CGAP

Earlier this week, The World Bank Senior Managing Director Axel van Trotsenburg addressed participants at the Financial Inclusion 2.0 event hosted by CGAP. Here are the key highlights:   ➡ With so much private and public funding flowing into #FinancialInclusion initiatives, it is critical to ensure that these resources are used effectively and have a positive #impact. This requires an ecosystem where everyone plays an important role:  ✔ Multilateral development banks  ✔ Development finance institutions  ✔ Governments  ✔ Investors  ✔ Financial service providers    ➡ The work that CGAP is doing in this area can serve as a model for all stakeholders.     ➡ The World Bank has launched a new outcome-based scorecard which helps monitor and report on the outcomes of its development initiatives and how they are helping countries.    ➡ It has created a dedicated department for outcomes specifically tasked to work across the World Bank Group to implement the outcome-oriented focus in all areas of our work. 

Food insecurity remains a global crisis, with +735 million people lacking adequate caloric intake in 2024. At CGAP, we’re developing a framework to address this through #InclusiveFinance, focusing on impactful agricultural value chains (AVCs), #AgTech innovation, and #FinancialServices tailored to people living in poverty. Our approach involves partnering with financial service providers to pilot this framework across select countries, aiming to deliver scalable, sustainable solutions that maximize #FoodSecurity outcomes. By aligning investments and policies with these insights, we’re working to create #FoodSystems that truly serve those in need. Read more in our latest blog by Emilio Hernandez-Hernandez & Xavier Faz: https://cgap.pub/4hee5Wx

Over the past decade, we've made significant progress in expanding access to #FinancialServices for underserved populations. However, access alone is not enough; we need to prioritize the outcomes that financial inclusion contributes to. Today, as part of its Financial Inclusion 2.0 initiative, CGAP convened key stakeholders from across the public and private sectors to explore how #FinancialInclusion interventions and investments can deliver greater impact in line with global development goals. Conversations focused on:  ✅ Financial Inclusion Impact Pathways An upcoming CGAP interactive platform will enhance the sector’s understanding of the evidence connecting financial inclusion to key development outcomes. Stay tuned for the launch! ✅ The Future of Outcome Measurement What challenges does the financial inclusion industry face in measuring outcomes? What innovative approaches can help tackle these issues, and what does the future hold for outcome measurement? ✅ Financial Health and Wellbeing What are these two concepts, why have they received so much attention in recent years, and how do they relate to long-term development outcomes? ✅ The Role of AI As AI becomes increasingly prevalent, how can we leverage it to track and measure outcomes? What opportunities and risks does it present? ✅ Looking Ahead What’s next for financial inclusion?  

The #FinancialInclusion industry must focus on impact. Champions of Financial Inclusion 2.0 share how CGAP’s global initiative can drive meaningful change by catalyzing the sector's attention toward #impact. Explore the 3 main components of Financial Inclusion 2.0 that help drive an outcome agenda:  ➡ Component 1 looks at the existing evidence to understand the pathways of impact and identify knowledge gaps that research still needs to address.  ➡ Component 2 focuses on better understanding the contextual factors that can lead to varying impacts from similar financial inclusion interventions.  ➡ Component 3 aims to define impact indicators that can serve as a compass for the industry and shape the future focus of financial inclusion on outcomes. Together, these components pave the way for a more impactful financial inclusion agenda. Watch the video to learn more about this initiative! 👇 Many thanks to our Champions Shamina Singh, Michael Schlein, Makhtar Diop, Gaurav Gupta, Smita Aggarwal, Catherine Flockhart, Javier M. Flores Moreno, Nazmeera Moola, Renato Gomes, Indermit Gill, and their representatives: Adel Meer, Arturo Franco, Carlos Eduardo de Almeida, Ali Schmidt-Fellner, Kabir Sethi, Stephanie Garcia Van Gool, Nancy Widjaja, Kathleen Yaworsky, Juliana Hansveden, CFA, Ed Whitten.

#ClimateChange affects all 8 billion people on our planet. Every one of us deserves the opportunity to participate in the #JustGreenTransition. 🌱 Inclusive financial services can help provide that opportunity by directly empowering people living in low- and middle-income countries to adapt to climate change and benefit from green technologies. Read our paper, “8 Billion Reasons: Inclusive Finance as a Catalyst for Climate Action”, to learn more: https://cgap.pub/45ggrOT

With growing instability and uncertainty in the global economy, and slowing growth rates, it's clear we need new drivers of growth. In addition, in regions where extreme poverty persists, new enterprises are vital for lifting communities.   Indermit Gill, The World Bank's Chief Economist & Senior VP for Development Economics, one of CGAP’s #FinancialInclusion 2.0 Champions, highlights three ways in which financial inclusion can help address these global development challenges: ✅ It enables people to better manage shocks and uncertainties. ✅ It creates new job opportunities. ✅ It helps boost economic growth.

