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Viewpoint: Can the World Bank Redeem Itself?
Development outcomes depend on poor countries’ external economic environment, which is shaped by the policies of the major economies. And when it comes to promoting sound policies, the World Bank has fallen far short in recent decades, exemplified by three major intellectual sins of omission.
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Press release: Prodigy Finance Launches Refinance Product for International Working Graduates Looking to Reduce Financial Costs
Prodigy Finance, the pioneer in cross-border finance, announces the launch of a loan refinance product for international working graduates looking to reduce their student debt. The product will allow these alumni, who previously had limited options available to them, to save at least US$20,000 over the life of the loan, by accessing lower rates and choice of terms.
- Source
- Press release
- Tags
- debt, education, finance, financial health
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Reality Check: Is China burdening Africa with debt?
The Chinese government is adamant that its economic relationships with African countries are mutually beneficial and rejects suggestions that it is using debt to expand global influence.
- Region
- Sub-Saharan Africa
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You Can’t Change What You Can’t See: Taking America’s Financial Health Pulse
Last week, a new FDIC survey revealed that the number of unbanked U.S. households has reached the lowest point since the survey started in 2009. Meanwhile, advances in fintech and a strong overall economy suggest that the financial prospects of most Americans should be looking up. But as Center for Financial Services Innovation president Jennifer Tescher points out, the story is not that simple. In reality, she says, a massive number of Americans are struggling financially. She explores this and other troubling findings in the U.S. Financial Health Pulse, a landmark new study that aims to show the true picture of Americans’ financial lives.
- Categories
- Finance
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FinTech Firm Prodigy Finance Gets R14 Billion In Debt Financing
The FinTech firm started by three INSEAD MBA graduates who experienced the difficulties of financing an international degree first-hand is planning to use the capital to scale and expand the business into the US
- Categories
- Finance
- Tags
- debt, financial services, fintech
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Avenue Capital to Launch ‘Impact’ Investment Fund, Source Says
Avenue Capital Group LLC, a New York-based investment firm with $9.4 billion in assets under management, plans to launch a fund this year that will focus on so-called impact credit investments, according to a person familiar with the matter.
- Categories
- Investing
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How mobile loan platforms have lured Kenyans into debt trap
Just as a sluggish economy in which exports have underperformed has forced Kenya to arrange for another credit to settle a loan that was maturing, tough economic times such as poor business performance, lay-offs, or delayed salary have seen digital borrowers struggle to repay their loans.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Online Lending Startup Aye Finance Bags $3.8 Mn From Hinduja Leyland Finance And IntelleGrow
Gurugram-headquartered online lending startup Aye Finance has raised $3.8 Mn (INR 25 Cr) from three investors, including Hinduja Leyland Finance and IntelleGrow, which provides debt finance to growing businesses in the country. The investment, which took place through a securitisation deal, was facilitated by Vivriti Capital.
- Region
- South Asia
- Tags
- debt, finance, startups, venture capital
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