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Cambodia

How are Financial Capability and Financial Access Linked? Insights from Colombia and Mexico

Miriam Bruhn's picture

Access to formal financial services has been expanding in recent years.  But as people start to use these services for the first time, it has become clear that the challenge is not only providing access to financial services, but also ensuring that people have the behaviors and attitudes to use financial products responsibly and to their advantage. If not, increased access to finance could potentially lead to over-indebtedness and even financial crises.

Two recent nationwide surveys of 1,526 adults in Colombia and of 2,022 adults in Mexico measure financial capability to provide insights on how people manage their finances. The term “financial capability” refers to a broader concept than financial literacy or knowledge alone. It covers a number of different behaviors and attitudes related to participation in financial decisions, planning and monitoring the use of money, and balancing income and expenses to make ends meet.

The financial capability surveys find for example that, in Mexico, many make financial plans, but far fewer adhere to them. Seventy percent of those surveyed say they budget, but just one-third reported consistently adhering to a budget. Similarly, just 18 percent knew how much they spent last week. In Colombia, while 94 percent of adults reported budgeting how income would be spent, less than a quarter of those surveyed actively monitored spending or had precise knowledge of how much is available for daily expenses.

Jishnu and Shanta Talk Transfers

Shanta Devarajan's picture

Shanta:  Jishnu, your blog post and mine on cash transfers generated a lot of comments.  Some people argued that giving poor people cash will not “work” because they will spend it on consumption rather than on their children’s education, which is something we care about.  What do you have to say to that?

Jishnu:  I don’t think the question “does giving cash to poor people work?” is well-defined.  It can only be answered in the negative if we (the donors who give the cash) impose our preferences and judge what poor people spend on relative to those preferences.  But if we give poor people cash so they will be better off, then—by definition—they are better off, regardless of how they choose to spend the extra money.

A Basic Need to Help Children

Alassane Sow's picture

Alassane Sow, World Bank Country Manager for Cambodia, and Rana Flowers, UNICEF Representative to Cambodia, wrote an op-ed for The Phnom Penh Post. Read the op-ed below, courtesy of The Phnom Penh Post.

Did you know that in communities where a high proportion of people defecate outdoors, children are on average shorter than children living in communities where most people use toilets?

Provocative Voices: Profiles in Blogging

Uwimana Basaninyenzi's picture

Inspired. That's how I felt after reading Profiles in Blogging, a new report published by the Center for International Media Assistance that examines how bloggers around the world practice their craft. Christopher Connell, an independent writer, editor, and photographer who was also former bureau chief for the Associated Press in Washington, provides a window into the experience of eight bloggers from Nepal, Saudi Arabia, Cambodia, Ghana, Yemen, Philippines, China, and Cuba. He provides an interesting narrative about each blogger, noting their important role in filling information gaps and their evolution into influential bloggers. He also examines how these bloggers find their audiences, the obstacles they face in practicing their craft, and, most inspiring (as least in my view), what motivates them.

Could the Next Batman Film Be Animated In Cambodia?

Martin Molinuevo's picture

//www.youtube.com/watch?v=pN-UTn1DoSwAnimation schools in Cambodia are using the power of international trade to reach the poor. In recent years, a number of institutions have emerged to train young Khmers how to draw the characters used in advertisements, cartoons and films. One of the institutes is run by a French school whose graduates have worked on blockbusters such as the Harry Potter, Shrek and Batman movies. These schools are tapping into a multi-billion-dollar global industry and demonstrating Cambodia’s potential to engage in high-tech services trade. They also confirm that small firms and even community-led projects in LDCs can participate in trade in services, while helping children rise out of poverty.

Why Empowering Girls Is Key to Ending Poverty

Ravi Kumar's picture

Sokha, a skinny orphan girl in Cambodia used to pick through garbage to survive. But thanks to series of events, she was able to enroll in school and excel. Her tale is one of the nine inspiring stories in Girl Rising, a documentary that aims to raise awareness about the plight of girls in the developing world.

On April 18, Girl Rising was screened at the World Bank in Washington, D.C. in an event to give a greater momentum to girls’ education and empowerment. President Jim Yong Kim, UN Secretary-General Ban Ki-moon, Justine Greening, Secretary of State, International Development, UK, Holly Gordon, Executive Producer of Girl Rising, Frieda Pinto, an actress and Shabana Basij-Rasikh, Founder of SOLA, an organization hoping to expand education and leadership opportunities for Afghan women shared their thoughts on need of girls’ empowerment.

Watch the recap of the event:

Three Steps to Stop Kitchen Smoke from Killing More Women and Children

S. Vijay Iyer's picture

Photo Credit: Practical Action

I’m back from the 2013 Clean Cooking Forum in Phnom Penh, and impressed with the insights shared by practitioners and household fuel experts from around the world. It’s good to see clean cooking at the center of the global development agenda. But to live up to expectations, we’ll need to keep working hard.

From Water Pumps in Cambodia to Global Social Enterprise Support

Dougg Jimenez's picture

Combining the experience of running the DM2006 award winning social enterprise: Ideas-at-Work (IaW), the knowledge acquired with the Global Social Benefit Incubator (GSBI) program (2007), and her recent completion of an MBA (2012), Angelique Smit decided to found the Social Enterprise Support initiative, a network group that provides support and advice to fellow social entrepreneurs in a variety of areas.

Created after intense consultation with social entrepreneurs about their support needs in their path to build successful business models, Social Enterprise Support (SE-Support) emerged as a place where social entrepreneurs from all over the world find fellow social-minded entrepreneurs for a sounding board, bouncing ideas, brainstorming or advice.

Mobilizing a $100 Billion Market to Bring Clean Cooking Solutions to the Poor

S. Vijay Iyer's picture

Harmful fumes from a traditional outdoor wood stove, Lesotho

I’m on my way to Phnom Penh, Cambodia for the 2013 Clean Cooking Forum organized by the Global Alliance for Clean Cookstoves. Consider this stunning fact:  household air pollution from cooking with solid fuels kills four million people each year. That’s the finding of the latest Global Burden of Disease study, published in December 2012.

The Fight to End Wildlife Crime Is a Fight for Humanity

Valerie Hickey's picture

Available in ไทย

Elephants in Kenya. Curt Carnemark/World Bank

Elephant ivory is on the march. Not elephants, but their ivory. The elephants are left bloodied and dead on the range. So are many rangers who work to protect a country’s natural capital. In the past 10 years, over 1,000 rangers have been murdered in 35 countries alone; the International Ranger Federation tell us that as many as 5,000 may have been murdered worldwide in that time.
 

At the CITES COP – the Conference of the Parties to the Convention on International Trade in Endangered Species – the halls in Bangkok ring loud with concern for the elephants and other charismatic species, particularly rhinos, that are being exterminated across Africa in pursuit of private profit, at the expense of communities that rely on nature for their food, shelter, start-up capital, and safety net in a warming world.


So why should the World Bank care? Our concern is to build strong economies and healthy communities by revving the engine of inclusive green growth as we prepare countries and communities for the impacts of climate change.

What does this have to do with elephant ivory you ask? Simply put, we cannot achieve our dream of a world without poverty without taking account of the rise in wildlife crime.


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