Recovery Lending for Resilience in DR Congo
Recovery Lending for Resilience in DR Congo
The Democratic Republic of Congo (DR Congo) has been heavily hit by the impacts of COVID-19, and we are working to support clients recover from a devastating 2020.
Recovery Lending in DR Congo
In the first three quarters of FY21, VisionFund DR Congo made 1,470 recovery loans (794 to women) valued around $3,951,624. Through these measures and through generous donated funds, our clients in DR Congo will have a chance to restore their livelihoods.
Digitisation in DR Congo
For our DRC microfinance institution, implementing mobile banking in the first instance to remove cash handling for branches will reduce operational costs and protect clients from unnecessary travel and meetings.
As most of our clients own mobile phones, mobile banking is an efficient way for clients to perform transactions and make repayments without risking the spread of COVID-19. VisionFund DRC has procured a vendor to support mobile money, and looks forward to rolling out the changes over 2021.