This initiative aims to improve the uptake and usage of financial services by providing guidance to financial institutions on becoming more customer-centric. It will develop a "Guide to the Customer-Centric Business Model" to help institutions implement customer-centric practices such as understanding customer needs, empowering employees, and designing customer experiences. The guide will provide five pillars of a customer-centric model and go through iterations over five years. It will also look to empower customers with information and skills to select and use financial products and services effectively.
The document outlines the Gauteng Film Commission's (GFC) strategy to grow the film and audiovisual industry in Gauteng province, South Africa. The GFC seeks partnerships with private and public sectors to fund industry development initiatives focused on skills training, infrastructure, enterprise support, and content production and distribution. The goal is to contribute to economic growth and job creation through a sustainable local industry.
The document outlines a tender for a retirement and financial capability awareness campaign in Malta. It identifies several vulnerable groups that will be targeted, such as those in low-income employment, unemployed individuals, and disabled persons. It also notes groups that may be negatively affected by behavioral biases, like teenagers and young adults. The campaign will involve focus group research, TV and radio ads, billboards, printed handbooks, newspaper ads, and social media content tailored for each group. An implementation plan is provided, with actions spanning 2019 such as developing messages, conducting pre-and post-campaign research, and launching various advertising elements for priority vulnerable groups.
This document provides an overview of a research study conducted in Malta on financial literacy. The study was conducted as part of an international OECD study to assess financial literacy levels in Malta and enable benchmarking against other countries. Over 1,000 Maltese residents aged 18-79 participated in the survey. The study explored Maltese individuals' financial planning and management, savings behaviors, financial goals, and retirement planning. Key findings included that most Maltese adults make independent financial decisions but consult others, nearly half track spending but a third take no financial management initiatives, and nearly half lack retirement plans or confidence in their plans.
Final project week 4 accelerating digital financial services adoption in bang...Md. Ashraful Alam
This digital artifact has been prepared as part of the WBG group course on Unlocking Investment and Finance in Emerging Markets and Developing Economies (EMDEs) course
This 3-sentence summary provides the high-level information about the document:
The document outlines the 2017-2021 strategic plan of Tools for Self Reliance, an organization that empowers people in Africa to build sustainable livelihoods through vocational training and business support. The plan details Tools for Self Reliance's model, goals to expand successful programming, increase annual funding to £1 million by 2021, and share lessons learned to have greater impact on poverty reduction across Africa. Tools for Self Reliance aims to support over 1,200 people annually through expanded partnerships and in-country presence.
This document outlines a financial literacy project plan between AIESEC Ghana and Standard Chartered Bank. The project aims to educate 500 Ghanaian youth on financial skills like saving, budgeting, and investing. It will provide financial literacy sessions and entrepreneurship mentoring in 5 cities. 12 AIESEC members will be trained by Standard Chartered Bank to then train 25 interns, who will educate target groups of senior high school and university students as well as small business owners. The project seeks to address issues like lack of financial knowledge and skills that contribute to poverty among Ghanaian youth.
This document provides information about AIESEC Africa's "Africa in Me" strategy. The strategy aims to develop African youth leadership through AIESEC's programs. It outlines four areas of impact: career development, health improvement, economic development, and education. It describes pilot projects in each area from a 2013 conference. The strategy principles include focusing on the AIESEC experience, engaging participants, and ensuring financial sustainability. It provides an overview of AIESEC's presence and programs in Africa and links to supporting documents.
The document outlines the Gauteng Film Commission's (GFC) strategy to grow the film and audiovisual industry in Gauteng province, South Africa. The GFC seeks partnerships with private and public sectors to fund industry development initiatives focused on skills training, infrastructure, enterprise support, and content production and distribution. The goal is to contribute to economic growth and job creation through a sustainable local industry.
The document outlines a tender for a retirement and financial capability awareness campaign in Malta. It identifies several vulnerable groups that will be targeted, such as those in low-income employment, unemployed individuals, and disabled persons. It also notes groups that may be negatively affected by behavioral biases, like teenagers and young adults. The campaign will involve focus group research, TV and radio ads, billboards, printed handbooks, newspaper ads, and social media content tailored for each group. An implementation plan is provided, with actions spanning 2019 such as developing messages, conducting pre-and post-campaign research, and launching various advertising elements for priority vulnerable groups.
This document provides an overview of a research study conducted in Malta on financial literacy. The study was conducted as part of an international OECD study to assess financial literacy levels in Malta and enable benchmarking against other countries. Over 1,000 Maltese residents aged 18-79 participated in the survey. The study explored Maltese individuals' financial planning and management, savings behaviors, financial goals, and retirement planning. Key findings included that most Maltese adults make independent financial decisions but consult others, nearly half track spending but a third take no financial management initiatives, and nearly half lack retirement plans or confidence in their plans.
Final project week 4 accelerating digital financial services adoption in bang...Md. Ashraful Alam
This digital artifact has been prepared as part of the WBG group course on Unlocking Investment and Finance in Emerging Markets and Developing Economies (EMDEs) course
This 3-sentence summary provides the high-level information about the document:
The document outlines the 2017-2021 strategic plan of Tools for Self Reliance, an organization that empowers people in Africa to build sustainable livelihoods through vocational training and business support. The plan details Tools for Self Reliance's model, goals to expand successful programming, increase annual funding to £1 million by 2021, and share lessons learned to have greater impact on poverty reduction across Africa. Tools for Self Reliance aims to support over 1,200 people annually through expanded partnerships and in-country presence.
This document outlines a financial literacy project plan between AIESEC Ghana and Standard Chartered Bank. The project aims to educate 500 Ghanaian youth on financial skills like saving, budgeting, and investing. It will provide financial literacy sessions and entrepreneurship mentoring in 5 cities. 12 AIESEC members will be trained by Standard Chartered Bank to then train 25 interns, who will educate target groups of senior high school and university students as well as small business owners. The project seeks to address issues like lack of financial knowledge and skills that contribute to poverty among Ghanaian youth.
This document provides information about AIESEC Africa's "Africa in Me" strategy. The strategy aims to develop African youth leadership through AIESEC's programs. It outlines four areas of impact: career development, health improvement, economic development, and education. It describes pilot projects in each area from a 2013 conference. The strategy principles include focusing on the AIESEC experience, engaging participants, and ensuring financial sustainability. It provides an overview of AIESEC's presence and programs in Africa and links to supporting documents.
building capacity for a sustainable future 311014Aysa Tyumenova
The document discusses ICAEW's work in building the accounting capacity of developing countries. It notes that diagnostic reviews by organizations like the World Bank have found weak capacity in national accountancy professions. ICAEW aims to address these gaps by partnering with national professional associations to strengthen areas like standards, regulation, training, and organizational strategy. Specific projects mentioned include work in countries like Nigeria, Sri Lanka, Ghana, Malawi, Jordan, and Myanmar to help modernize qualifications, improve audit quality, and foster sustainable national institutions.
Policy Brief No1: Re-Imagining the UN JPO Program in NigeriaYouthHubAfrica
By October 2015, it will be 3years that the Federal Government of Nigeria signed a MoU with the United Nations on the Junior Professionals Officers Program. The initiative, designed to sponsor 37 young Nigerians to be deployed in UN offices globally for 1year, despite having received budgetary allocations of 2.1 billion Naira, has no single beneficiary till date
In 2012, ILRI developed a new strategy for the period 2013 2022. Articulated in the tagline better lives through livestock, it incorporates several changes from the previous strategy, moving from a focus on livestock as a pathway out of poverty to a broader agenda that addresses poverty and food security in ways that are environmentally sustainable, good for human health and nutrition, and equitable.
The document provides information about the 6th IFAD Regional Forum being held in Libreville, Gabon from November 14-17, 2011. The forum's central theme is "Making Small Farms in West and Central Africa More Productive and Profitable". Over 250 participants from projects, governments, organizations and IFAD are expected to attend and participate in sessions on lessons learned from partnerships with farmer organizations, country communication approaches, and the project portfolio. The forum aims to facilitate knowledge sharing and developing action plans to improve agricultural investments and smallholder outcomes in the region.
The document outlines the Medium Term Development Plan for Philippine cooperatives from 2011-2016. It establishes 6 policy directions to strengthen cooperatives over this period: 1) Strengthen the Cooperative Development Authority; 2) Provide an enabling environment for cooperatives; 3) Ensure local and global competitiveness; 4) Promote cooperativism as a vehicle for social transformation; 5) Massively expand cooperative membership; and 6) Develop cooperative human resources. The plan aims to develop a strong, sustainable, and empowered cooperative sector in the Philippines.
