, Investing
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How small borrowers in six Indian villages went digital
In a first-of-its-kind initiative in micro-finance post-demonetisation, 60,000 small borrowers from six small villages in Odisha are leading the way towards cashless transactions. This was made possible thanks to a pilot done by Bharat Financial Inclusion (formerly SKS Microfinance) for cashless and paperless disbursals.
- Categories
- Technology
- Region
- South Asia
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India’s MFI sector yet to get over demonetisation impact
The microfinance industry is still facing challenges two-and-a-half months into demonetisation, with repayment collection taking a hit in some rural pockets where cash supply is yet to become normal and in parts of Maharashtra and poll-bound Uttar Pradesh, raising the spectre of a deterioration in asset quality.
- Categories
- Technology
- Region
- South Asia
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MoneyGram Agrees to Merge with Ant Financial
MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer services, and Ant Financial Services Group, one of the world’s leading digital financial services providers and parent company of Alipay, a global mobile payment platform, today announced that they have entered into a definitive agreement under which MoneyGram will merge with Ant Financial, with stockholders of MoneyGram being offered $13.25 per share in cash. The transaction will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations with Ant Financial’s users, who enjoy a broad suite of technology-based financial services, including payments, credit and insurance products. The combination will provide consumers in over 200 countries and territories with convenient and accessible financial services, which furthers Ant Financial’s mission to promote equal access to financial services globally.
- Categories
- Technology
- Tags
- digital payments, fintech
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What makes Senegal’s digital currency different?
Towards the end of last year, a regional bank for francophone west Africa, Banque Régionale de Marchés (BRM), issued a digital currency in Senegal (which it initially dubbed the eCFA but has since decided to rename). It acts similar to other digital currencies and consumers can interact with it across existing payment platforms, such as electronic and mobile wallets.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Government departments lap up digital payment solutions in India
Online payment service providers and mobile wallet companies have recorded a huge surge in queries and sign-ups from various governmental departments across sectors such as education, health and power, in the last two months. The tie-ups come at a time when these departments have been instructed to carry a majority of their transactions through digital modes to eliminate corruption and reduce the dependence on cash.
- Categories
- Technology
- Region
- South Asia
- Tags
- fintech
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Aavishkaar-Intellecap Group Raises $25M from Triodos Investment Management and Shell Foundation
Founded in 2002, the Aavishkaar-Intellecap Group has Assets under Management of over USD 400 million with over 2500 team members spread across three continents serving a common vision to improve the lives of several billion people.
- Categories
- Impact Assessment, Investing
- Tags
- ESG
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FINCA Kosovo Achieves Smart Certification for Client Protection
Today, FINCA Kosovo, the country's largest microfinance organization, announced it received the Client Protection Certification by Smart Campaign. This official recognition required an in-depth, external review of all of FINCA Kosovo's processes and policies. The positive results of this review reflect FINCA's deep commitment to high ethical standards in the treatment of its clients. FINCA Kosovo joins a group of over 60 certified financial institutions, including FINCA Kyrgyzstan, FINCA Azerbaijan and FINCA Bank Georgia.
- Categories
- Uncategorized
- Region
- Europe & Eurasia
- Tags
- microfinance
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