Top Two Solutions from the COVID-19 Financial Health Challenge
COVID-19 is a pandemic of both historic public health and economic proportions. In addition to its health implications, it has exposed and exacerbated the instability of our financial and economic systems.
Among the most affected segments are informal and daily wage workers, gig economy workers, and small business owners who are suffering from loss of work and income. The pandemic is, therefore, putting the financial health of individuals, communities and entire countries at stake.
While most governments are doing the best they can to provide healthcare and financial support, times like these require swift global cooperation between both the public and private sector.
With support from MetLife Foundation through the i3 Program, the UNCDF Financial Innovation Lab (FinLab) launched the COVID-19 Financial Health Challenge, focusing on solutions that can help build and improve financial health and resilience of individuals and small businesses; as well as solutions that directly address the financial health needs of people who are most impacted by the pandemic, including women, youth and the elderly.