Cgap/ World Bank Group

CGAP is a global partnership of more than 30 leading development organizations that works to advance the lives of poor people through financial inclusion. Using action-oriented research, they test, learn and share knowledge intended to help build inclusive and responsible financial systems that move people out of poverty, protect their economic gains and advance broader development goals. They research and experiment to achieve proof of concept and extract lessons that can be built to scale by their partners, who apply their insights in the marketplace. Globally, about 1.7 billion people have no financial account -- at a bank, mobile money provider or other formal institution. Even when they have accounts, many poor people find them of little value and they are left unused. The result is that roughly one in three of the world’s adult population lacks the financial services they could use to dramatically improve their lives. They have no savings for a child’s education; they cannot access loans to buy the seeds and fertilizers; and they have no insurance to protect them from medical or natural disasters.

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