Are you attending the 2015 Annual Meetings of the World Bank Group and the International Monetary Fund in Lima, Peru? Join us at the Civil Society Policy Forum* for a workshop to explore how microfinance and financial inclusion can contribute to the fight against extreme poverty.
The Microcredit Summit Campaign will host a workshop at the Forum at the World Bank Annual Meeting in Lima from October 6-9. The Forum promotes substantive dialogue and an exchange of views between Bank/Fund staff, civil society organizations (CSO), government officials, academics, and other stakeholders.
6 Financial Inclusion Pathways to End Extreme Poverty — What Role Can You Play?
In 2011, we commissioned more than 40 papers to accompany the workshops and plenaries organized at our Global Microcredit Summit 2011. This week’s #ThrowbackThursday is a great opportunity to review the wealth of knowledge generated by the Summit. Listen to the audio recording from the workshop here.
What is the Cutting Edge for Microfinance in Remote, Hard to Reach Areas?
Authors: Anne Hastings and Steven Werlin
Maximizing access to financial services in remote rural areas requires us to face a range of challenges that demand, in turn, a range of solutions. The problem is no more uniform than the regions that the services need to get to or the nature of the services required.
Access is not an end in itself but merely an important means towards progress for rural families and the communities they inhabit. That means that there are two sides to the question of access. On one hand, we must ask: what are the most effective ways to deliver financial services to especially hard-to-reach areas. Getting standard financial services to some areas presents significant challenges. On the other, there are distinct products and services that can help families living in remote rural areas in important ways. In other words, there is both a question of delivery of services and a separate question of the design of those services. In this paper, we have chosen to focus almost exclusively on the delivery of services.
In 2011, we commissioned more than 40 papers to accompany the workshops and plenaries organized at our Global Microcredit Summit 2011. This week’s #ThrowbackThursday is a great opportunity to review the wealth of knowledge generated by the Summit. Continue to the blog post to read “Financial Literacy: A Step for Clients Towards Financial Inclusion” by Monique Cohen and Candace Nelson and listen to the audio recording from the workshop.
Introduction: Financial Education for Financial Inclusion
These are tumultuous and exciting times for microfinance, marked equally by the stunning potential of the cell phone to change the face of financial services and disturbing reports of suicides linked to over-indebtedness. Against this backdrop, a shift in the industry is taking place, drawing our attention from the financial institution back to the client. Indicators of a renewed concern for clients include research to quantify the “unbanked,” rallying calls for consumer protection, and efforts to better meet customer needs with diversified products. A key driver of this change in focus is the now widely embraced goal of “financial inclusion.” Governments of developed economies, in G20 Summit agreements, have recognized financial inclusion and consumer protection as integral to achieving financial stability and integrity. Financial access has been highlighted as a “key accelerator” to meet the Millennium Development Goals. Key to attaining this laudable goal is financial education (World Savings Bank Institute, 2010).