How Coronavirus affects Microfinance sector

This post is also available in: Tiếng Việt (Vietnamese)

With the uncontrolled increased number of coronavirus infections, many companies and organizations have announced their closure and suspension. Sheltering in place keeps continuing to be implemented worldwide.

In this context, Economic activities are extremely limited in all countries and stock exchanges have lost almost a third of their value in less than a month. Quite logically, the worldwide microfinance sector is also not immune.

For this reason, the Grameen Credit Agricole Foundation’s team launched a survey among its
partners on March 11th in order to gather their first impressions and analysis, the impact on their
clients’ activity, on their institution and their potential needs.

56 Micro Finance Institutions (MFIs) responded to the survey, out of 75 reached partners (75% participation rate) with the last answers received on March 19.
All of them are expressing in their responses a real concern about the expected effects of this global health crisis.

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