“We should take comfort that while we may have more still to endure, better days will return. We will be with our friends again. We will be with our families again. We will meet again.” –
Her Majesty Queen Elizabeth II
World Bank Group launches COVID-19 Emergency Health Support Strengthening for Developing Countries
The World Bank’s Board of Executive Directors has approved a first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 (coronavirus) response. The first group of projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 countries using the fast-track process.
OECD updates G20 summit on outlook for global economy
According the new OECD projections presented during the G20 Summit by Secretary-General Angel Gurria, increasingly stringent containment measures needed to slow the spread of the Coronavirus (Covid-19) will necessarily lead to significant short-term declines in GDP for many major economies.
JBICsignsloan for mixed-use development project in Myanmar
In support of overseas business development of Japanese company under the Growth Investment Facility, Governor Maeda Tadashi of the Japan Bank for International Cooperation (JBIC) recently signed a loan agreement amounting up to USD 276 million (JBIC portion) with Kajima Myanmar Holding Pte. Ltd. (KMH) in Singapore.
IDC sets aside US$ 250M emergency funding to respond to the impact of COVID-19
Upon declaration of COVID-19 pandemic by the World Health Organization, the Islamic Corporation for the Development of the Private Sector (ICD) has taken steps to ensure the safety and well-being of ICD member countries, partners and clients.
Source: Islamic Corporation for the Development of the Private Secto
A ‘Shot in the Arm’ for SMEs: Agrobank announces a suite of measures
As the COVID-19 outbreak widens with Malaysia entering the second wave of the spread, Agrobank announced a suite of measures along with initiatives undertaken by Bank Negara Malaysia (Central Bank) aiming to provide relief to small and medium enterprises (SMEs) affected by the pandemic.
BMVI and KfW to launch funding programmes for broadband expansion in Germany
Starting April 1, 2020, the Federal Ministry of Transport and Digital Infrastructure (BMVI) and KfW will support the long-term and nationwide expansion of fibre-optic networks in Germany with two programmes for private and municipal companies, the “Digital Infrastructure Investment Loan” and the “KfW Digital Infrastructure Syndicated Loan”.
Regional Development Bank (RDB) of Sri Lanka, led by RDB Chairperson Mr. Mahinda Saliya, recently held a discussion with a group of officials including the Director/ CEO of the Sri Lanka Inventors Commission on the invitation of the RDB Bank to provide financial assistance to inventors. It is agreed to execute a bilateral agreement to create a program to finance inventors.
SME Bank distributes RM300K ‘Zakat’ (tithe) and RM50K corporate donation in fight against COVID-19
Malaysia’s SME Bank, an agency under the Ministry of Entrepreneur Development and Cooperatives, has played its corporate responsibility role by distributing ‘zakat’ (tithe) amounting RM300,000 and made a corporate donation amounting RM50,000 to those who have sacrificed their time and lives on the frontline to ensure Malaysians are safe and well protected with their families during the pandemic.
BDC announces additional measures to provide relief for Canadian entrepreneurs
In addition to its existing products and services, BDC, Canada’s bank for entrepreneurs, has announced additional measures to provide relief to business owners impacted by the spread of coronavirus (COVID-19) as part of the BCAP.
NABARD infuses new capital to rural banking system
India’s National Bank for Agriculture and Rural Development (NABARD) has infused Rs 1.46 lakh crore in the rural banking system during the current fiscal year. It has been extending financial support to the banks operating in rural areas to help them deploy their resources effectively for meeting the credit needs of rural people, including farmers.
Source: National Bank for Agriculture and Rural Development
ODB honours winners of proficiency and excellence award
Oman Development Bank (ODB) recently honoured the winners of a competition on excellence and proficiency among its employees. ODB organized the awards program with the strong belief that human resource is the cornerstone of a successful organization.
Mrs. Wasanthi Manchanayake assumes duties as New Chairperson of the HDFC Bank of Sri Lanka
HDFC Bank has a new Chairperson, Mrs. R.M.R.W.Manchanayake. Prior to her appointment, Ms. Manchanayake, an attorney-at-law, was an Assessor at the Department of Inland Revenue since 1984 and was promoted to Commissioner General of Inland Revenue in 2014. Thereafter, she worked as a Senior Tax Policy Consultant at the Ministry of Finance from 2015 to 2019.
