We, the undersigned groups, are calling on the government to direct all microfinance institutions (MFIs) and banks in the country to suspend all loan repayments and interest accrual for at least three months in order to give borrowers the opportunity to stay home and stay safe during the current COVID-19 outbreak without needing to fear losing their land or homes if they cannot repay their debt.

The garment, tourism, entertainment and construction sectors have been hit especially hard by the pandemic. These sectors employ hundreds of thousands of women, and women also hold 75% of microfinance loans, meaning in many cases this pandemic has hit women borrowers especially hard. Farmers, migrant workers, poor communities, informal workers, traders, small business people and street vendors have also seen incomes plummet. Very few people have been spared the economic effects of COVID-19.