Closing the Gap with Financial Inclusion - Liveblog & webcast
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Closing the Gap with Financial Inclusion - Liveblog & webcast

Thursday April 19, 2012

Many of the world's poor are currently "unbanked."  This means that women in rural towns need to travel hundreds of miles to the nearest bank in order to safely receive money from overseas relatives.  This also means that farmers do not have insurance for their crops when floods and drought wipes out their earnings.  Without access to savings accounts, loans and remittances, people have a hard time managing their finances, coping with risks and disasters, and improving their economic opportunities. A new Global Financial Inclusion Database counts who is and isn't banked.

The G20 under the Mexico Presidency in 2012 has called for action through country commitments and action plans to significantly raise financial inclusion, and the World Bank can commit to support countries in turning those commitments into reality on the ground. If countries are serious about lifting their citizens out of poverty and protecting them from uncertainty, the "financial inclusion" gap must be closed. Everyone should have the ability to become financial citizens.

Replay the event as a distinguished panel of experts moderated by international journalist Femi Oke discussed how countries and citizens can make financial inclusion happen.

Robert Zoellick | President, The World Bank
Jose Antonio Meade | Minister of Finance, Mexico
Betty Mwangi | Chief of Financial Services, Safaricom
Peter Sands | Group Executive, Standard Chartered

Join Leora Klapper, a lead author of the new report "Measuring Financial Inclusion: The Global Findex Database", in a one hour live Question & Answer chat on May 2nd to discuss the revealing findings of this new report.

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Read what others are asking
What can this panel do to help me getting started a financial inclusion project around the trust built near farmers groups in Senegal, niger, burundi to name a few? Sorry for being blunt.. Demba
Chris Muflam
United States
What is the World Bank doing to support African institutions to educate the unbanked on the basics of money management and measures to fight the funding of terrorism and money laundering activities?
Dr. Sapovadia Vrajlal
To make eventually 'Financial inclusion' a success, it is necessary to determine factors at each level of hierarchy, who is critical for what? and to hit solution there. Should such hierarchy be developed and World Bank is having such research project?
Julia Modern
United Kingdom
Poor people need a range of financial services, often savings and insurance more than credit. But credit is most profitable and many microfinance institutions are reluctant to provide anything beyond a one-size-fits-all credit product. What can the World Bank do to push the sector beyond credit?
Polly Bagnall
How can we as individuals help? I was directed to your website when actually looking into the microloans having been sent a World Vision flyer. Please keep me posted, tell me what type of roles can be done remotely and in different time zones, as am happy to help voluntarily.
Christian Chileshe
Granted that financial inclusion is important from many dimensions. But there is growing evidence linking entrepreneurship development and sustainable financial inclusion.Why does it appear that there is so much less focus on it within the financial inclusion discussion?
Yvonne Manjjese
Microfinance seems to have created a dependancy syndrome on the poor how do we move from this position and get people out of the debt trap that microfinance has created. What can the World Bank do
South Africa
Financial inclusion begins with a citizen's trust in an institutions. How can the poor in developing countries trust the financial architecture that created the current mess, as rich countries actively prevent financial reforms of the governance framework?
Frazer Lang
United Kingdom
from @devmarkets countries can close the gap by harnessing remittances by educating recipients at the place where they collect money (financial institution). Can the World Bank work with other development agencies and the p sector to develop scalable and sustainable solutions in this area?
Raju Shrestha
Shouldn't financial education go hand in hand with any financial inclusion initiative?
Getaneh Gobezie
Financial inclusion should lead to empowerment of women, and gender equality. ....But in many cases, for those few where access to such services are created, gender relations worsen. What approaches need to be adopted to avoid such negative outcomes...??
Egypt, Arab Rep.
What are the biggest obstacles facing financial inclusion and can they be solved solely by microfinance institutions or is the help of non-financial institutions needed?
Karl Meyer
What about bitcoin?
neil burton
United Kingdom
Are regulations such as OFAC FATF FATCA optimal to balance between protecting global citizens from terrorism and crime, and helping financial inclusion and economic growth?
South Africa
Financial inclusion begins with a citizen's trust in financial institutions. How can the poor in developing countries trust the very architecture that created the financial mess, as rich countries actively prevent financial reforms of the governance framework?
Joshua Kibet
How is the Worldbank enhancing the use of mobile money transfer systems/saving systems, such as M-PESA in Kenya' to deepen/widen financial inclusion in poor countries.