Dyeing factory Fez, Morocco | Photo by Ihab Fayad, 2017 CGAP Photo Contest Photo by Ihab Fayad, 2017 CGAP Photo Contest

Trends in International Funding for Financial Inclusion

Donors and investors need to continue thinking about and adapting their roles in an increasingly complex financial inclusion landscape. Knowing who is funding what, and where, is a good starting point. It can help funders make informed decisions on funding allocation, improve coordination among funders, and shed light on when and how to adjust their efforts to meet targeted objectives.

The CGAP Cross-Border Funder Survey provides data on the funding flows for financial inclusion, based on the premise that better information leads to better funding decisions. Conducted annually since 2008, with the latest edition implemented in partnership with Tameo Impact Fund Solutions, it alternates between surveying a full set and a smaller set of the largest international financial inclusion funders.

For 2022, CGAP collected data from n=47 funders comprising $46.2 billion in commitments. To enable comparability of data over time, year-over-year analysis outside the global estimate is based on a subset of the n=30 funders who have consistently participated, and who represented $41.6 billion of commitments in 2022. The CGAP Funder Survey is the most comprehensive resource available on international funding for microfinance and financial inclusion.

2022 Data

2021 Data


CGAP’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.

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.

2020 Data


International funders committed approximately US$58 billion to financial inclusion in 2020, a $6 billion increase from the prior year. Commitments from public funders continued to drive growth.

The Funding Explorer contains 5 interactive dashboards that reflect active international financial inclusion funding commitments as of December 31, 2020.

Data snapshots are available at the global and regional levels. The 2020 CGAP Funder Survey analyzes funding commitments from international funders as of the end of 2020.