READ THE PAPER.pdf

Art.-N2-How-the-microfinance-sector-is-facing-the-effets-of-the-health-crisis.pdf
Preview of READ THE PAPER
🔗 Source: mfc.org.pl
📊 Size: 117 KB
👤 Author: BORGOGNO Maxime
⬇️ Downloads: 66

Summary

The microfinance sector is adapting to the COVID-19 crisis by taking measures to contain the spread of the virus, such as adopting barrier actions, launching awareness campaigns, and implementing teleworking or staff rotation systems. Many microfinance institutions (MFIs) have also adapted to decisions taken by local authorities, such as partially or completely ceasing operations and closing local agencies. Digital solutions are being used to continue microcredit disbursement activities and remote recovery. MFIs are also preparing for the looming economic slowdown by setting up continuity plans and implementing new credit regulations to cushion the economic shock. Regulators are urging financial institutions to grant deferred payments to crisis-affected customers and restructure loans. The microfinance sector is showing a high degree of responsibility and maturity in facing the global crisis, with regular financial statements, forecast analysis, and exchanges between lenders, NGOs, and MFIs. The Grameen Crédit Agricole Foundation is sharing its analysis and best practices with partners, responsible investment players, and peers to overcome the effects of the crisis.

Description

The microfinance sector is adapting to the COVID-19 crisis by taking measures to contain the spread of the virus, such as adopting barrier actions, launching...

Technical Information

  • File Format: PDF
  • File Size: 117 KB
  • Pages: 2
  • Language: EN
  • Author: BORGOGNO Maxime
  • Total Downloads: 66
  • Last Updated: 1 week ago

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