The document provides an overview of the DSP World Agriculture Fund, which invests in the BlackRock Global Funds - World Agriculture Fund. It discusses the nutrition investment theme and why it is an attractive area for investment given changing consumer preferences and spending trends. It outlines the drivers of change in nutrition, including regulation, economics, and society. It then provides details on the BlackRock Global Funds Nutrition Fund strategy and portfolio positioning, highlighting its focus on long-term structural winners, cyclicals, and new markets/disruptors. It also discusses how the fund integrates environmental, social, and governance factors into the research and investment process.
This document discusses advancing financial inclusion through financial education in Pakistan. It outlines that financial literacy encompasses knowledge, skills, and attitudes to understand personal finance. While access to financial services has increased in Pakistan, lack of financial literacy remains a barrier to effective use. The State Bank of Pakistan is taking a three-pronged approach - regulatory provisions for financial institutions, supply-side industry initiatives, and demand-side capacity building - to improve financial literacy in the country through programs like the National Financial Literacy Program. The goal is to educate the public about financial concepts and empower them to make informed financial decisions.
The document discusses trends in corporate sustainability reporting based on WBCSD's analysis of 163 company reports from 2016 and 113 reports from 2013 to 2016. Some key findings include:
- 80% of reporters in 2016 used the GRI G4 guidelines, up from 25% in 2014.
- Reporting is improving over time, with 76% of companies increasing their overall score since 2013 and 40% improving materiality disclosures.
- Integrated reporting is becoming more common, with 13% of 2016 reports classified as integrated reports, up from 8% in 2013.
- Human rights reporting is an emerging issue as frameworks like the UK Modern Slavery Act and the Corporate Human Rights Benchmark take effect.
New alliance overview (cape town retreat) finalNATEAM
The document provides an overview and background information on the New Alliance for Food Security and Nutrition. Some key points:
- The New Alliance is a partnership between African governments, private sector, and development partners committed to agricultural development in Africa.
- Progress updates show that most governments have made progress on policy commitments, and development partners have disbursed over half of intended funds. Private sector investments through Letters of Intent are on track in most countries.
- The objective of the new New Alliance Operating Unit is to provide coordination and support to help oversee and increase the effectiveness and sustainability of New Alliance implementation across partner countries.
- The Unit will be staffed by 3 people and will undertake activities like country
Reforms and Innovations in Government BudgetingGilda Galangue
The document discusses reforms and innovations in government budgeting in the Philippines. It outlines the Public Financial Management (PFM) Reform Program which aims to improve transparency, accountability, and financial management processes through the Government Integrated Financial Management Information System (GIFMIS) and other key projects. The objectives of PFM reforms by 2016 are also summarized, which include real-time budget monitoring, consolidated financial reporting, and improved cash management.
We are pleased to submit a Project that is innovative for both the methodological approach and the modalities of intervention and refer to the below “factors of change”:
A) The new orientations on the theme of poverty eradication,
B) The release (2010) of the Document on microfinance within Basel III
C) The financial crisis in 2007-08, which effects are still ongoing
D) The increasing integration among financial circuits
E) The intervention of the central banks to regulate the microfinance market.
In particular, we have elaborated on above points (A) and (B) and worked out a model to make sustainable the supply of financial and non-financial services and in so doing differentiate micro credit, micro grant, and micro aid, which sources of capital and decision making process should be different and possibly carried out in different “hubs”.
IN-HOUSE SEMINAR is neither training, nor course of lessons, nor technical assistance; it is a Colloquium that is the best way to deal with management and policy matters for both speaker and participants because the former can focus on specific and practical subjects and the latter can discuss the house’s problems and consequently have the opportunity to talk about their own business.
Shared Prosperity through Strategic Community Investment: An IFC perspective ...Cairn India Limited
The document discusses IFC's perspective on strategic community investment to promote shared prosperity. IFC is the private sector arm of the World Bank Group and aims to reduce poverty through private sector development. The document outlines IFC's approach to strategic community investment, which involves voluntary contributions by companies to help communities address development priorities in a way that also supports business objectives. It provides examples of effective community investment programs and tools used by IFC to evaluate programs and their financial and social impacts, including a financial valuation tool and geomapping tool. The document concludes with good practice principles for strategic community investment.
Outcome-based conditionality: To good to be trueEuforic Services
by Nuria Molina-Gallart (Eurodad), at Eurodad and German Marshall Fund roundtable on the 29. Jan 2008 in Brussels to discuss the forthcoming Eurodad report on outcome-based conditionality.
Policies, Institutions, and Markets: The First Eighteen MonthsIFPRI-PIM
"PIM’s evolution over its first 18 months has resulted in greater strategic focus and has strengthened its orientation toward results and impact."
Release date: November 2013.
Financial Freedom Index - Platform WorkersVarun Mittal
Launched Financial Freedom Index - Platform Workers researching 500 platform workers and key platforms like Grab, Gojek, Deliveroo, and Foodpanda bringing their opinions, insights, and recommendations to support platform and gig workers achieve better financial inclusion.
BlueOrchard Finance SA - Social Performance Report 2013Jeanette Wichmann
In BlueOrchard’s fourth annual Social Performance Report,
we review the Social Performance Objectives that we as a
company have defined for 2013/2014 and provide concrete
examples of how these objectives are being pursued through
our daily activities, the products we create for our investors,
and the microfinance institutions in which we invest.
Expanding the access to financial pr oducts for micro entrepreneurs and small businesses; Empowering them to
manage their own financial future and improve their families’
well-being; Supporting the healthy development of the
communities in which they live. This is what microfinance
is all about, and the ability to achieve these outcomes is what
social performance management aims to assess.
Throughout the microfinance industry, there has been significant progress made to make social performance management more systematic and concrete. The Universal Standards for Social Performance Management that were released in 2012 developed benchmarks and yardsticks against which performance can be assessed.
We, at BlueOrchard have been actively involved
in such industry initiatives and continue to support these
developments. But it is not enough to say one wants to make
a difference: by setting specific objectives, we aim to define
and illustrate how BlueOrchard works to make that difference,
helping in developing a sustainable, inclusive financial system
worldwide.
Credit availability in Canada 2014: Targeting an ideal capital structurelbobak
The majority of Canadian financial executives surveyed by the Canadian Financial Executives Research Foundation are more optimistic about their company’s ability to obtain sufficient capital to meet its financing requirements in the next year (whether these needs are short-term, long-term or equity based). Most financial executives surveyed said credit for working capital and growth financing is generally available to their organizations, according to the study, which was published by the research arm of Financial Executives International Canada (FEI Canada), and sponsored by EY. The report, entitled Targeting an ideal capital structure, is based on the results of an online survey of financial executives across Canada, which took place in June 2014. According to the study, even those for whom credit was less available this year, the expectation is availability will improve by the spring of 2015.
We funded a formal academic evaluation to support Toynbee Hall’s Money Mentors Programme in Tower Hamlets, an initiative aimed at improving participants’ financial confidence, increasing their financial capability and reducing financial exclusion. Toynbee Hall is a community organisation that pioneers ways to reduce poverty and disadvantage. Based in the East End of London it has been a catalyst for social reform in the UK for almost 130 years giving some of the country’s most deprived communities a voice, providing access to free advice and support services and working to tackle social injustice.
This document is a project report submitted by Syed Gulam Abbas Abdi for an Executive Post Graduate Diploma in Management from Symbiosis Institute of Management Studies in Pune, India in August 2014. The report studies financial inclusion in Uganda, focusing on four pillars: financial literacy, financial consumer protection, financial innovations, and financial services data and measurement. It provides an overview of each pillar, including the Bank of Uganda's strategy for financial literacy in Uganda and its financial consumer protection guidelines.
This document summarizes Pakistan's financial inclusion landscape and national financial literacy program. It provides key facts about Pakistan's population, economy, and current level of financial inclusion being around 15-20%. Pakistan's financial inclusion objectives include developing diverse financial products and expanding access points through digital tools and bulk payments. The State Bank of Pakistan has launched a nationwide financial literacy program to educate 50,000 adults on basic financial topics, with plans to scale up and include children. Low financial literacy is identified as a major constraint, with over 40% of the excluded population lacking product understanding and over half of adults using informal savings methods.