In times of crisis, delivering essential services like #G2P payments can overwhelm governments and humanitarian organizations. Ukraine’s Diia app demonstrates how #DigitalPayments and public-private partnerships can bridge gaps and ensure quick, secure assistance. Throughout the conflict, Diia has played a crucial role in supporting citizens in #Ukraine by enabling payments through a seamless digital platform. With almost a quarter of the world’s population living in fragile and crisis-affected areas, investing in digital infrastructure is key to ensuring #resilience in times of crisis. Read more in this blog by CGAP CEO Sophie Sirtaine & Andrew Torre, Regional President for Central and Eastern Europe, Middle East and Africa at Visa: https://cgap.pub/4eW4nXc

In the face of growing global challenges, it’s more important than ever for impact investors to move beyond outputs to focus on development outcomes, as demands for greater transparency are increasing and the risks of not addressing negative outcomes are significant. We are excited to release two key publications that explore what it will take to accelerate progress so that impact measurement and management (IMM) in impact investing can drive meaningful change for end clients of financial services. 📄 CGAP Working Paper: This paper highlights four critical enablers for advancing IMM practices to focus on outcomes: ➡ Building a shared understanding of use cases ➡ Overcoming methodological constraints ➡ Integrating outcomes data into decision-making ➡ Enhancing transparency in outcomes reporting 📊 Global Partnerships Case Study: Explore how Global Partnerships, a nonprofit impact-first fund manager, integrates outcomes data throughout its investment cycle to inform decisions, manage impact risks, and broaden financial inclusion. Learn how leadership, collaborative stakeholder relationships, and continuous learning play a crucial role in their success. 🔗 Read the full working paper: https://cgap.pub/3Yh2rkL 🔗 Explore the case study: https://cgap.pub/3AbDpvx The time is now to align the capital value chain and make outcomes measurement and management a key part of the impact investing journey. By focusing on real outcomes for clients, including women, impact investing can help mobilize financial services that contribute to critical areas for sustainable development. #ImpactInvesting #FinancialInclusion #IMM #OutcomesMeasurement Estelle Lahaye, Elizabeth Kiamba & Charlotte Clarke

Together with CGAP, the Global Shield against Climate Risks co-hosted a vital conversation on gender-sensitive inclusive insurance at the International Conference on Inclusive Insurance #ICII2024 in Nepal, taking place from 21-25 October! Today’s session was moderated by Anaar Kara, CFA and featured Global Shield Co-Director Dr. Astrid Zwick, who addressed how climate risks uniquely impact women and discussed actionable steps to bridge the gender protection gap, along with an expert panel including Fatou Fall Giwa, Rajvi Joshipura & Carlos L. How are women affected by climate risks differently than men? What are governments, donors and insurers doing to respond to this risk? The Centre of Excellence for Gender-smart Solutions actively contributes to the cause. Find out more: https://lnkd.in/e_FQvNq For more on how the COE supports gender mainstreaming in the Global Shield’s In-Country Process: https://lnkd.in/evuqut2B Women are more disproportionately impacted by climate change than men. 𝗥𝗲𝗽𝗼𝘀𝘁 𝗶𝗳 𝘆𝗼𝘂 𝗮𝗴𝗿𝗲𝗲! We’d love to hear your thoughts in the comments! #InclusiveInsurance #GenderEquality #ClimateResilience IAIS - International Association of Insurance Supervisors SEWA Cooperative Federation IFC - International Finance Corporation Munich Re Foundation, Microinsurance Network, NEPAL INSURANCE AUTHORITY (Insurance Regulatory)

#Edutainment does more than entertain. It shapes our understanding of the world and sparks change – and even the use of #FinancialServices. 📽💸 Programs like Makutano Junction have demonstrated this impact, inspiring 138,000 low-income women in Kenya to open savings accounts. Now, Makutano Mamas aims to inform and inspire rural women’s use of SACCOs in #Kenya. By combining relatable characters with key information on how SACCOs work and are led, this reboot can strengthen the role that vital financial service providers play in rural areas. CGAP, The World Bank Food and Agriculture Global Practice (AGF), and the International Livestock Research Institute (ILRI) believe that informed storytelling can strengthen rural #SACCOs and encourage women’s participation in their leadership. Join us in exploring how edutainment can continue to drive #FinancialInclusion. Share your research or examples of how it’s improving financial lives! You can learn more in this blog post: https://cgap.pub/3AbfIDt By Jamie Anderson, Ghada Elabed, Alessandra Galie' & Jeehye Kim