World Bank2012-06-142012-06-142008-04https://hdl.handle.net/10986/8108The rural space is home to 53 percent of Nigeria's population and more than 70 percent of its poor. While it is well understood in Nigeria that financial exclusion of the rural population stunts development, still fewer than 2 percent of rural households have access to any sort of institutional finance. Access to financial services is a key ingredient to rural development: it increases incomes through productive investment, helps create employment opportunities, facilitates investments in health and education, and reduces the vulnerability of the poor by helping them to smooth their income patterns over time. A lack of rural access to financial services not only retards rural economic growth, but also increases poverty and inequality. While Nigeria's own long history with rural finance shows a clear appreciation for the importance of rural access, the persistent absence of sustainable access yields important lessons for the future.CC BY 3.0 IGOACCESS TO CREDITACCESS TO FINANCEACCESS TO FINANCIAL SERVICESACCESS TO FUNDSACCOUNTINGADVISORY SERVICESAFFORDABLE CREDITAGRICULTURAL COOPERATIVESAGRICULTURAL CREDITAGRICULTURAL DEVELOPMENT BANKAGRICULTURAL FINANCEAGRICULTURAL SECTORAGRICULTURE ORGANIZATIONASYMMETRIC INFORMATIONBANK ASSETSBANK BRANCHESBANK LENDINGBEST PRACTICEBORROWERBORROWINGCOLLATERALCOLLATERAL REQUIREMENTSCOMMERCIAL BANKCOMMERCIAL BANKINGCOMMERCIAL BANKSCOMMUNITY BANKCOMMUNITY BANKSCOMMUNITY DEVELOPMENTCOMMUNITY BANKSCONSUMERCONTRIBUTIONCONTRIBUTIONSCONVENTIONAL BANKSCOOPCOOPERATIVE BANKCREDIT ASSOCIATIONCREDIT ASSOCIATIONSCREDIT BUREAUSCREDIT CARDSCREDIT GUARANTEECREDIT INITIATIVESCREDIT OFFICERSCREDIT POLICIESCREDIT PORTFOLIOCREDIT PROGRAMSCREDIT PROVISIONCREDIT REGISTRYCREDIT SUPPORTCREDITSCREDIT PROGRAMSDEBTDELINQUENCYDELINQUENCY RATESDEMAND FOR SAVINGSDEPOSITDEPOSIT INSURANCEDEPOSIT MOBILIZATIONDEPOSITSDEVELOPMENT BANKDEVELOPMENT BANKSDEVELOPMENT FINANCEDEVELOPMENT FINANCE INSTITUTIONSDIVERSIFICATIONDOMESTIC CREDITECONOMIC AGENTSECONOMIC GROWTHEMPLOYMENT OPPORTUNITIESENTREPRENEURSEQUITY INVESTMENTFARMERFARMERSFINANCE INITIATIVESFINANCIAL DEPTHFINANCIAL DEVELOPMENTFINANCIAL DIFFICULTIESFINANCIAL EDUCATIONFINANCIAL EXCLUSIONFINANCIAL HEALTHFINANCIAL ILLITERACYFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL LITERACYFINANCIAL MARKETSFINANCIAL NEEDSFINANCIAL PROVIDERSFINANCIAL RESOURCESFINANCIAL SECTORFINANCIAL SECTORSFINANCIAL SERVICE PROVIDERSFINANCIAL SUSTAINABILITYFINANCIAL SYSTEMFINANCIAL SYSTEMSFINANCIAL VIABILITYFINANCING NEEDSFLEXIBLE LOANSFORMAL FINANCEFORMAL FINANCIAL INSTITUTIONSGOVERNMENT INTERVENTIONSGOVERNMENT POLICIESGROUP LENDINGGUARANTEE SCHEMEGUARANTEE SCHEMESHIGH INTEREST RATESHOUSEHOLDSINCOMEINCOMESINEQUALITYINFORMATION SYSTEMINSTITUTIONAL CAPACITYINSTITUTIONAL CAPACITY BUILDINGINSTITUTIONAL INVESTORSINSTITUTIONAL REFORMINSTITUTIONAL SUPPORTINSURANCE COMPANYINSURANCE SERVICESINTEREST RATEINTEREST RATESINTERNATIONAL BANKINVESTINGINVESTMENT SCHEMELACK OF ACCESSLACK OF INTERESTLENDERSLIBERALIZATION OF INTERESTLOANLOAN AMOUNTLOAN AMOUNTSLOAN APPLICATIONLOAN APPLICATIONSLOAN INSURANCELOAN PORTFOLIOLOAN PRODUCTSLOAN RECOVERYLOAN REPAYMENTLOAN SIZESLOW INCOMELOW INTEREST RATESLOWER INCOMEMARKET INFORMATIONMEDIUM ENTERPRISEMEDIUM ENTERPRISESMFIMFISMICRO LOANSMICRO-CREDITMICRO-CREDIT SCHEMEMICRO-ENTERPRISEMICRO-LENDINGMICROFINANCEMICROFINANCE INSTITUTIONMICROFINANCE INSTITUTIONSNEW INVESTORSOBSTACLES TO FINANCEOPERATING COSTSOPPORTUNITIES FOR SELF-EMPLOYMENTOUTREACHPARTNER BANKPOLICY ENVIRONMENTPOVERTY ALLEVIATIONPRO-POOR FINANCIAL SERVICESPROFITABILITYPROFITABLE INVESTMENTPROVISION OF CREDITRATES OF RETURNREAL ESTATEREMITTANCEREMITTANCESREPAYMENTREPAYMENT RATESREPAYMENTSRESPONSIBILITIESRETAIL BANKINGRISK PERCEPTIONRISK PERCEPTIONSRURAL ACCESSRURAL BANKINGRURAL BRANCHRURAL BRANCHESRURAL CREDITRURAL FINANCERURAL FINANCIAL ACCESSRURAL FINANCIAL INSTITUTIONRURAL FINANCIAL INSTITUTIONSRURAL FINANCIAL SERVICESALARYSAVERSSAVINGSSAVINGS ACCOUNTSAVINGS GROUPSSAVINGS PRODUCTSSAVINGS SERVICESSMALL BUSINESSSMALL BUSINESS FINANCESMALLHOLDERSMALLHOLDER FARMERSSMALLHOLDER PARTICIPATIONSMALLHOLDERSSOCIAL CAPITALSOURCE OF FUNDSSTAKEHOLDERSUBSIDIZATIONSUPPLY CHAINSUPPLY CHAINSTECHNICAL ASSISTANCETOTAL COSTTRANSACTIONTRANSACTION COSTSTREASURY BILLSUNIVERSAL BANKSURBAN AREASVALUABLEVILLAGEWAREHOUSEWAREHOUSE RECEIPTSWorld Bank10.1596/8108