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Annual Impact Investor Survey 2018
The Global Impact Investing Network (GIIN) released its annual impact investor survey, highlighting market activity and trends and covering topics such as: capital allocations by sector and geography, indicators of market development and industry challenges. Key findings in the report include: The market is diverse The impact investing industry is...
IFC and Top Tech Firms Drive Economic Opportunities for Women
Under the new initiative, ‘Digital2Equal’ led by IFC, a sister organization of the World Bank and member of the World Bank Group, seventeen leading tech companies have joined together to support this initiative focused on increasing opportunities for women. The companies participating include: Airbnb, Inc., Google LLC, LinkedIn, Didi Chuxing...
Last year , SME Finance Forum member Diamond Bank, among others, partnered with Women’s World Banking to solve the issue regarding lack of inclusion of low-income women into the financial system. This year, Women’s World Banking hosted a digital financial services workshop, showcasing best practices in creating products with women in mind and...
Financial Products Created with Women In Mind
The largest untapped market in the world is women, according to Women’s World Banking. Financial institutions are failing to ensure their offerings work for women, however three elements with a gender-inclusive design can help counter this issue: Go beyond “gender-neutral” Segmenting by gender during the product design phase Developing the...
Member News: OPIC Partners with IDB to Launch Gender-Focused Fund
SME Finance Forum member, Overseas Private Investment Corporation (OPIC) has collaborated with the and Inter-American Development Bank (IDB) Group to launch the first gender-focused fund for Latin America and the Caribbean. The investment, ‘Fund Mujer’ is for up to $200 million and will be made up of 30 percent debt and 70 percent equity,...
The State of Financial Inclusion in India
Medici examines the widening financial gap in India and their lack of push for institutional credit for consumers. With consumer debt to GDP at only 17 percent, India falls behind major economies of Asia Pacific. According to the article, “In the absence of institutional credit at fair interest rates for a majority of the population, people at the...
Member News: DBS Promotes Customer-Use of PayFast, Instant Transaction System
SME Finance Forum member DBS, is encouraging customers to use a newly launched mobile banking platform, PayFast, which is supported by Faster Payments System (FPS). The system allows customers to take on transactions instantly and around the clock. Customers are able to utilize phone numbers and email addresses to move funds without transaction...
Partnerships with Fintechs Boost Competitiveness in Lending
Fintechs understand the importance of access to finance for SMEs and so do companies. With about 95 percent of SMEs contributing as much as 30 percent of the country’s gross domestic product and are employing about 60 percent of the country’s workforce, companies like First Circle are rising to the occasion. The company, which provides business...
Tool: New Digital Ecosystem Helps Foster Financial Inclusion in India
With the growth of digital divide rising, a new ecosystem developing in India features three “interrelated and mutually-reinforcing components” that will help support financial inclusion. These elements, according to the article include: National ID, bank accounts, and mobile phones provide the foundational layers and channels for people to enter...
Member News: EIF and BGK Sign Agreement to Support Cultural and Creative Focused SMEs
SME Finance Forum member, European Investment Fund (EIF) and Bank Gospodarstwa Krajowego (BGK) will support Polish SMEs with 525 million zloty (around 125 million euros) of loans over the next three years, according to the article. The new agreement will benefit almost 3,000 SMEs in the creative and cultural sectors. According to the article,...