The importance of achieving financial inclusion has gained greater attention recently due to the economic impact of the pandemic and the vital role access to financial services has played in supporting resilience and recovery, especially among the region’s poorest and most vulnerable people. In response, many governments have prioritized the development of the digital economy to enhance innovation and inclusion within the finance sector. Against this backdrop, the ADB, in partnership with the Asian Development Bank Institute, ABAC and the Foundation for Development Cooperation, organizedthe20 ..read more

In her final essay, Greta Bull reflects on several lessons learned in the course of her time as CGAP’s CEO: Beware of hype Serving the poor is hard, so manage expectations There is immense power in public/private collaboration Draw on the power of community … and suggests areas where the financial inclusion community should focus its attention in the coming years: Making sure that poor people are actually part of the digital economy Pro-poor banks that are fit for the digital future A better understanding of fintech and what it can do for the poor To continue building the digital infrastruc ..read more

Sadly, we learned of Md Shafiqual Haque Choudhury's passing, another of the world's leaders and innovators in microfinance. Shafiqual founded the Association for Social Advancement (ASA) in Bangladesh in 1978, then transformed the organisation into ASA International in 2007 to provide small, socially responsible loans to low income, financially underserved entrepreneurs, predominantly women. ASA International is now one of the world's largest microfinance institutions, with almost 2,000 branches across 13 countries serving 2.5 million clients. The distinctive microfinance model Shafiqual crea ..read more

E-commerce is a growing feature of local retail ecosystems throughout the Asia-Pacific region. Supported by new convenient and affordable transaction options enabled by internet-based platforms and mobile money, e-commerce is a significant driver of the use of digital financial products and services. While e-commerce across the region continues to develop, its success in generating demand for digital financial products and services for microenterprises and those at the base of the economy is not great. There is an opportunity for policymakers and regulators to create an enabling environment f ..read more

The digital revolution and its potential to transform access and use of financial products and services by the unserved and underserved is currently a focus for financial markets, the development sector and governments. A multitude of financial technology or fintech companies continue to emerge, all actively developing a wide range of technology-driven financial products and services in the retail finance sector. Much of this activity is being driven by significant recent advances in technology, including the rapid growth in mobile phone ownership and internet connection which provide new cha ..read more

The economic and financial effects flowing from lockdowns to curb the spread of Covid-19 have been severe in most Asia-Pacific economies, with substantial declines in the incomes of people at the base of the economy, many of whom rely on microfinance to manage their household or microenterprise cash flows. Like everyone else, people and enterprises at the base of the economy rely on financial products and services for basic needs such as savings deposits, receiving and sending payments, loans etc. However, in developing and emerging economies such services are often only available from microf ..read more

On 9 September 2020, FDC, in partnership with the Asian Development Bank Institute and the Bank of Papua New Guinea, hosted the 10th annual Asia-Pacific Financial Inclusion Forum (APFIF). The Forum, which is a policy initiative of APEC, brought together senior finance officials representing 16 economies across the region as well as over 20 industry experts to discuss specific actions policymakers and regulators can take to expand the reach of financial services to the underserved. With a focus on financial inclusion as an enabler of inclusive growth, especially for those at the base of the ec ..read more

Government responses to stem COVID-19’s consequences have been slow to reach those at the base of the economy. COVID-19 is impacting everyone. In Australia, declines in employment and incomes have resulted in approximately one quarter of Australians indicating in April 2020 that they were finding it difficult or very difficult to live on their current income. Various policy and budgetary responses taken by the Australian Government have helped cushion the blow, including for low income households. Low income and poor households across Asia have not been so fortunate. The economic and financi ..read more

In 2019 BWTP supported the 16th annual Inclusive Finance India Summit which took place in New Delhi from 4-5 December. The Summit provided a major platform for hundreds of stakeholders to interact and enable action through partnerships, innovation and facilitating policy support for greater financial inclusion in India. As part of the Summit proceedings, the annual Inclusive Finance India Report was also formally launched. The Inclusive Finance India Report, an annual publication (since 2006) of ACCESS Development Services, is an in-depth, well researched, well-analyzed reporting on how finan ..read more

Six esteemed analysts* draw on an extensive survey of microfinance enterprises, loan officers, regulators and microfinance institutions and identify six factors that will shape the structure of the sector, survival of microfinance providers, and services available to the hundreds of millions of people living at the base of the economy in Asia and elsewhere. The authors note the challenges in serving households having a combination of low incomes, volatility and unpredictability, and strengths of traditional microfinance models that rely on group cohesion and social networks, but are constrain ..read more