The document summarizes lessons learned from some of IFC's past projects in Sub-Saharan Africa. It discusses four projects and what IFC expected from each, what actually happened, and the key lessons learned. The lessons indicate that factors like limited client commitment, lack of local presence, overly ambitious targets, and inability to adapt to changing conditions can impact project success. Ensuring strong client capacity, stakeholder buy-in, flexible timelines, and responsiveness to the local context are important for projects to achieve their goals.
building capacity for a sustainable future 311014Aysa Tyumenova
The document discusses ICAEW's work in building the accounting capacity of developing countries. It notes that diagnostic reviews by organizations like the World Bank have found weak capacity in national accountancy professions. ICAEW aims to address these gaps by partnering with national professional associations to strengthen areas like standards, regulation, training, and organizational strategy. Specific projects mentioned include work in countries like Nigeria, Sri Lanka, Ghana, Malawi, Jordan, and Myanmar to help modernize qualifications, improve audit quality, and foster sustainable national institutions.
Policy Brief No1: Re-Imagining the UN JPO Program in NigeriaYouthHubAfrica
By October 2015, it will be 3years that the Federal Government of Nigeria signed a MoU with the United Nations on the Junior Professionals Officers Program. The initiative, designed to sponsor 37 young Nigerians to be deployed in UN offices globally for 1year, despite having received budgetary allocations of 2.1 billion Naira, has no single beneficiary till date
In 2012, ILRI developed a new strategy for the period 2013 2022. Articulated in the tagline better lives through livestock, it incorporates several changes from the previous strategy, moving from a focus on livestock as a pathway out of poverty to a broader agenda that addresses poverty and food security in ways that are environmentally sustainable, good for human health and nutrition, and equitable.
The document provides information about the 6th IFAD Regional Forum being held in Libreville, Gabon from November 14-17, 2011. The forum's central theme is "Making Small Farms in West and Central Africa More Productive and Profitable". Over 250 participants from projects, governments, organizations and IFAD are expected to attend and participate in sessions on lessons learned from partnerships with farmer organizations, country communication approaches, and the project portfolio. The forum aims to facilitate knowledge sharing and developing action plans to improve agricultural investments and smallholder outcomes in the region.
The document outlines the Medium Term Development Plan for Philippine cooperatives from 2011-2016. It establishes 6 policy directions to strengthen cooperatives over this period: 1) Strengthen the Cooperative Development Authority; 2) Provide an enabling environment for cooperatives; 3) Ensure local and global competitiveness; 4) Promote cooperativism as a vehicle for social transformation; 5) Massively expand cooperative membership; and 6) Develop cooperative human resources. The plan aims to develop a strong, sustainable, and empowered cooperative sector in the Philippines.
The document provides an overview of the DSP World Agriculture Fund, which invests in the BlackRock Global Funds - World Agriculture Fund. It discusses the nutrition investment theme and why it is an attractive area for investment given changing consumer preferences and spending trends. It outlines the drivers of change in nutrition, including regulation, economics, and society. It then provides details on the BlackRock Global Funds Nutrition Fund strategy and portfolio positioning, highlighting its focus on long-term structural winners, cyclicals, and new markets/disruptors. It also discusses how the fund integrates environmental, social, and governance factors into the research and investment process.
This document discusses advancing financial inclusion through financial education in Pakistan. It outlines that financial literacy encompasses knowledge, skills, and attitudes to understand personal finance. While access to financial services has increased in Pakistan, lack of financial literacy remains a barrier to effective use. The State Bank of Pakistan is taking a three-pronged approach - regulatory provisions for financial institutions, supply-side industry initiatives, and demand-side capacity building - to improve financial literacy in the country through programs like the National Financial Literacy Program. The goal is to educate the public about financial concepts and empower them to make informed financial decisions.
The document discusses trends in corporate sustainability reporting based on WBCSD's analysis of 163 company reports from 2016 and 113 reports from 2013 to 2016. Some key findings include:
- 80% of reporters in 2016 used the GRI G4 guidelines, up from 25% in 2014.
- Reporting is improving over time, with 76% of companies increasing their overall score since 2013 and 40% improving materiality disclosures.
- Integrated reporting is becoming more common, with 13% of 2016 reports classified as integrated reports, up from 8% in 2013.
- Human rights reporting is an emerging issue as frameworks like the UK Modern Slavery Act and the Corporate Human Rights Benchmark take effect.
New alliance overview (cape town retreat) finalNATEAM
The document provides an overview and background information on the New Alliance for Food Security and Nutrition. Some key points:
- The New Alliance is a partnership between African governments, private sector, and development partners committed to agricultural development in Africa.
- Progress updates show that most governments have made progress on policy commitments, and development partners have disbursed over half of intended funds. Private sector investments through Letters of Intent are on track in most countries.
- The objective of the new New Alliance Operating Unit is to provide coordination and support to help oversee and increase the effectiveness and sustainability of New Alliance implementation across partner countries.
- The Unit will be staffed by 3 people and will undertake activities like country
Reforms and Innovations in Government BudgetingGilda Galangue
The document discusses reforms and innovations in government budgeting in the Philippines. It outlines the Public Financial Management (PFM) Reform Program which aims to improve transparency, accountability, and financial management processes through the Government Integrated Financial Management Information System (GIFMIS) and other key projects. The objectives of PFM reforms by 2016 are also summarized, which include real-time budget monitoring, consolidated financial reporting, and improved cash management.
We are pleased to submit a Project that is innovative for both the methodological approach and the modalities of intervention and refer to the below “factors of change”:
A) The new orientations on the theme of poverty eradication,
B) The release (2010) of the Document on microfinance within Basel III
C) The financial crisis in 2007-08, which effects are still ongoing
D) The increasing integration among financial circuits
E) The intervention of the central banks to regulate the microfinance market.
In particular, we have elaborated on above points (A) and (B) and worked out a model to make sustainable the supply of financial and non-financial services and in so doing differentiate micro credit, micro grant, and micro aid, which sources of capital and decision making process should be different and possibly carried out in different “hubs”.
IN-HOUSE SEMINAR is neither training, nor course of lessons, nor technical assistance; it is a Colloquium that is the best way to deal with management and policy matters for both speaker and participants because the former can focus on specific and practical subjects and the latter can discuss the house’s problems and consequently have the opportunity to talk about their own business.
Shared Prosperity through Strategic Community Investment: An IFC perspective ...Cairn India Limited
The document discusses IFC's perspective on strategic community investment to promote shared prosperity. IFC is the private sector arm of the World Bank Group and aims to reduce poverty through private sector development. The document outlines IFC's approach to strategic community investment, which involves voluntary contributions by companies to help communities address development priorities in a way that also supports business objectives. It provides examples of effective community investment programs and tools used by IFC to evaluate programs and their financial and social impacts, including a financial valuation tool and geomapping tool. The document concludes with good practice principles for strategic community investment.
Outcome-based conditionality: To good to be trueEuforic Services
by Nuria Molina-Gallart (Eurodad), at Eurodad and German Marshall Fund roundtable on the 29. Jan 2008 in Brussels to discuss the forthcoming Eurodad report on outcome-based conditionality.
Policies, Institutions, and Markets: The First Eighteen MonthsIFPRI-PIM
"PIM’s evolution over its first 18 months has resulted in greater strategic focus and has strengthened its orientation toward results and impact."
Release date: November 2013.
Financial Freedom Index - Platform WorkersVarun Mittal
Launched Financial Freedom Index - Platform Workers researching 500 platform workers and key platforms like Grab, Gojek, Deliveroo, and Foodpanda bringing their opinions, insights, and recommendations to support platform and gig workers achieve better financial inclusion.
BlueOrchard Finance SA - Social Performance Report 2013Jeanette Wichmann
In BlueOrchard’s fourth annual Social Performance Report,
we review the Social Performance Objectives that we as a
company have defined for 2013/2014 and provide concrete
examples of how these objectives are being pursued through
our daily activities, the products we create for our investors,
and the microfinance institutions in which we invest.
Expanding the access to financial pr oducts for micro entrepreneurs and small businesses; Empowering them to
manage their own financial future and improve their families’
well-being; Supporting the healthy development of the
communities in which they live. This is what microfinance
is all about, and the ability to achieve these outcomes is what
social performance management aims to assess.
