COVID-19 Mitigation Efforts
During this time of unprecedented crisis, the SME Finance Forum, as a global SME finance community, is committed to supporting its members and partners. In this repository, we will share resources, events, and other vital information relevant to the SME Finance ecosystem.
1. Online Discussion Series - By invitation only
Over a period of less than two weeks, since COVID 19 was officially declared a pandemic by WHO on March 11, 2020, the number of people known to have been infected by the virus has tripled. This week, at least more than 330,000 are known to have the virus in over 150 countries and 14,000 have lost their lives to the virus. More and more countries have taken unprecedented and drastic measures to contain the spread of the virus by closing towns, cities, and national borders, disrupting not only the social lives of the people but also the economies, including millions of SMEs around the world.
Starting Thursday, March 26, 8:00 a.m. EST, and initially, for the next six weeks, the SME Finance Forum will host an hour-long Webex-based Online Discussion Series for Members on COVID-19 crisis. Each meeting will feature a speaker, who will describe their institution’s mitigation actions and efforts. Speakers will present for the first 10-15 minutes, and then we will open the floor for discussion to share best practices and concerns in this challenging time. Hence, the weekly sessions are organized to provide our members with opportunities to share and learn from each other’s experiences in a continuous and real-time basis.
Each meeting will also focus on several themes (examples below), though all and any questions will be accepted:
- Collections/grace periods/other adjustments
- Managing disruptions to supply chains and their financing;
- Regulator relations/adjustments to prudential norms
- Risk management for both existing borrowers and first time (previously non-borrowing) clients
- Loan classification and credit information sharing;
- Government initiatives
- Development finance institutions’ responses
This online discussion will be open to all members, who can suggest other institutions who might benefit from joining as participants, and/or as presenters. The Forum will prepare a written summary after each discussion, that will be shared on our Members Portal, with access only to members and speakers.
- IFC and Kabbage efforts - March 26, 2020 - 8:00 a.m. EST
- Online Discussion Series on COVID-19 Mitigation Efforts: April 2, 2020 - 8:00 a.m. EST- to be announced
2. Online Repository
International Organization's COVID-19 Hubs
- The World Bank Group and COVID-19 (Coronavirus)
- World Health Organization on Coronavirus Outbreak
- Centers for Disease Control and Prevention on COVID-19
- OECD Online Policy Hub in Response to Coronavirus Crisis
- Member DBS: Supporting Our SME Community Amid A Crisis
- Member Ant Financial working to help SMEs affected by the coronavirus crisis