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Global Financial Development Report 2014: Financial Inclusion

This GFDR report seeks to contribute to the evolving debate on financial inclusion. It follows the inaugural 2013 Global Financial Development Report, which re-examined the state’s role in finance following the global financial crisis. Both reports seek to avoid
simplistic views, and instead take a nuanced approach to financial sector policy based on a synthesis of new evidence. Financial inclusion has moved up the global reform agenda and become a topic of great interest for policy makers, regulators, researchers, market practitioners, and other stakeholders. For the World Bank Group, financial inclusion represents a core topic, given its implications for reducing poverty and boosting shared prosperity.

The increased emphasis on financial inclusion reflects a growing realization of its potentially transformative power to accelerate development gains. Inclusive financial systems provide individuals and firms with greater access to resources to meet their financial
needs, such as saving for retirement, investing in education, capitalizing on business opportunities, and confronting shocks. Real world financial systems are far from inclusive.

World Bank
With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.

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