Do you know, a very large number of people, particularly women and youths, cannot get a formal loan because they don’t have any verifiable financial history?
Close to 2 billion people globally experience this and are unable to realize their full economic potential, even though the growth of micro, small and medium enterprises (SMEs) contributes significantly to job creation and equitable economic growth. Entrepreneurs can start building a financial history and seek to improve their business skills by using GFI. It promotes responsible lending and reduces over-indebtedness by lending to those who can repay.
Watch the video about measuring financial inclusion by The Global Findex Database, World Bank.