Research & Analysis

2021 Trends in International Funding for Financial Inclusion

CGAP Funder Survey 2021 Front CoverCGAP’s annual Funder Survey breaks down financial inclusion funding data to offer new intelligence about who’s doing what and where—insights that could be used to inform future development programming and coordination, to ultimately impact the lives of people living in poverty. 

This year’s Survey found that international funders committed US$68 billion for financial inclusion in 2021. Private investors were the primary drivers of financial inclusion funding growth in 2021, which may reflect a rebound in private investment following a pandemic slowdown, as well as a cooling from public funders following their stronger role in 2020.  

This edition of the survey applied a new approach to segmenting financial inclusion commitments, enabling a better understanding of project purpose and how well funding is targeted to specific market needs. 

Related Resources


The Funding Explorer is a set of seven interactive dashboards reflecting active international financial inclusion funding commitments as of December 31, 2021. The Explorer uses data from the CGAP Funder Survey complemented by publicly available contextual indicators.  

These data snapshots were generated from the 2021 CGAP Funder Survey and they may be browsed online or downloaded to share and use in your own presentations

Transparency around funding for financial inclusion is critical to effective funder decision-making and coordination, and broader impact. Drawing on findings from our latest Funder Survey, we share five opportunities to improve transparency.
Sub-topics: Funding Trends