<p>A series of policy briefs on efforts by national governments around the world to mitigate the economic impacts of COVID-19 on vulnerable citizens.</p>


As countries around the world grapple with the economic impact of the COVID-19 pandemic, governments have turned to supplemental cash transfers as a key policy instrument to offset the loss of income of their citizens.

This policy brief explores what national governments are doing to enable rapid payments to those without existing accounts. The swift measures governments took to speed up payments to citizens during the pandemic include:
<ul>
 	<li>Quick identification of eligible recipients</li>
 	<li>Simplification of customer due diligence for rapid account opening</li>
 	<li>Greater use of alternative channels such as mobile apps, post offices, and non-bank financial institutions (NBFIs) such as microfinance providers.</li>
</ul>
Each section of this brief includes country-specific examples and key takeaways. Efforts by 19 countries to facilitate cash transfers, both digital and non-digital, are discussed.

This publication is the second in a <a href="https://www.centerforfinancialinclusion.org/series/policy-responses-to-covid-19-their-impacts-on-low-income-customers">series</a> of policy briefs on COVID-19 economic policy responses and their impact on low-income customers.

Rapid Response for Social Payments During COVID-19

This paper examines how COVID-era economic policy measures – specifically those addressing liquidity – are directly affecting low-income segments and the financial institutions that serve them. In particular, the paper reviews the liquidity needs of financial institutions serving low-income customers in light of COVID-19, provides examples of policy measures being taken around the world to address concerns over liquidity, and addresses how these measures are affecting the financial institutions that serve low-income customers in emerging markets, especially MFIs and other related non-bank financial institutions (NBFIs). This is the first in a series of policy papers on COVID-19 economic policy responses and their impact on low-income customers.

Preserving Liquidity: Policymaker Responses to COVID-19 and the Impact on Low-Income Customers

A series of policy briefs on efforts by national governments around the world to mitigate the economic impacts of COVID-19 on vulnerable citizens.

Loretta Michaels

Hema Bansal

Mayada El-Zoghbi

Bangladesh

Brazil

Ecuador

Egypt, Arab Rep.

Ghana

India

Jordan

Latin America and The Caribbean

Madagascar

Middle East and North Africa

Morocco

Myanmar

Pakistan

Philippines

South Africa

South Asia

Sub-Saharan Africa

Thailand

Timor-Leste

Togo

Zimbabwe

Nigeria

Peru

Uganda

Zambia

Challenges and Crises

Enabling Environment

Mobile Banking

Payments

Policy, Regulation and Government Initiatives

Brief

Policy Responses to COVID-19 &amp; Their Impacts on Low-Income Customers

India is a global leader in financial inclusion. For over a decade, Accion has worked with and learned from India’s innovators, investors, and policymakers to expand economic opportunity for its people and businesses.

South Africa is a global hub for fintech innovation. Accion supports and advises South African innovators using technology to help entrepreneurs expand their businesses and families protect their homes around the world.

Though Nigeria’s government has set ambitious goals for financial inclusion, the majority of its people lack a formal bank account. Accion has worked in the country since 2007 to expand access to financial services.

Policy Responses to COVID-19 & Their Impacts on Low-Income Customers

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Rapid Response for Social Payments During COVID-19

Preserving Liquidity: Policymaker Responses to COVID-19 and the Impact on Low-Income Customers