The Arab World and Financial Inclusion During Crises
Many donors and investors focusing on financial inclusion in the Arab World are considering how to adjust or adapt their work given the level of crisis in the region. This blog series share insights from organizations working in this situation, who are documenting what they have learned.
Four Iraqi MFIs, representing 15% of the market closed their doors in recent years due to conflict in the country. This left 20,000 clients with few other options, as Iraq's financial system remains underdeveloped.
In Indonesia, MercyCorps is pioneering a program to help MFIs prepare for natural disasters, respond quickly when clients are in need, and stabilize the financial sector serving low-income people post-disaster.
UNHCR and its Graduation partners Trickle Up and BRAC University decided to test the Graduation Approach with the aim of helping urban refugees in Egypt progress from vulnerability to self-sustainability.
With a series of crises unfolding throughout much of the Arab world today, the donor community has been challenged to find appropriate ways to address the widespread loss and increasing vulnerability in the region.
With unemployment rates in Gaza reaching the double digits and the UN estimating that more than three-quarters of the population depends on aid to survive, it’s little wonder that the services of microfinance institution, FATEN, are in such high demand.