July 3, 2020
The COVID-19 pandemic is an unprecedented shock to the world economy. New Finnfund Insights discusses some of the main channels through which businesses in the developing world feel the impact from pandemic.
“As a development finance institution, we have good visibility to how businesses in emerging and developing markets are affected,” said Minna Kuusisto, Finnfund’s Economist.
“While many newspapers are covering the immediate impacts the pandemic has on businesses, for example on industrial companies or on the service sector in the developed world, we now want to give a glimpse on how businesses in the developing world have been impacted.”
Businesses in developing markets face issues that are very similar to the issues businesses in more developed markets are facing, such as disruptions in supply chains or abrupt changes in the availability of staff or access to finance. However, as their operating environment is often more challenging to begin with, businesses in developing countries are significantly weaker positioned to face a crisis.
In particular, the report gives an overview on how the pandemic has affected businesses in Finnfund’s key industries thus far: sustainable forestry, sustainable agriculture, renewable energy, and financial institutions.
Minna Kuusisto, Economist, tel. +358 44 260 9979, firstname.lastname@example.org