Source: Housing Development Finance Corporation of Sri Lanka
Mr. Sukatmo Padmosukarso is appointed as the Acting Official of President Commissioner of PT SMI
In the General Meeting of shareholders of PT SMI, the Minister of Finance of the Republic of Indonesia appointed Mr. Sukatmo Padmosukarso as the Acting President Commissioner effective 17 March 2020. As the acting official, Mr. Padmosukarso shall “carry out the duties in accordance with Company’s Articles of Incorporation until the appointment of a definitive President Commissioner.”
Despite the current pandemic and the government’s stay and work-at-home orders, the ADFIAP Secretariat saw this as an opportunity to develop more online membership engagement tools and e-learning programs for members.
COVID-19 has exposed the fragility of our economies
The Corona virus pandemic is not just a medical crisis, but a social and economic one too, says ILO Director-General Guy Ryder. The human dimensions of the COVID-19 pandemic reach far beyond the critical health response.
Recessions can be make-or-break moments for most retailers, consumer products companies and service companies like those in travel and hospitality. With the spread of COVID-19, a spooked stock market, oil market chaos and election-year political uncertainty, there’s one question every executive needs to start asking: Is my business ready?
Waste Management an Essential Public Service in the Fight to Beat COVID-19
With the coronavirus disease (COVID-19) pandemic continuing to spread and its impacts upon human health and the economy intensifying day-by-day, governments are urged to treat waste management, including of medical, household and other hazardous waste, as an urgent and essential public service in order to minimise possible secondary impacts upon health and the environment.
Making sure rural communities won’t be left behind in the response to COVID-19
Whenever crisis strikes, it is invariably the poor and the vulnerable who suffer most. In many cases, they are affected directly by crisis; in other cases, their lives are made harder by the economic consequences.
COVID-19: Looming crisis in developing countries threatens to devastate economies and ramp up inequality
The growing COVID-19 crisis threatens to disproportionately hit developing countries, not only as a health crisis in the short term but as a devastating social and economic crisis over the months and years to come.
1. All ADFIAP face-to-face meetings, seminars and conferences scheduled in March till June have been postponed to later dates in its desire for you to be safe at home and be ready to provide the leadership your community needs. We will inform you of the new dates and venues in due course.
2. Cognizant of the difficulty that their clients are currently faced with, the following DFIs have provided a moratorium on loan payment:
North Eastern Development Finance Corporation (NEDFi)
has decided to extend COVID19 Regulatory Package to eligible MSME clients through three (3) months moratorium/deferment of instalments for term loans falling due during the period – 01 March 2020 to 31 May 2020, subject to certain conditions.
Source: North Eastern Development Finance Corporation Ltd
Pag-IBIG Fund offers three-month moratorium on all loans
Pag-IBIG Fund (Philippines) is offering a three-month moratorium to its member- borrowers residing in Luzon and in the National Capital Region, to help defray their expenses during the enhanced community quarantine being implemented by the government in its fight to contain the Covid-19 virus.
CARD (Philippines) implements one-month moratorium for clients
The financial institutions of CARD Mutually Reinforcing Institutions (CARD MRI) have suspended its microfinance operations from March 17 to April 12, 2020. This is in response to the recent declaration by the Philippine Government of an enhanced community quarantine due to the COVID-19 outbreak.
Gentle reminder to Members: Please update and remit your annual membership dues soonest possible. For inquiries, please get in touch with Mr. Enrique Florencio at email@example.com
Bakey’s: A Delicious Way to Replace Plastic Cutlery
Created by Narayana Peesapaty, Bakey’s are a green alternative to plastic cutlery. Plastic cutlery cannot be recycled, and thus results in great amounts of waste every year.
Bakey’s is a brand of edible cutlery, which come in three different flavors: plain, sweet, and savory. They’re 100% natural, vegan, and will biodegrade if not eaten.