Throughout the microfinance industry, there has been significant progress made to make social performance management more systematic and concrete. The Universal Standards for Social Performance Management that were released in 2012 developed benchmarks and yardsticks against which performance can be assessed.
We, at BlueOrchard have been actively involved
in such industry initiatives and continue to support these
developments. But it is not enough to say one wants to make
a difference: by setting specific objectives, we aim to define
and illustrate how BlueOrchard works to make that difference,
helping in developing a sustainable, inclusive financial system
worldwide.
Credit availability in Canada 2014: Targeting an ideal capital structurelbobak
The majority of Canadian financial executives surveyed by the Canadian Financial Executives Research Foundation are more optimistic about their company’s ability to obtain sufficient capital to meet its financing requirements in the next year (whether these needs are short-term, long-term or equity based). Most financial executives surveyed said credit for working capital and growth financing is generally available to their organizations, according to the study, which was published by the research arm of Financial Executives International Canada (FEI Canada), and sponsored by EY. The report, entitled Targeting an ideal capital structure, is based on the results of an online survey of financial executives across Canada, which took place in June 2014. According to the study, even those for whom credit was less available this year, the expectation is availability will improve by the spring of 2015.
We funded a formal academic evaluation to support Toynbee Hall’s Money Mentors Programme in Tower Hamlets, an initiative aimed at improving participants’ financial confidence, increasing their financial capability and reducing financial exclusion. Toynbee Hall is a community organisation that pioneers ways to reduce poverty and disadvantage. Based in the East End of London it has been a catalyst for social reform in the UK for almost 130 years giving some of the country’s most deprived communities a voice, providing access to free advice and support services and working to tackle social injustice.
This document is a project report submitted by Syed Gulam Abbas Abdi for an Executive Post Graduate Diploma in Management from Symbiosis Institute of Management Studies in Pune, India in August 2014. The report studies financial inclusion in Uganda, focusing on four pillars: financial literacy, financial consumer protection, financial innovations, and financial services data and measurement. It provides an overview of each pillar, including the Bank of Uganda's strategy for financial literacy in Uganda and its financial consumer protection guidelines.
This document summarizes Pakistan's financial inclusion landscape and national financial literacy program. It provides key facts about Pakistan's population, economy, and current level of financial inclusion being around 15-20%. Pakistan's financial inclusion objectives include developing diverse financial products and expanding access points through digital tools and bulk payments. The State Bank of Pakistan has launched a nationwide financial literacy program to educate 50,000 adults on basic financial topics, with plans to scale up and include children. Low financial literacy is identified as a major constraint, with over 40% of the excluded population lacking product understanding and over half of adults using informal savings methods.
The document summarizes lessons learned from some of IFC's past projects in Sub-Saharan Africa. It discusses four projects and what IFC expected from each, what actually happened, and the key lessons learned. The lessons indicate that factors like limited client commitment, lack of local presence, overly ambitious targets, and inability to adapt to changing conditions can impact project success. Ensuring strong client capacity, stakeholder buy-in, flexible timelines, and responsiveness to the local context are important for projects to achieve their goals.
Developing an inclusive policy on Microinsurance Regulation: The Kasagana-ka ...ICMIF Microinsurance
This presentation was delivered by Ms Maria Anna Ignacio (Executive Director at KDCI/ KMBA, The Philippines) at the ICMIF-AOA Development Network Seminar (18-20 September 2013; Manila, The Philippines)
COPIE Action Plan: 7 steps to promote inclusive entrepreneurshipOECD CFE
The 7-step COPIE action plan provides guidance for promoting inclusive entrepreneurship through the next round of European Structural Funds. The steps include: 1) obtaining information on entrepreneurship programs; 2) following an integrated policy approach; 3) ensuring high-quality startup support; 4) integrating different service providers; 5) supporting microcredit; 6) promoting skills development and entrepreneurship education; and 7) raising awareness of inclusive entrepreneurship benefits. The plan recommends collecting feedback, engaging stakeholders, developing quality standards, mapping resources, exploiting microfinance opportunities, investing in teacher training, and disseminating good practices.
Pilotlight provides strategic support to charities and social enterprises through coaching and mentoring from business professionals. A survey of organizations that completed Pilotlight's program in 2014 found:
- 100% of CEOs reported a positive impact on strategic vision immediately following the program
- 93% reported improved financial management two years later
- 81% reported more effective services two years later
The program also had benefits for participating business mentors, with 89% reporting an increased sense of well-being and 96% having a better understanding of social challenges. Pilotlight aims to improve organizational effectiveness and sustainability over the long-term.
This document provides guidance on pilot testing financial and non-financial services for youth in sub-Saharan Africa based on lessons learned from UNCDF's YouthStart program. It discusses key considerations for planning a pilot test, including forming a pilot team, setting objectives, developing appropriate policies and procedures, and monitoring progress. It also outlines best practices and challenges from implementing the pilots, such as effective marketing, flexible product design, and ensuring staff and partner coordination. The goal is to help other organizations improve financial inclusion for youth through well-planned and executed pilot programs.
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El núcleo los humanos y las leyes félix ovejero. la libertad inhóspitaJorge Almeyda Candioti
Este documento resume las ideas principales del Capítulo 1 del libro "La libertad inhóspita" de Félix Ovejero. Explora el paradigma liberal clásico de individuos egoístas en sociedad y los modelos humanos subyacentes de homo animalis y homo oeconomicus. También discute cómo las visiones pesimistas de la naturaleza humana no necesariamente conducen a conclusiones pesimistas sobre la sociedad, señalando que la cooperación y las instituciones pueden minimizar los efectos de rasgos humanos menos deseables.
Derechos humanos y su relación con los derechos fundamentales y constituciona...Jorge Almeyda Candioti
Este documento discute la relación entre los derechos humanos, derechos fundamentales y derechos constitucionales. Argumenta que estos tres conceptos a menudo se usan indistintamente pero tienen importancias distintas. También explora la noción de dignidad humana y cómo esta se relaciona con los derechos humanos. Finalmente, propone que el concepto de "necesidades básicas" podría usarse para fundamentar y definir mejor los derechos humanos.
éTica, la moral y los derechos humanos aproximaciones a la ética deontológica...Jorge Almeyda Candioti
Este documento resume un artículo académico sobre la ética, la moral y los derechos humanos según la perspectiva del filósofo Jürgen Habermas. En particular, explora las aproximaciones deontológicas de Habermas y su filosofía del Estado y el sistema de derechos. En menos de 3 oraciones, el documento analiza la importancia de los derechos humanos, la evolución moral e histórica que ha dado forma a los parámetros de conducta humana, y la filosofía de Habermas sobre el derecho y el poder
Este documento resume la controversia entre Cambridge, Massachusetts y Cambridge, Reino Unido sobre la teoría del capital. Analiza esta controversia a la luz de las visiones epistemológicas de Thomas Kuhn, Karl Popper y Paul Feyerabend, evaluando su poder explicativo. Aborda temas como la medición del capital, la función de producción agregada, y las implicancias de esta controversia para la comunidad económica y la enseñanza de la economía.
This document summarizes a study on interindustry R&D spillovers and their effects on production costs and factor demands in five high-tech industries from 1958-1981. The key findings are:
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2. OUR VISION . . .
a world where everyone
has access to and can use
the financial services
they need to improve
their lives
2
3. CONTENTS Letter from the CEO
Poor People and Financial Security
Policy Makers Are Stepping Up
When Given Opportunities . . .
Strong Global Tailwinds
Components of Market Acceleration
CGAP V: Recommitment and Priorities
OUR STRATEGY
CUSTOMERS AT THE CENTER
GRADUATING THE EXTREME POOR
INNOVATING FOR SMALLHOLDERS
INCLUSIVE PAYMENT ECOSYSTEMS
PRODUCTS BEYOND PAYMENTS
DIGITAL FINANCE PLUS
GLOBAL POLICY ARCHITECTURE
PROTECTING CUSTOMERS
GUIDANCE FOR FUNDERS
MEASURING MARKET DEVELOPMENT
Regional Representation
Knowledge Products Dissemination
and Community Building
GOVERNANCE STRUCTURE
CGAP’S FINANCIAL
POSITION
Staff
3
4. LETTER FROM THE CEO When I joined CGAP in 2010, the narrower field of microfinance was in crisis.
A first set of randomized-controlled impact studies focused on microcredit had
cast doubt on its effectiveness. Several local market over-indebtedness crises
had exposed the downsides of rapid, credit-only expansion.
