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.
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.
Nepali missions abroad are verifying applicants’ status before recommending their names to the government to provide them airfare from Migrant Workers Welfare Fund.
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.
EFSE Loans Additional EUR 2 Million to BT Leasing to Expand Access to Financing for Moldovan Entrepreneurs
The investment particularly aims to bolster the ability of micro and small enterprises to continue operations in an environment made difficult by the COVID-19 crisis.
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.
This is an opportune time to take a close look at what tools exist in agricultural risk management that can be deployed both to address the current crisis and to build resilience for the future.
The Islamic Corporation for the Development of the Private Sector (ICD) is Committed to Strengthened the Islamic Finance During the COVID 19
Global Islamic Banking and Finance learning series is launched by AlHuda CIBE.