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Making financial services meet the needs of the world’s most vulnerable
People living in poverty constantly juggle an evolving set of risks and crises in their daily lives. Climate change, the pandemic, and the ongoing food crisis, among others, have increased these risks substantially, contributing to a rise in global poverty and inequality. Meanwhile, a third of the world’s adult population lacks the financial services they could use to significantly improve their lives. CGAP is working to change this, and we believe that positive trends in inclusive finance offer hope for a green, resilient, and inclusive future.
Lebanon’s 2019 crisis plunged many into poverty. In 2021, the World Bank launched a $246M social safety net, and the Government of Lebanon, with Siren Associates, developed DAEM—a digital platform for social assistance. In this episode, we hear from key players about how collaboration made DAEM a success and how, even in crisis, solutions can go beyond relief to build a more inclusive financial system.
Microcredit can help MSEs create jobs and build resilience but often falls short on growth. The Impact Pathfinder highlights credit’s opportunities and gaps, stressing the need for better financial products and support to boost employment.
Inclusive credit fintech can help address the US$4.9 trillion global credit gap for MSEs. However, early-stage fintechs face significant challenges in securing diverse funding sources. This focus note explores financing strategies for inclusive credit fintech in Africa, highlighting recent innovations and case studies. It also identifies knowledge gaps that hinder strategy design for international donors and impact investors eager to support digital innovations in MSE credit markets.
AI-powered chatbots can be transformative for rural women by providing accessible, real-time agricultural advice, improving productivity, and fostering financial independence. Challenges must be addressed to ensure their full impact and inclusivity.
Featured Topics
An inclusive financial system empowers vulnerable people to pursue their own climate resilience strategies, making it an absolute necessity for a just transition.
Learn what CGAP is doing to unlock how data can be leveraged to catalyze financial services that reach poor and underserved people at scale and in a responsible manner.
Rural women face disproportionate threats from climate stresses and shocks compared to men.
