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Asirvad Microfinance Raises $15 Million From WorldBusiness Capital Inc
Asirvad Microfinance, a subsidiary of Manappuram Finance, on Monday said it had raised $15 million (around Rs 110 crore) in a seven-year external commercial borrowing loan from the US-based WorldBusiness Capital Inc (WBC).
- Categories
- Finance
- Region
- Asia Pacific
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Desperate Times, Desperate Measures: A Microfinance Network Responds to the Devastating Reality of COVID-19 in India
The COVID-19 pandemic is taking a disastrous toll in India, with over 27 million confirmed cases and 311,000 reported deaths. In the face of this emergency, Opportunity International is leveraging its network of microfinance partners to provide crucial assistance to hard-hit communities. CEO Atul Tandon explains how the organization is working with microfinance providers to convert their offices into emergency response and triage centers, while educating clients about pandemic-related health risks and providing them with food and supplies.
- Categories
- Coronavirus, Finance, Health Care, Transportation
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Ugandan Fintech, Ensibuuko Raises $1 Million Funding to Drive International Expansion
Ugandan fintech startup, Ensibuuko has announced a funding of 1 million dollars from an impact investor, FCA Investments.
- Categories
- Investing
- Region
- Sub-Saharan Africa
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Analysis: Nigeria Is Making Progress With Financial Inclusion: Here’s How
In developing economies, many people are excluded in various ways from financial services. Including them is necessary for three main reasons.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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COVID-19 Is Showing Small Businesses the Benefits of Digital Financial Services: Here Are Three Ways Providers Can Use Data to Better Serve Them
Digital access to financial services has been growing in recent years, but COVID-19 has made it all the more necessary. BancoSol, a commercial bank serving 1.5 million Bolivian microentrepreneurs, saw its digital transactions rising over the last year and wanted to extend this trend beyond the pandemic — but it wasn't sure how. Kathleen Yaworsky at Accion and Aaron Lewin at Mastercard discuss how their organizations are supporting BancoSol through data-driven insights, and share three steps microfinance institutions can take to better serve the needs of their micro and small business customers.
- Categories
- Coronavirus, Finance
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Cambodia’s Lenders Suspend Loan Principle, Interest Collection Amid Pandemic
Two associations representing Cambodia’s microfinance institutions (MFIs) and banks issued a joint statement Wednesday agreeing to grant borrowers a reprieve from repayment of loans and interest amid the country’s latest and deadliest outbreak of the coronavirus.
- Categories
- Coronavirus, Finance, Health Care
- Region
- South Asia
- Tags
- microfinance
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Press Release: Grameen Credit Agricole Foundation Grants a $3 Million Euros Loan to Pahal in Favour of Financial Inclusion in India
The microfinance sector has become a key instrument to fight financial exclusion in the country by providing financial and non-financial services to people excluded from the banking system.
- Categories
- Finance
- Region
- Asia Pacific
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‘The First Wealth is Health’: Exploring the European Microfinance Award 2021’s Focus on Inclusive Finance and Health Care
For the global poor, health is often the dividing line between the path to prosperity or a slide into destitution. Daniel Rozas and Sam Mendelson of e-MFP explain how precarious incomes and the absence of high-quality universal health care can push low-income households into a deeper cycle of poverty. As a response to the issue, the European Microfinance Award is seeking to highlight initiatives that facilitate access to quality and affordable health care with this year's €100,000 award, which focuses on the topic of "Inclusive Finance and Health Care."
- Categories
- Finance, Health Care