Attention points business continuity for MFIs in view of the COVID-19 outbreak
Download our guide of good practices to adapt to face the risk of pandemic in the microfinance sector.
This guidance note describes some attention points for the analysis and measures to be taken to arrange proper crisis management and to ensure business continuity in the face of the COVID-19 pandemic.
This guidance note is organized in two main parts including guidance for analysis and a checklist of measures for crisis management and BCP. The note is meant to be a practical tool for MFIs. It can be used entirely or partially depending on the specific needs and stages of the situation.
The objective of the present note is to provide reference guidelines to Microfinance Institutions (MFIs)/Financial Service Providers (FSPs) when preparing their own Business Continuity Plan to face the pandemic crisis in order to:
- Maintain responsible treatment of clients and support to come up with measures to cope with theCOVID-19 situation
- Minimize the risk of infections and insure responsible treatment of employees and agents duringthe crisis
- Minimize the risks for the institution in order to ensure business continuity during and after the crisis
- Proactively communicate with all stakeholders.
ADA and Oikocredit have developed a series of tools to help you implement these best practices to manage the crisis related to the COVID-19 pandemic.
COVID-19 is the infectious disease caused by the most recently discovered coronavirus. The symptoms of the COVID-19 are similar to that of regular pneumonia. Typical symptoms include fever, runny nose, sore throat, cough and shortness of breath. This new virus and disease were unknown before the outbreak began in Wuhan, China, in December 2019. The World Health Organization (WHO) declared this outbreak as a pandemic and must be taken very seriously.