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Banking on Human Capital: What Financial Institutions Need to Do – Now – to Enable a COVID-19 Recovery
Every crisis carries its own unique signature, and COVID-19 is likely to be defined by a series of flare-ups and lockdowns, says Elisabeth Rhyne at the Financial Access Initiative. Within that scenario, the financial inclusion sector needs to determine the most effective ways to reduce the pandemic's impact on vulnerable people and businesses – and it needs to start immediately.
- Categories
- Coronavirus, Finance
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It Takes a Bank to Rebuild a City: JPMorgan, Detroit and the Value of Private Sector Solutions to Urban Decay
Many large U.S. cities have fallen victim to extreme urban decay – and nowhere does this ring truer than in Detroit. But according to Mike Brown at LendEDU, the city is experiencing a turnaround, due in part to a five-year, $150 million investment by JPMorgan Chase. He explores why private sector giants should use their financial might to build upon this success.
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Viewpoint: The Impact of the COVID-19 Pandemic on Financial Inclusion
COVID-19 is the force majeure that has swept across continents at lightning speed, leaving in its devastating wake a financial contagion like no other, with the global economy said to have contracted by 12% in Q1 alone and the downturn described as the worst since the Great Depression of the 1930s.
- Categories
- Coronavirus, Finance
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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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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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World Bank Group Plans $12M Loan to Mongolia Microfinance Company
With the deal, Transcapital will be able to provide more access to finance for small enterprises and underserved individuals, especially women and people living outside the capital of Ulaanbaatar, IFC said.
- Categories
- Finance
- Region
- Asia Pacific
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