As a broader field, we have come a long way since then. A new, wider set of impact
evidence has shown a more nuanced picture and affirmed that inclusive financial
systems that reach all citizens in a responsible fashion on balance improve household
welfare, support economic growth, and reduce inequality. We have refocused on
the central premise that financial inclusion is a means to an end and must help poor
people improve their lives. A host of world leaders from the G20 to the World Bank
President and, most importantly, from a large number of emerging markets and
developing countries themselves, have embraced and begun to lead the global
financial inclusion agenda. We have seen a number of new, often technology-
enabled models at scale reaching poor households in the informal economy
with a broader range of services at lower costs.
CGAP played an important and meaningful role in shaping these positive
developments. In 2014, CGAP started executing against a new five-year
strategy and operationalized our new set of priorities at the frontiers of our
field in a portfolio of specific multi-year initiatives—each with an impact thesis
and expected market development outcomes. We are grateful for the continued
strong support of the CGAP members, partners, and wider set of stakeholders.
This annual report covers the first year of CGAP’s new five-year strategy and its
portfolio of initiatives. To mark this new phase, we have changed the format of this
report to be shorter and interactive, with links to various materials from publications
to videos to allow the reader to go deeper and explore more detail at their own pace.
We hope you enjoy this experience.
Tilman Ehrbeck
CGAP CEO
4
5. ~50–60%
with informal jobs
(FINSCOPE)
POOR PEOPLE AND
FINANCIAL SECURITY
As confirmed by a range of research,
today, half of the world remains
excluded from formal financial security.
Thus, the vast majority of poor families
in developing countries have to fend for
themselves in the informal economy—
not by choice, but by necessity.
And for that, they need financial
access because one determining
factor of poverty is lack of opportunity.
40+%
below $2 per day
(World Bank)
50+%
without a formal
financial account
(Global FINDEX)
~50%
without any
social security
coverage
(ILO)
5
7. BRAC and the researchers randomized the roll-out of this
program across 1,200 communities in three waves. And the
families in the communities reached later served as the
control group to those who got access earlier.
On average—after four years—participants had 38 percent higher
incomes than the control group, and these higher incomes trans-
lated into better health and education indicators for their children.
The underlying household survey data tell the story of what
happened to the participants in the Graduation Program.
They seized the opportunity to work more
They split their extra income between higher
consumption of essentials and savings.
And they started investing—essentially they stopped
being dependent, occasional, daily wage laborers,
and they started mimicking the occupational choices
of the rural middle class.
Control
Group
Graduation
Program
Earnings fours years after
program end (IN TAKA)
THE GRADUATION PROGRAM—
just one example of opportunities
spurring change
38%
7
1HIGHLIGHT
2HIGHLIGHT
3HIGHLIGHT
8. Policy makers know they need to foster formal econ-
omic growth in the long term, but they also know that
subsistence self-employment and informality will continue
to characterize their countries for the foreseeable future.
This is why they have embraced financial inclusion as
part of a broader, inclusive, domestic growth agenda.
And many are making progress. Here are Finscope
sample data from Africa.
2006 2009
KENYA
26
41
28 29
21
42
16
57
2006 2009
UGANDA
2008 2012
RWANDA
2009 2013
TANZANIA
Populations served by formal
institutions (%)
HIGHLIGHTS
Real progress is being made, and
southern countries have emerged as
leaders in financial inclusion.
The use of informal financial
services rose in parallel—
particularly in Uganda.
A common trend is a growing
importance of nontraditional players;
Rwanda, for example, sponsored
SACCOs in every district.
POLICY MAKERS ARE STEPPING UP
8
1
2
3
9. Access by
2020
Against the backdrop
of strong country and
global leadership, the
pieces for meaningful
acceleration of our
market development
efforts are coming
together.
Post-2015
MDG
Successor
50+
countriesG20
STRONG GLOBAL TAILWINDS
2011/12
9
2009
2011/12
2013
2013
11. CGAP V
RECOMMITMENT AND PRIORITIES
In FY2014, CGAP recommitted to our vision and
mission, and we identified strategic priority areas
that endeavor to explore and shape the four
components of market acceleration.
SHARED VISION
A world where everyone
can access and effectively
use the financial services
they need to improve
their lives
• Understanding demand to effectively deliver for
the poor
• Financial innovation for smallholder families
• Developing robust provider ecosystems
• Building and enabling a protective policy
environment globally
• Effective and responsible funding for financial
inclusion
CGAP’s MISSION
To improve the lives of poor
people by spurring innovations
and advancing knowledge and
solutions that promote responsible
inclusive financial markest
FIVE-YEAR PRIORITIES:
11
12. OUR STRATEGY
Launched in FY2014, CGAP’s new five-year strategy encompasses
10 initiatives. Each was established based on a clear purpose to detail
the barriers that prevent financial inclusion; to articulate an upfront plan
to remove barriers to change and to define CGAP’s role to bringing about
this change; and to be accountable for results by measuring CGAP’s
contribution against time-bound outcomes. Some of FY2014 was spent
conceptualizing these initiatives and establishing goals and outcomes.
CUSTOMERS AT THE CENTER
GRADUATING THE EXTREME POOR
INNOVATING FOR SMALLHOLDERS
INCLUSIVE PAYMENT ECOSYSTEMS
PRODUCTS BEYOND PAYMENTS
DIGITAL FINANCE PLUS
GLOBAL POLICY ARCHITECTURE
PROTECTING CUSTOMERS
GUIDANCE FOR FUNDERS
MEASURING MARKET DEVELOPMENT
OUR INTIATIVES
11
12
13
14
15
16
17
18
19
110
12
13. CUSTOMERS AT THE CENTER1
U
ptake and repeated use of financial services reflect a perceived
and real value of such services for customers and providers.
The challenge is to provide services that drive both uptake
and use. The current portfolio of services largely does not offer value
to clients (with some notable exceptions), and at the same time low
usage negatively impacts the business models of providers. The
Customers at the Center Initiative aims to improve uptake and usage
of financial services by providing guidance for financial institutions.
This Initiative builds on the demand-side work begun in FY2014 as
part of CGAP’s clients-focus work—to better understand the financial
needs of poor people and reframe the dialogue on customer-
centricity among key providers.
It also draws on customer-centric work executed in Applied Product
Innovation projects in the technology area, behavioral research
conducted in the customer protection area, as well as the custom-
er-specific lessons from the Graduation pilots. Insights and lessons
learned from CGAP’s work on better understanding customers
will be embodied in the “Guide to the Customer-Centric Business
Model,” available in FY2015. The Guide will elaborate on the five
pillars of a Customer-Centric Business Model, namely (i) organization-
al leadership and culture that is customer-centric; (ii) empowered
employees; (iii) a customer-focused operating model; (iv) the design
and delivery of customer experience based on a granular under-
standing of the customer; and (v) a focus on value creation, both for
the customer and the financial service provider. These pillars must be
embedded in financial service providers to ensure long-term change
toward customer-centricity and empowered customers who take up and
use financial services. The Guide will go through several iterations during
the CGAP V timespan. We also seek to create an approach to empower
customers with information and skills that will lead to meaningful selection
and use of products and services, including anticipating preferences and
behavioral biases that may affect uptake and usage.
Micro and Small Enterprise Finance Working Group. The Micro and
Small Enterprise Finance Working Group (MSE WG), created in 2010, is
associated with the Customers at the Center Initiative. MSE WG is an infor-
mal forum for peer learning and knowledge exchange on micro and small
enterprise among CGAP members and other interested organizations. It is
member driven and focuses on sharing insights and good practices, with
CGAP serving to facilitate a learning agenda with the active participation
of WG members. The WG is co-chaired by a Council of Governors member
and a member of the CGAP Operational Team. The MSE WG, and the
deep focus on smallholder families through the Smallholders Initiative,
recognizes the link between improving the economic lives of the poor
and access to financial services.
13
15. GRADUATING THE POOR2
CGAP’s Graduating the Poor Initiative is generating global
knowledge on how to help significant numbers make progress
out of extreme poverty through its collaboration with selected
policy makers, funders, researchers, and other stakeholders.
