Microfinance is an arrangement to credit the small loan amount to people having little or no income so that they can create their own livelihood. Microfinance industries also include other services such as savings accounts, training, health services, and networking. The microfinance industry mostly works in developing and emerging countries such as Bangladesh, India, Brazil, and Colombia. Generally, repayment rates in the microfinance industry are higher as compared to conventional buyers. It is due to a system of peer support that is used in many microcredit models and borrowers are responsible for each other. Before the pandemic, government initiatives, increasing foreign investment in the emerging economies, growth in small and medium enterprises are some of the major drivers for the microfinance industry. Moreover, rising potential toward household living and maintaining social living in rural areas is also augmenting the market.

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The COVID-19 pandemic has created a temporary as well as long time impact on the microfinance industry. In many emerging economies, lockdown for weeks has been announced by the government to prevent the spread of the COVID-19. Countries such as India, Bangladesh, Colombia, and others are under lockdown for weeks due to which regular operation related to microfinance is halted. Moreover, global investors have withdrawn huge investments from emerging economies due to the downfall in the stock market, which is creating credit and liquidity problems in those economies. Moreover, due to coronavirus, a downfall in global GDP in 2020 is projected, which is also going to affect the microfinance industry in a negative way.

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Global Microfinance Industry Market

By Verticals Affected Most

Group and Individual Micro Credit

Insurance

Leasing

Micro investment Funds

Savings and Checking Accounts

Others

Regional Analysis

North America

United States

Canada

Europe

UK

Germany

France

Rest of Europe

Asia-Pacific

China

Japan

India

Rest of Asia-Pacific

Rest of the World

Latin America

Middle East Africa

Company Profiles

Adie

Bancamía S.A.

Banco do Nordeste do Brasil SA

Bandhan Bank Ltd.

Bangladesh Rural Advancement Committee (BRAC)

PT Bank Rakyat Indonesia Tbk

CreditAccess Grameen Ltd.

Grameen Bank

Kiva Microfunds

Qredits Microfinanciering Nederland

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