International funding for financial inclusion climbs to $29 billion in 2012 – survey
Monday, January 13, 2014
LONDON – Global spending on financial inclusion increased by an estimated 12 percent in 2012, totaling $29 billion, according to a survey by a World Bank financial inclusion think tank.
The annual Funders Survey by the Consultative Group to Assist the Poor (CGAP), which analyses trends in international funding for financial inclusion, found that over 70 percent of the estimated spending came from public funding.
Financial inclusion, the delivery of financial services at affordable costs to disadvantaged and low-income parts of society, is considered an effective tool to help reduce poverty worldwide.