COVID-19 and Financial Inclusion

CFI Responds

The challenges facing financial inclusion due to the COVID-19 pandemic are unprecedented. How do we as a community respond to ensure vulnerable households, businesses and FSPs are resilient and recover?

On this page, you’ll find knowledge resources by CFI and its peers in the financial inclusion community, including our Test of a Lifetime blog series; an announcement about how our research on MSMEs has been transformed; the latest letter from the Managing Director on how CFI’s strategy has shifted; and a policy research paper on liquidity, part of a research initiative aimed at understanding the impact of COVID-19 policy on low-income customers of financial services.

If you have suggestions for content, please reach out to us.

 

 

 

Letter from the Managing Director

Mayada El-Zoghbi outlines changes to CFI's agenda to focus on COVID-19's impact on clients and financial inclusion stakeholder responses.

Equity Investors

Financial Inclusion Equity Council (FIEC) Responds to COVID-19

Microfinance institutions (MFIs) and the clients they serve are currently facing severe economic challenges as a result of COVID-19. Many clients face uncertain incomes in the best of times and perhaps now more than ever, will need to rely on the vital role MFIs play in providing reliable access to savings, emergency loans and grants, health information and loans to restart businesses as lockdowns are lifted.

To ensure they can continue meeting their clients’ needs, MFIs will need the full support of the investor community and FIEC members stand ready to continue their support of this critical industry. Read On

 

 

 

Covid-Finclusion.org

A collaboration of CFI, e-MFP and SPTF, this forum and blog dives into what MFIs need to be resilient during these difficult times.

Stats from the COVID-19 Blog Series

60%

of wages from informal work in Africa go to food

From "Food Security and COVID-19: How Financial Inclusion Can Support Livelihoods"

140 million

microfinance clients worldwide, many of whom will be adversely affected by COVID-19

From "Using Data to Elevate the Customer Perspective as FSPs Respond to COVID-19"

5%-25%

predicted decline in remittance flows between Europe and Africa due to COVID-19's effects

From "How Should FSPs Respond to the COVID-19 Pandemic?"

35 to 220 million

additional Latin Americans estimated to go into poverty

From "The Pandemic Will Not Deter Us"

20%

increase in mobile money use in Jordan since the pandemic began

From "Mobile Money in Times of Crisis: An Unlikely Hero"

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COVID-19 has upended life around the world, but it is likely going to have much longer and deeper ripple effects on the lives of the BOP and on the institutions that serve them.
Mayada El-Zoghbi, Managing Director, CFI

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