The approach, which has been tested over the past 10 years in
10 pilots in eight countries, is based on a carefully sequenced set
of building blocks targeted to very poor people, including
consumption support, livelihoods assistance, asset transfers,
savings services, and coaching.
In February 2014, CGAP and the Ford Foundation organized
the Reaching the Poorest Global Learning Event. Attended by
over 100 leading policy makers, practitioners, and development
experts, the event was designed to assess lessons learned so far
from implementation and research, particularly how the approach
can be incorporated into social protection programs to reach
the extreme poor at large scale. In addition, CGAP collaborated
with IPA to publish an Interim Impact Findings Update for
Policymakers.
CGAP’s work to generate sustainable livelihoods for the very
poor is now evolving from supporting pilot programs to demon-
strating that the approach can be implemented effectively at scale.
In FY2015 CGAP will work with partners to disseminate actionable
and synthesized research findings to support implementation by countries
and major donors such as the World Food Programme and the UN High
Commission for Refugees.
The Graduation Initiative will also focus on supporting implementation of
graduation scale-ups with relevant guidance, including a comprehensive
Technical Guide and a Focus Note that compiles and compares evidence
on the cost-effectiveness of graduation-type programming with that of
livelihoods and cash transfer programs.
15
16. C
onsistent with strategic outcomes identified
under the CGAP V strategy and with the support
of an expert Advisory Committee, CGAP’s initial
priorities for the Financial Innovation for Smallholder
Families Initiative are to (i) significantly contribute to the
demand-side evidence base and (ii) work with branchless
banking providers to develop digital financial services
tailored to smallholder households. With respect to de-
mand-side evidence, CGAP is conducting a year-long
financial diaries project with approximately 300 small-
holder families in three countries to better understand
their agricultural and nonagricultural income flows, money
management strategies, and financial lives.
To complement the diaries, CGAP will also conduct
nationally representative surveys of smallholder house-
holds to elucidate the heterogeneity of the sector, identify
distinct segments of smallholder households, and high-
light opportunities to add value to each segment’s portfolio
of informal and formal financial services. On the supply
side, CGAP will collaborate with four branchless banking
partners working to reach smallholder households with a
digital finance product that they develop through a
human-centered design process.
INNOVATING FOR SMALLHOLDERS3
16
18. U
nder this initiative, work is being undertaken in
10 countries to create country success cases where
digital payments are provided in a diverse and
competitive business ecosystem and are widely used.
The key to success will be enabling regulations and
government policies and practices that open up pathways
to support the widespread use of digital payments. To
create country success cases, we will work directly with
providers, policy makers, and governments. We will also
work closely with a broad cross-section of CGAP members.
In FY2015 we will support the launch of new businesses
to create a more competitive provider ecosystem in
three countries. In at least four countries, our analysis
and support could lead to new regulations or changes
to regulations to promote the viability and scale of
digital payments.
INCLUSIVE PAYMENT ECOSYSTEMS4
18
19. T
he Digital Finance Frontiers Initiative aims to
demonstrate how digital payments systems expand
the range of financial services delivered viably to
poor people. Digital channels allow providers to process
frequent, low-value transactions at marginal cost. In
combination with other attributes of digital channels
(e.g., access to transactional data, real-time interactions
with customers, location-based intelligence, among others),
these capabilities make it possible for providers to deliver
useful and meaningful services to poor people on a
sustainable basis. Some degree of experimentation is
currently under way. A significant focus for FY2015 is
on documenting what is being demonstrated and
learned, and identifying areas for future innovation.
DIGITAL FINANCE FRONTIERS5
19
20. T
he Digital Finance Plus Initiative seeks to leverage digital
payment ecosystems emerging in different markets to open
up new solutions to long-standing development challenges.
It aims to demonstrate how finance can benefit broader development
goals and the linkages between digital finance and sectors such as
energy, water, education, health, and agriculture. Efforts under this
initiative will create a range of proven solutions that increase access
of the most basic services for the poor by leveraging digital finance
in multiple market contexts. In FY2014 we launched key projects with
providers and plan to share results next year through various channels,
including specialized expert gatherings called “Big Think” in various
sectors. We expect to make inroads to identify proven solutions in
the energy sector in the coming year. Also in FY2014, we completed
the CGAP-McKinsey Market Readiness study for Digital Finance
Plus, which identifies and explains market factors driving the
development of area.
DIGITAL FINANCE PLUS6
20
22. GLOBAL POLICY ARCHITECTURE7
T
he Global Policy Architecture Initiative aims to facilitate
a fundamentally different perspective on the role of
financial inclusion in broader financial sector policy-making.
Increased evidence, guidance, and compelling articulation of
linkages among financial inclusion (I) and the other objectives of
policy, regulation, and supervision of the financial sector: stability
(S), integrity (I), and consumer protection (P) (collectively, the I-SIP
linkages) are critical to shift the thinking of country-level policy
makers, the Standard-Setting Bodies (SSBs), and other global actors.
CGAP’s role as lead Implementing Partner for the SSBs work stream
of the G20’s Global Partnership for Financial Inclusion (GPFI)
offers the opportunity to leverage the G20’s influence. In FY2014,
at the recommendation of the GPFI, the G20 leaders called on
the SSBs to continue their progress to integrate consideration of
financial inclusion in their work, including through engagement with
the GPFI on emerging issues in financial inclusion of relevance to
multiple SSBs, such as those arising with digital approaches to
financial inclusion. In FY2015 we will make use of opportunities to
bring the SSBs and other global bodies to deepened understanding
of financial inclusion and foster a less siloed approach to standard
setting. Through improved understanding of I-SIP linkages in
several reference markets, we will continue to foster more
proportionate regulation and in turn provide better evidence
for SSB standards and guidance.
22
23. PROTECTING CUSTOMERS8
T
he Protecting Customers Initiative aims to develop effec-
tive, behaviorally informed consumer protection strategies
that are practical and cost-effective to implement and re-
spond to rapid innovations in financial inclusion products, channels,
and business models. In FY2014 we published a Focus Note that
illustrated how consumer and behavioral research insights could
be applied to strengthen consumer protection policy and regula-
tion in key areas such as disclosure, complaints handling, and re-
sponsible lending. An important part of the evidence was findings
from “mystery shopping” of providers’ actual practices through a
streamlined and relatively low-cost tool that CGAP developed and
is now being used by others. In another Focus Note we offered
practical guidance on how to make recourse systems more
accessible and meaningful for base-of-the-pyramid consumers.
In FY2015 we will apply new behavioral research methods, in
partnership with policy makers in two to three reference markets,
to test and implement more effective approaches to complaints
handling and responsible lending.
Increasingly, financial services are delivered to previously
underserved consumers through use of digital technologies.
A new CGAP work stream seeks to build the evidence base and
menu of industry and policy solutions to address evolving consum-
er risks in markets that are experiencing rapid innovation in ser-
vices, channels, and business models. In FY2015, CGAP’s work
in this new area will focus on building a cross-country comparative evi-
dence base through deep dives in four markets, developing a robust
framework for analyzing specific risks and solutions that mitigate them,
and engaging with key reference firms and forward-looking policy makers
to motivate practical action. This will include technical leadership on the
first global convening of industry players, policy makers, consumer advo-
cates, and researchers on responsible digital finance.
23
24. GUIDANCE FOR FUNDERS9
T
he Guidance for Funders Initiative focuses on developing
concrete operational guidance for funders on how to
support financial inclusion using a market development
approach. The Initiative builds on the lessons CGAP, its members,
and the broader industry have learned in the past years on
funder effectiveness and funding flows, including the SmartAid
Index, the CGAP Funder Survey, and research on the role of
funders in market development.
To achieve universal financial inclusion, existing market barriers
that prevent the poor from accessing and using financial services
need to be addressed. This requires funders to take a systemic
market development approach that goes beyond funding financial
service providers, and aims to address the root causes of exclusion.
There is a growing discourse among funders about the relevance
and applicability of a market development approach to financial
inclusion; however, implementing such an approach in practice is
challenging and often questions existing institutional structures
and incentives within funding agencies. “Facilitating Market
Development to Advance Financial Inclusion” presented the
rationale and introduced the ways in which this approach can be
applied for financial inclusion. To operationalize these messages
further, in FY2015 the Initiative is prioritizing a consultative process
for updating the “Good Practice Guidelines for Funders of Microfi-
nance.” Additionally, more detailed guidance on how funders can
facilitate markets for capacity building services and how specific
funder segments (such as development finance institutions) and
funding instruments (such as equity) can be used to support market
development is planned.
