Universal Financial Access Vital To Reducing Poverty, Says World Bank President Jim Yong Kim

Monday, October 14, 2013

Recognizing that 2.5 billion adults worldwide are ‘unbanked’ and that close to 200 million micro to medium enterprises in developing economies lack access to affordable financial services and credit, leaders today at a major World Bank Group forum put forward a vision for achieving universal financial access by 2020.

“Universal access to financial services is within reach – thanks to new technologies, transformative business models and ambitious reforms,” said World Bank Group President Jim Yong Kim “As early as 2020, such instruments as e-money accounts, along with debit cards and low-cost regular bank accounts, can significantly increase financial access for those who are now excluded.”

Source: Eurasia Review (link opens in a new window)

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financial inclusion, poverty