Many countries have launched unprecedented relief packages to cushion the economic and social impact of the COVID-19 pandemic. Lessons from the COVID-19-related scale-up of social assistance can be harnessed by developing countries to rethink and strengthen the architecture of social protection systems in the future.
New or scaled-up COVID-19 social assistance in the form of cash transfers now reaches nearly 1.1 billion beneficiaries, one in every six people in the world. In a new CGD policy paper, we draw on early evidence from selected countries on the use of digital technology to implement these government-to-people (G2P) social transfer programs.
This Briefing provides guidance to policymakers to work with financial sector regulators and implement COVID-19 social assistance payments that facilitate rapid, remote account opening in compliance with anti-money laundering and counter-financing of terrorism (AML/CFT) rules.
Around the world, women are being hit hard by the economic impacts of COVID-19 (coronavirus). As the fallout from the pandemic deepens, so do the short and longer term effects on women’s empowerment. The insecurity and lack of social protection that characterize informal, temporary, unpaid labor put millions of women and their families at extreme risk: in many developing countries, most women in paid work were working informally – around 95 percent in Asia and 89 percent in Sub-Saharan Africa.
This paper summarizes the range of practice across jurisdictions that have employed a combination of SDD (also known as tiered CDD), licensing of non-bank financial institutions, and digital identification to enroll unbanked individuals into financial accounts so that they could receive COVID-19-related relief cash transfers.