Data on funding flows remain a priority for our funder-related
work as it helps to guide the funding community on where funding
is allocated and where there may be potential gaps.
24
25. T
he Measuring Market Development Initiative aims to
improve decision-making by funders and market actors
to benefit poor customers. A primary audience for the
Initiative is the donor community because donors typically
fund data and impact research and evaluations and are interested
in finding and applying innovative ways to measure inclusive
market development and their contribution to it.
In FY2015 we will be engaging with donors and industry experts
on financial inclusion measurement, evaluation, and research.
We will develop an industry-wide learning agenda focusing on
evidence knowledge gaps and how to best close the gaps through
a combination of consultation, documentation, synthesis of the
latest impact, effectiveness literature, and impact learning events.
We will also explore ways to measure inclusive financial market
development and donors’ contribution to such development
through facilitators. The lessons and results of these partnerships
are meant to demonstrate success cases on new measurement
approaches and tools for replication in other countries by key
stakeholders.
MEASURING MARKET DEVELOPMENT10
25
26. With a global learning agenda focused on the highest potential
impact areas, CGAP’s regional representation work is structured
largely thematically to help us remain connected to the ground
while also disseminating global evidence. During CGAP V we
are expanding our regional presence in particular to focus on
building inclusive payment ecosystems: we are focusing on nine
countries in Anglophone Africa and South Asia to create coun-
try success cases on digital payments. In those countries we will
work directly with providers, policy makers and governments as
well as a broad cross-section of CGAP members. This work is
encompassed in the Inclusive Payment Ecosystems Initiative.
Regional representation helps to advance CGAP Initiatives’
learning agendas at a local and regional level. CGAP regional
representatives deepen outreach and advocacy efforts, collect
on-the-ground market intelligence, and integrate local priori-
ties into CGAP’s global agenda. They serve as two-way
communications between CGAP and the field and work
closely with several Initiatives.
REGIONAL REPRESENTATION
26
27. KNOWLEDGE PRODUCTS DISSEMINATION
AND COMMUNITY BUILDING
CGAP’s communications efforts make full use of a broad
spectrum of multimedia and other communications tools
to advance knowledge and solutions that promote
responsible, sustainable, and inclusive financial markets.
This targeted communications work will help shape
the financial inclusion landscape in general and influence
policy makers and others through consistent, clear
messaging across CGAP’s Initiatives.
27
28. Highlights for FY2014 included the launching the new
Microfinance Gateway website as well as planning for
an online learning platform targeting sub-Saharan
Africa. CGAP.org continues to feature high-quality
videos to communicate our messaging and will continue
to explore the use of cutting-edge multimedia tools in
support of the CGAP V strategy.
28
29. BRIEFS
➜ Where Do Impact Investing and
Microfinance Meet? (July 2013)
➜ Lessons Learned from the Moroccan
Crisis (Aug 2013)
➜ Designing Customer-Centric
Branchless Banking Offerings
(Dec 2013)
➜ Trends in International Funding
for Financial Inclusion (Dec 2013)
➜ The Emerging Global Landscape
of Mobile Microinsurance (Jan 2014)
➜ Bitcoin vs Electronic Money
(Jan 2014)
➜ Embedding Social Performance
Management in Financial Service
Delivery (May 2014)
➜ Customer-Centricity for Financial
Inclusion (June 2014)
FY 2014 PUBLICATIONS
FOCUS NOTES
➜ A Microcredit Crisis Averted:
The Case of Bangladesh (July 2013)
➜ Microfinance and Mobile Banking:
Blurring the Lines? (Aug 2013)
➜ Facilitating Market Development to
Advance Financial Inclusion (Oct 2013)
➜ Making Recourse Work for Base-of-
the-Pyramid Financial Consumers
(Dec 2013)
➜ Managing Failing Deposit-Taking
Institutions (Dec 2013)
➜ Financial Inclusion and Development:
Recent Impact Evidence (Apr 2014)
➜ Electronic G2P Payments: Evidence
from Four Lower-Income Countries
(May 2014)
➜ Applying Behavioral Insights in
Consumer Protection Policy (June 2014)
➜ The Business Case for Youth Savings:
A Framework (June 2014)
➜ Serving Smallholder Farmers: Recent
Developments in Digital Finance
(June 2014)
FORUMS
➜ Microcredit Interest Rates and Their
Determinants: 2004–2011 (July 2013)
➜ Financial Access 2012 (July 2013)
➜ Greenfield MFIs in Sub-Saharan
Africa (Feb 2014)
➜ The Art of the Responsible Exit in
Microfinance Equity Sales (Apr 2014)
TECHNICAL GUIDES
➜ Implementing Consumer Protection
(Aug 2013)
➜ SmartAid Index 2014 (July 2014)
29
30. GOVERNANCE STRUCTURE
CGAP has an autonomous governance structure that consists of the
Council of Governors (CG) of member donors and the Executive
Committee (Excom). Housed within the World Bank Group, the
Operational Team implements CGAP’s activities.
The CG is CGAP’s highest governing body. It is responsible for
setting CGAP’s broad policies and strategic directions, approving
CGAP’s five-years strategic frameworks, providing inputs on and
approving CGAP’s annual workplan and budget, and determining
the extension or disbandment of CGAP. The CG currently has more
than 34 members; these include bilateral and multilateral develop-
ment agencies, regional development banks, development finance
institutions, and private foundations.
The ExCom functions as CGAP’s advisory board. It advises and
is accountable to the CG, and serves as a communications link
between CG members and the Operational Team. The ExCom
provides strategic guidance to CGAP on its five-year strategic
framework and associated results framework. It recommends to
the CG approval of the CGAP annual workplan and budget, and
reviews the implementation of the approved workplan and budget
and achievements of results. The ExCom is composed of represen-
tatives of the CG and of leading financial inclusion practitioners.
The Operational Team, headed by CGAP’s chief executive officer,
is responsible for implementing CGAP’s activities and programs.
CGAP’s main offices are in Washington, D.C., and Paris, France.
30
31. Kazuto Tsuji, Chair (JICA)
Robert Annibale, (Citi Foundation)*
Edvardas Bumsteinas (EIB)
Renée Chao-Béroff (PAMIGA)*
Anniken Esbensen (Norway)
Margaret Grosh (World Bank)
Michael Hamp (IFAD)
Nick Hughes (M-KOPA)
Ann J. Miles (The MasterCard Foundation)
Daphne Motsepe (Unsecured Lending Absa)
Muna Sukhtian (MicroFund for Women)
Carolina Trivelli (ASBANC [Peruvian Bank Association])
Rodger Voorhies (Bill Melinda Gates Foundation)*
Tilman Ehrbeck, Ex-officio, CGAP CEO
*Committee appointment ended during FY 2014.
