Publication:
Financial Inclusion: Lessons from World Bank Group Experience, Fiscal Years 2014–22

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dc.contributor.authorIndependent Evaluation Group
dc.date.accessioned2023-08-28T21:16:30Z
dc.date.available2023-08-28T21:16:30Z
dc.date.issued2023-08-28
dc.description.abstractThis evaluation explores how and with what effect the World Bank Group has supported financial inclusion for the microenterprises, poor households, women, and other excluded groups. Financial inclusion is defined as the use of financial services by individuals and firms. It encompasses financial access—owning an account—and the use of financial services. There has been an impressive growth in account ownership globally, from 55% of adults in 2014 to 71% in 2021, although usage is more limited as some accounts are inactive. Critically, both financial access and the use of financial services remain major challenges for microenterprises, poor households, women, and other excluded groups. The objective of the evaluation is to assess whether the Bank Group has been doing the right things and whether it has been doing things right on financial inclusion. The evaluation captures lessons from the World Bank’s experience supporting financial inclusion for microenterprises, poor households, women, and other excluded groups and updates a 2015 financial inclusion evaluation. The evaluation includes a retrospective look at the drive for universal financial access and examines progress and challenges in women’s access to financial services. The evaluation also assesses the Bank Group’s support for digital financial services as vehicles for financial inclusion. Finally, the report examines the World Bank’s response to COVID-19 as it relates to financial inclusion. The evaluation proposes three recommendations: (i) The World Bank and IFC should further encourage account use by underserved groups, including women and rural poor people, and emphasize this more in their strategies and projects. (ii) The World Bank and IFC should design and implement more comprehensive approaches that address constraints in the enabling environment for DFS to reach underserved and excluded groups. (iii) To enhance learning on what works to increase the beneficial use of financial services at the MPWEG, the World Bank and IFC should collect outcome data across different underserved and excluded groups, initially on a pilot basis.en
dc.identifierhttp://documents.worldbank.org/curated/en/099305408252329233/SECBOS0e6ff9a00040b4260bcdc9c154a7b
dc.identifier.doi10.1596/IEG184011
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40282
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank Group
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectFINANCIAL REFORM
dc.subjectFINANCIAL INCLUSION POLICY
dc.subjectINSTITUTIONAL REFORM
dc.subjectFINANCIAL SERVICES
dc.subjectASSESSMENT OF WORLD BANK EFFECTIVENESS
dc.titleFinancial Inclusionen
dc.title.subtitleLessons from World Bank Group Experience, Fiscal Years 2014–22en
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleFinancial Inclusion: Lessons from World Bank Group Experience, Fiscal Years 2014–22
okr.date.disclosure2023-08-25
okr.date.lastmodified2023-08-25T00:00:00Zen
okr.doctypeIEG Evaluation
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099305408252329233/SECBOS0e6ff9a00040b4260bcdc9c154a7b
okr.guid099305408252329233
okr.identifier.docmidSECBOS-e6ff9a0a-ee4c-4f04-b426-bcdc9c154a7b
okr.identifier.doi10.1596/IEG184011
okr.identifier.doihttp://dx.doi.org/10.1596/IEG184011
okr.identifier.externaldocumentum34150510
okr.identifier.internaldocumentum34150510
okr.identifier.report184011
okr.import.id1621
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099305408252329233/pdf/SECBOS0e6ff9a00040b4260bcdc9c154a7b.pdfen
okr.region.geographicalWorld
okr.topicPoverty Reduction::Poverty Impact Evaluation
okr.topicPoverty Reduction::Equity and Development
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicGender::Gender and Economic Policy
okr.unitIEG
okr.unitFin
okr.unitPS
okr.unitInfra & SD Eval Un (IEGFS)
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