Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
 

August 6, 2020 - COVID-19 Update:

Kiva has been in contact with WMB to understand how we can best support their business and borrowers during the ever-evolving COVID-19 pandemic. We continue to prioritize the safety and well-being of all staff, borrowers and their families as this global pandemic continues.

While country-specific responses to the crisis vary, most governments have imposed curfews, travel restrictions, and nation-wide shutdowns. Papua New Guinea has imposed temporary moratoriums on loan payments, affecting not only microfinance, but the economy as a whole.

As a result, borrowers and WMB may experience difficulty making and collecting loan repayments due to the aforementioned restrictions or fallout effects of the virus. Over the coming months, it’s possible that lenders will see a delay in repayments and new loans posted by WMB. As an impact-first funder, Kiva is committed to serving our Lending Partners, as in past crises. We are sympathetic to temporary increases in repayment delays and delinquency in order to help Lending Partners and borrower communities recover. 

Kiva is working closely with WMB to support them and their borrowers through the COVID-19 crisis. WMB is sending regular updates to Kiva, and we'll update Partner Pages as we learn more. 

On behalf of Kiva and WMB, we’re grateful for your continued support through this difficult time.

Partner description:

Women’s Micro Bank is a microfinance institution in Papua New Guinea, and the only one in the country with an explicit focus on women. Women’s Micro Bank is committed to investing in low-income rural women, and assists women to become self-reliant, entrepreneurs and equal participants in the development and prosperity of the country. Through their mission, the organization hopes to improve the lives of women in Papua New Guinea.

A unique lending approach:

Kiva financing will go towards Women’s Micro Bank’s efforts to sustainably support the expansion of its loan portfolio. The organization is creating 2 types of loans: general loans and agricultural loans. General loans will support a broad set of informal business activities while agricultural loans will go towards women engaged in farming.