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2014-12 Financial inclusion / SME financing and other financial services in emerging markets

posted Dec 23, 2014, 2:32 PM by Sakura Initiative   [ updated Jan 3, 2015, 3:18 AM by Ethi Ethics ]

Financial inclusion aims at availing the underserved people of the fundamental tools of economic self-determination, including savings, credit, insurance, payments, money transfer, and financial education.

About 2.5 billion adults, many out of them being micro and small entrepreneurs do not have access to affordable and quality financial services. In the Philippines, about 13 % of the unbanked borrow : 55 % from family or friends, 13 % from money-lenders, and 17 % from microfinance institutions (Mc Kinsey, 2010).

SMEs are a driving force of economic and social stability due to their quantitative impact on the national economy and the empirical effects of creating jobs fostering a competitive business environment, and expanding the industrial base. They can also help vitalize rural economies and play a pivotal role in promoting intraregional trade.

Sakura Initiative,
Dec 23, 2014, 2:32 PM
Ethi Ethics,
Jan 3, 2015, 3:18 AM