Mitigating Risks and Identifying Opportunities
The war in Ukraine has triggered a new refugee crisis. To examine issues with refugees’ access to financial services in countries neighbouring Ukraine and explore the risks financial service providers in Eastern Europe and Central Asia are facing, Triple Jump Advisory Services hosted two webinars in partnership with the Microfinance Center and BFC.
Session One: Direct impacts on Neighboring Countries
The first webinar session examines current issues with refugees’ access to finance in Ukraine’s neighboring countries from three key perspectives:
- Financial Service Providers (FSPs)
- Development Financial Institutions/Donor Organisations & Local Stakeholders.
Session Two: Indirect impacts on MSMEs and Financial Services Providers
In this second session we explored how the war in Ukraine has impacted the cost of capital, increased commodity prices and borrowing costs. How has this economic decline affected remittances? What are the impacts on FSPs’ and loan portfolio growth? We delve into FSPs’ financial solutions to these issues that are already in action as well as potential Fintech solutions FSPs could profit from.
- Operational Data Portal: Ukraine Refugee Situation, Up-to-date UNHCR data on the Ukrainian refugee crisis and useful links
- The Temporary Protection Directive, “assistance to people fleeing the war in Ukraine.”
Financial service providers
- Serving Refugee Populations: The Next Financial Inclusion Frontier, UNHCR guidelines for financial service providers serving refugees
- BFC’s FinTech Bulletin
- KIVA Refugee Portfolio
- EBA Opinion on the Application of Customer Due Diligence Measures to Customers Who Are Asylum Seekers from Higher-risk Third Countries or Territories, European Banking Authority (EBA) opinion on due diligence measures for refugees
Development financial institutions & local stakeholders
- Effective Inclusion of Refugees: Participatory Approaches for Practitioners at the Local Level, UNHCR toolkit for the effective inclusion of refugees
- Financial Inclusion in Europe and Central Asia: The Way Forward?, World Bank article on boosting financial inclusion in Europe and Central Asia