We must act now to prepare for challenges arising from COVID-19.

The humanitarian and economic toll of the COVID-19 pandemic presents unprecedented challenges for leaders in all industries. Businesses are grappling with how to respond to a situation that is constantly changing. While everyone will feel the impacts of the pandemic, low-income communities and microbusinesses are especially vulnerable to the business interruptions likely to result from COVID-19. They are less likely to have adequate savings, insurance, or credit that can help them to weather this downturn. Given the speed at which the virus has spread, a passive response is not an option. Financial service providers, particularly those serving low-income individuals and underserved micro, small, and medium enterprises (MSMEs), need to act now to ensure that individuals and communities are supported.