The intensity of the COVID-19 shock has clearly varied among MSMEs. On a more positive note, the COVID-19 crisis has accelerated the digitalization of many MSMEs and fostered their participation in digital ecosystems and marketplaces. In response to the emergency, governments have quickly introduced a wide range of policy and regulatory measures to financially support local MSMEs. A few countries have effectively leveraged digital technology and public data sharing to better serve MSMEs through various financing schemes. Private market participants, including traditional lenders and FinTech/BigTech firms, have played a leading role in assisting MSMEs throughout the crisis.