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Why Migrant Workers in Gulf Countries Are Sending Record Amount of Money Home

Overall, remittances to the Asia-Pacific region will drop 12 percent in the second half of 2020 compared with the same period last year, Fitch Ratings says.

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Microfinance Firms in Myanmar Struggle to Stay Afloat in Second Wave

Government travel restrictions and orders to defer repayments and lower interest rates on loans due to COVID-19 have reduced the ability of Myanmar’s microfinance companies to help rural people who desperately need capital.

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Fintech Firms Offer To Help Disburse Government COVID-19 Funds

The Indonesian Fintech Lenders Association has offered to help accelerate the disbursement of national economic recovery program funds as the government struggles to amass the data needed to deliver the money to the right places. 

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COVID-19 Hits Remittances To Vietnam

Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.

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Cambodians Are Bingeing on Microfinance Loans

The downturn brought on by COVID-19 will test the industry.

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COVID-19 Driving Increase in Digital Payments in Singapore

Singapore residents are increasingly adopting digital payments due to the COVID-19 pandemic, according to a GlobalData report.

News

Asia-Pacific May See $31.4-54.3 BN Remittance Losses Due to COVID-19: ADB

Asia Pacific, which accounts for a third of the global migrant workforce, is likely to face remittance losses of $31.4-54.3 billion due to the coronavirus pandemic, the Asian Development Bank (ADB) said in a report.

News

Overseas Filipino Worker Remittances May Drop by $5 Billion This Year

Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks declined by 6.4 percent to $11.55 billion from January to May compared to $12.35 billion in the same period last year.

News

IFC Loans to Vietnam Prosperity Bank and Oriental Bank to Boost Finance for Local Businesses Amid COVID-19, Support Economic Recovery

The aim of the additional financing is to help local businesses with disrupted cash flows sustain operations and maintain jobs.

News

SME Bank and ARDB Disburse $63M in Loans

Ministry of Economy and Finance undersecretary of state Ros Seilava told a news conference that the economic crisis instigated by COVID-19 had been the primary trigger for the emergency SME lending endeavours.