Thursday
February 25
2016

The ‘Bank Of Bill Gates’ Enters a New Era

Bill Gates doesn’t like to dither. Just seven years after his philanthropic Bill And Melinda Gates Foundation cofounded an organization committed to the financial inclusion of the world’s 2.5 billion unbanked people,  it now stands on its own, independent of any government and self-reliant for core funding.

In that time, countries that are members of the Alliance for Financial Inclusion have embraced 132 policy initiatives aimed at increasing financial inclusion and half a billion people have taken out bank accounts for the first time. The cost has been just $63 million of Gates’ $28 billion donation to the foundation.

Established at the end of 2008, AFI styles itself as the world’s only peer learning platform for financial inclusion policymakers from developing and emerging countries.

It has a lofty goal of providing access to financial services to the 2 billion of the world’s people that are still unbanked as a route to reducing poverty and promoting inclusive growth.

Source: Forbes (link opens in a new window)

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Bill & Melinda Gates Foundation, financial inclusion, unbanked