People have complicated lives precisely because they are poor. You might earn four dollars one day and then nothing for a week. This is even more complicated in rural areas where you sell the harvest and need the cash to last the whole year. Financial services can help poor people manage their cash flow, invest in opportunities and strengthen resilience to setbacks.
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This, in turn, helps them to make more with what they already have. Financial inclusion also means economic inclusion, which means being part of a country's economic development. And this contributes to improved incomes, vibrant communities and equitable development. Financial inclusion is about providing every Egyptian with the right product in the right place - where they need it - at the right price.
This can only be achieved when it is included in the bigger framework of the whole financial system. This system includes a diverse range of providers, such as banks, cooperatives, post offices, microfinance institutions, mobile phone operators and others. Now this financial system should be competitive and transparent, and should protect consumers. And it should lie upon the right infrastructure.
Access for All : Building Inclusive Financial Systems
I will go through these parts in more detail now. To begin with, let me touch upon microfinance. It is one of the important elements of financial inclusion, but only one part.
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Microfinance has transformed many lives. But we know that the demand by microentrepreneurs for finance is much greater, at least three times.
In order to meet this demand, we need to keep developing the microfinance sector in a regulated manner. And in the long term, clients need much more than loans. They especially need savings, the most empowering tool of all. Poor people do save. Yesterday I was visiting farmers in the Delta region.
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Through an interesting discussion, it became clear that only a few have a bank account. But they do have savings. They have cows, crops in the field, add to their house as soon as they can afford materials and put cash under the mattress.
But these informal means involve costs, such as food for the cow and sometimes the cow dies unexpectedly. So poor people do save. And savings has impact, especially for women. I've spoken about services for microentrepreneurs. But small and medium enterprises, also need financial services. So, an inclusive financial system provides therefore access to finance across the entire value chain. So often, people talk about micro-enterprise in one silo, and small enterprise in another. Auch Hinweise zu aktuellen Veranstaltungen finden Sie hier.
Hier gelangen Sie zu unserer Startseite. Click here to access our homepage. Indien setzt auf Sonnenenergie Internationale Zusammenarbeit wirkt Klimawandel: Basir Sowida, Unternehmer Afghanistan: Gjergj Luca, Fischereiunternehmer Bangladesch: Otis Diogo, Hotelier Bolivien: Nino Elbakidze, Juristin und Frauenrechtlerin Ghana: Bhagwanti Portay, Unternehmerin Japan: Best of the Microfinance Blog For the last fifteen years, microfinance experts have been watching Vietnam and identified it as a market that with the right policy opening has great potential.
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East Asia and Pacific. We asked CGAP staff to share their recommendations for the best financial inclusion-related reading of the year. Below is a small selection of the books, articles, and blog posts that made the cut.