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June 2012

Data Makes a Difference in Financial Inclusion

Leora Klapper's picture

These are exciting times in the world of financial inclusion. In the past few years, policymakers and private-sector leaders have made some bold and innovative moves to modernize financial infrastructures and expand financial access. Mobile money products have seen impressive growth in parts of Sub-Saharan Africa; bank agents are expanding access to underserved populations; and governments are increasingly disbursing payments via formal bank accounts.
Nevertheless, large challenges remains in the financial inclusion agenda: 76 percent of adults – almost 500 million people - in Sub-Saharan Africa remain outside the formal financial system and 36% of these unbanked report that having a formal account is too expensive. To continue moving forward we need to assess financial behavior and understand where the challenges and opportunities lie for the future. To do that, we need high-quality, multi-dimensional, comparable financial inclusion data.Savings groups are one of the ways people are saving money (Photo credit: mckaysavage, Flickr Creative Commons)

And so, in April the World Bank Development Research Group released the Global Findex, an individual-level dataset that measures how adults in 148 economies save, borrow, make payments, and manage risk. The Global Findex is just one of the foundations of the G20 Basic Set of Financial Inclusion Indicators that was formally proposed by the Global Partnership for Financial Inclusion (GPFI) in Los Cabos this week. 

It's All Connected: Landscape Approaches to Sustainable Development

Rachel Kyte's picture

Read this post in Español

China's Loess Plateau, before and after restoration through a landscape approach. Photos: Till Niermann, Wikimedia Commons (CC BY-SA 3.0), Erick Fernandes/World Bank.
China's Loess Plateau, before and after restoration through a landscape approach.
Photos: Till Niermann, Wikimedia Commons (CC), Erick Fernandes/World Bank.

Yesterday, I joked that I didn't want to come to another Agriculture and Rural Development Day. I wasn’t trying to be flip, and I was only half-joking, but not for the reasons you might think.

I said that we need to be coming to “Landscape Days” – where we have the foresters in the room with the farmer and with the fishers and with the producers and with everybody in the research community.

The bottom line is that we can't achieve food security, or nutrition security, without preserving the ecosystem services that forests provide. We can't sustain forests without thinking of how we will feed a growing population. And we can't grow food without water.

Dads and Moms

Markus Goldstein's picture

Yesterday, David argued that “the important work on trying to raise the incomes and status of women around the world doesn’t continue to come in part by neglecting the important role you [dads] play.” While I don’t think the world of development programs is in any remote danger of ignoring men in favor of women, I do think we aren’t paying enough attention to how men and women interact, and what that means for how programs work (e.g. to increase the welfare of all).

A Shout-Out for Ostrom

Maya Brahmam's picture

Elinor Ostrom, the only woman to be awarded the Nobel Prize for Economics died on June 12 in Indiana. According to various press reports, Ostrom shocked her peers when she was catapulted to fame, because, in a field mostly dominated by men, she reached well beyond the usual mathematical modeling of economists.

Ostrom’s best-known research was on the management of the commons. As noted in Slate, “Standard economic thinking about commons focuses on the idea of a ‘tragedy of the commons’…” According to many economists, individuals acting in their own self-interest, would ultimately deplete a resource like a common pasture, which is open to everyone. This idea was used to demonstrate the need for government regulation or control by private industry. 

What the Global Findex Database says about Africa

Asli Demirgüç-Kunt's picture

With the recent opening of a rural savings and credit cooperative, the people in Gebremichael’s Ethiopian village no longer have to save their money in pots or under the mattress at home. He and his neighbors are learning to use formal savings and credit systems.

We know that many in Sub-Saharan Africa have benefited from using the formal financial system, but exactly how many are using it to save, borrow, make payments and manage risk? 

With the release of the Global Financial Inclusion Indicators (Global Findex) we now have a comprehensive, individual-level, and publicly-available database that allows comparisons across 148 economies of how adults around the world manage their daily finances and plan for the future. The Global Findex database also identifies barriers to financial inclusion, such as cost, travel time, distance, amount of paper work, and income inequality.  Our new Working Paper offers an overview of Financial Inclusion in Africa.

Voluntarily Tying Government’s Hands: Civil Society Oversight of Procurement in Mongolia

Zahid Hasnain's picture

In June 2011, the Government of Mongolia amended the Public Procurement Law of Mongolia  (PPLM) to include a new formal role for civil society and professional organizations in bid evaluation and contract monitoring.

Lessons from Hackers

Julia Bucknall's picture

It’s been almost 8 months since the World Bank Group convened the first Water Hackathon.  The Water Hackathon brought nearly 1000 computer programmers in 10 cities around the world together to compete to build prototype solutions to challenges in water, including sanitation.  We had worked to help governments, utilities, civil society groups, World Bank experts, and citizens define their specific water problems.  Overall, more than 60 prototype solutions were built in response to the 113 water sector challenges defined.  Some

Aid composition and basic nutrition: Putting money where your mouth is?

José Alejandro Quijada's picture

The latest Global Monitoring Report analyzes the impact of recent food price spikes on the Millennium Development Goals (MDGs), paying particular attention to the negative consequences that temporary food price shocks may have on nutrition.

Nutritional outcomes are directly linked to the MDG on hunger (MDG 1.c) and indirectly to most of the remaining development targets, through its effects on cognitive skills of young children and consequently on human capital accumulation. Unfortunately, progress in fighting undernourishment is considerably lagging across nearly all developing regions (figure 1).


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