EXECUTIVE COMMITTEE MEMBERS
31
32. CGAP MEMBER DONORS
AGENCE FRANÇAISE DE DEVELOPPEMENT (AFD)
Marie-Laure Garnier and Jean-Hugues De Font Reaulx
AGENCIA ESPAÑOLA DE COOPERACIÓN
INTERNACIONAL PARA EL DESARROLLO (AECID)
Juancho Izuzquiza Rueda
ASIAN DEVELOPMENT BANK
Noritaka Akamatsu and Arup Chatterjee
AUSTRALIA
Luana Cormac, Rebecca Bryant, Christine Groeger,
and Clay O’Brien
BILL MELINDA GATES FOUNDATION
Rodger Voorhies and Jason Lamb
CANADA
Joanna Richardson
CITI FOUNDATION
Pamela P. Flaherty, Brandee McHale, Graham MacMillan,
Dorothy Stuehmke, and Jasmine Thomas
DENMARK
Jorn Olesen
EUROPEAN BANK FOR RECONSTRUCTION AND
DEVELOPMENT (EBRD)
Henry Russell and Alfonso Vega Acosta
EUROPEAN COMMISSION
Monica Peiro-Vallejo and Michele Chiappini
EUROPEAN INVESTMENT BANK (EIB)
Edvardas Bumsteinas and Perrine Pouget
FMO—DUTCH DEVELOPMENT BANK
Frederik J. Van Den Bosch, Roel Vriezen, and
Bert Richly Brinkenberg
THE FORD FOUNDATION
Frank DeGiovanni
GERMANY
Wolfgang Buecker and Susanne Dorasil
INDIA
Anurag Jain and Alok Pande
INTER-AMERICAN DEVELOPMENT BANK (IDB)/
MULTILATERAL INVESTMENT FUND (MIF)
Tomas Miller, Nancy Lee, and Sergio Navajas
INTERNATIONAL FINANCE CORPORATION (IFC)
Martin Holtmann and Peer Stein
INTERNATIONAL FUND FOR AGRICULTURAL
DEVELOPMENT (IFAD)
Michael Hamp and Francesco Rispoli
INTERNATIONAL LABOUR ORGANIZATION (ILO)
Craig Churchill
ITALY
Nicola Pisani
JAPAN
Kazuto Tsuji, Yasuyo Okumoto, and
Shinichiro Yoshida
KFW
Annette Detken and Carmen Colla
AFRICAN DEVELOPMENT BANK
Mohamed Kalif
LUXEMBOURG
Nima Ahmadzadeh and Richard Philippart
THE MASTERCARD FOUNDATION
Reeta Roy, Ann J. Miles, and Mark Wensley
METLIFE FOUNDATION
Evelyn J. Stark and Dennis White
MICHAEL AND SUSAN DELL FOUNDATION
Satyam Darmora
THE NETHERLANDS
Richard Dons, Ben Simmes, and Josien Sluijs
NORWAY
Anniken Esbensen and Tom Edvard Eriksen
OMIDYAR NETWORK
Arjuna Costa and Amy Klement
SWEDEN
Ola Sahlen and Ola Nilsmo
SWITZERLAND
Johann-Friedrich (Hans) Ramm
UNITED KINGDOM
Anuradha Bajaj and Claire Innes
UNITED STATES
Jennefer Sebstad, Ryder Rogers, Priya Jaisinghani,
and Kathleen McGowan
UNITED NATIONS CAPITAL DEVELOPMENT FUND
(UNCDF)/UNDP
Henri Dommel and John Tucker
WORLD BANK
Klaus Tilmes, Simon Bell, Margaret Grosh,
Douglas Pearce, and Gaiv Tata
32
33. CGAP’s FINANCIAL POSITION
Housed at the World Bank , CGAP operates within
the World Bank’s legal, financial, and administrative
environments; it follows the World Bank’s fiscal year which
ends on 30 June. Although CGAP financial reports are
unaudited, all CGAP activities and resource use are subject
to the World Bank Group’s annual single audit exercise.
Transactions underlying these reports are reviewed as
part of the World Bank Group’s ongoing quality
assurance mechanisms.
This is a summary of CGAP’s high-level financial results
for the period 1 July 2013 to 30 June 2014 (FY2014), year
one of the CGAP V implementation. Table 1 shows donor
contributions by donor for FY2013 and FY2014, and
includes a preliminary outlook for donor contributions for
FY2015. Table 2 shows CGAP’s financial position for the
years FY2013 and FY2014. It also shows expenses by
category of expense for FY2013 and FY2014 and by area
of work for FY2014. Expense by area of work is shown only
for FY2014 because that was the first year of CGAP V
implementation and marked the start of new strategic
priorities and supporting initiative structure.
33
34. KEY FINANCIAL RESULTS FOR FISCAL YEAR 2014, ENDING ON 30 JUNE 2014
DONOR CONTRIBUTIONS. CGAP members continued
to demonstrate commitment to CGAP’s mission and
objectives through sustained funding in FY2014. Donor
Contributions in FY2014 totaled $23 million, largely
unchanged from FY2013, but up significantly from the
preliminary outlook of $16.5 million presented at the
May 2013 Annual Council of Governors Meeting. NB:
Donor contributions comprise pledges made by donors
for a given fiscal year. They do not necessarily reflect
cash received since donors may choose to prepay in
one year, multi-year pledges. On the other hand, a
donor might pledge a contribution for a given fiscal
year, and launch the process for making the cash
payment, but payment might be received only
after 30 June, the close of the fiscal year.
The increase in contributions from the preliminary
outlook was the net result of (a) higher than projected
pledges from France, Ford Foundation, Canada, Bill
Melinda Gates Foundation, the MasterCard Founda-
tion, Sweden, and the United States; (b) lower than
projected pledges from IADB and Norway, (c) shifting
pledge year from FY2014 to FY2015 for the European
Commission and DFID, and from FY2013 to FY2014 for
the African Development Bank, and (d) the addition of a
new partner and associated pledge—MetLife Foundation.
In some FY2014 pledges remained receivable into
FY2015 pending finalization of the multidonor trust
fund instrument for core contributions. The instrument
was finalized and became effective in early FY2015.
EXPENSES. Expenses in FY2014 totaled $22.4 million
compared to $20.7 million projected at the May 2013
Annual Meeting. The increase in expenses was enabled
by the increase in funding available; all activities under-
taken were consistent with the agreed work program,
which included overlapping efforts of concluding residual
CGAP IV activities and start-up of CGAP V activities.
Regarding distribution of expenses by area of work—
88 percent of total expenses were utilized for program
activities, and 12 percent were for corporate and other
activities.
CASH BALANCE AT END FY2014: The cash balance across
all CGAP trust fund instruments totaled $29.0 million at
end-FY2014, of which $7.4 million was in commitments
not yet paid by 30 June 2014. The FY2014 closing
uncommitted cash balance was $21.6 million. The
relatively high cash balance was the result of payment
in mid-FY2014 of a contribution amount covering
activities expected to be transferred in two years—
FY2014 and FY2015.
34
35. DONOR
CONTRIBUTIONS,
FY2013 AND FY2014,
AND FY2015
(Preliminary Outlook)
NOTES:
Contributions with donor
pledge are italicized.
Contributions with signed
administrative agreement
but not yet received are
Italicized and bolded.
Contributions received are
shaded (light green) and bolded.
Contributions in “black”
are assumed pledge based
on historical trend.
TABLE 1 FY2013 FY2014 FY2015
World Bank 2,520 1,600 1,600
France / AFD / Treasury 377 520 520
African Development Bank — 120 100
Asian Development Bank — — —
Australia 1,041 1,127 1,000
Canada 256 273 272
Citi Foundation 250 250 250
Michael Susan Dell Foundation 100 100 100
Denmark 575 613 600
EBRD — — —
European Commission 1,000 — 690
European Investment Bank 265 272 272
Finland 190 — —
Ford Foundation — 295 200
Bill Melinda Gates Foundation 500 6,500 4,000
Germany / BMZ 537 544 381
IADB/MIF 100 100 100
IFAD 500 500 500
IFC 450 450 300
ILO — — —
Italy — — —
Japan 300 300 300
Luxembourg 538 532 532
Mastercard Foundation 500 1,000 1,000
MetLife Foundation — 167 167
Netherlands 400 1,000 1,000
Norway 807 411 411
Omidyar Network 300 300 300
Spain — — —
Sweden 467 770 770
Switzerland 319 330 330
UNCDF 125 125 100
United Kingdom 800 — 3,565
United States 200 400 400
Core 13,417 18,598 19,760
DETAILS : TARGETED CONTRIBUTION
Australia 200
Bill Melinda Gates Foundation 1,750
Germany / GIZ 717 134
Mastercard Foundation 4,448 2,098 2,029
Mastercard Foundation (Gateway Academy) 1,649
United Kingdom 2,884 2,136 1,003
TOTAL TARGETED CONTRIBUTION 9,798 4,368 4,880
Total 23,215 22,966 24,640
35
36. CGAP FINANCIAL POSITION ($000)
Fiscal year ending 30 June 2013 and 30 June 2014
FY13 Actual FY14 Actual
TABLE 2 July 2012–June 2013 July 2013–June 2014
AVAILABLE RESOURCES
Uncommitted cash balance at 1 July 2012 22,294
Uncommitted cash balance at 1 July 2013 25,275
Commitment Balance at 1 July 2013 4,028
Donor contributions received in FY2014 21,723
Fund received from FPDVP 150
Reflows from previously committed grants 270 315
Interest Income 149 130
Total Available Resources 22,863 51,471
EXPENSES BY EXPENSE CATEGORY
Staff Salaries Benefits 7,301 7,978
Field Assignment Benefits 140
Office occupancy and staff related IT support 1,344 972
Web related IT support 597 826
Consultant fees 2,500 3,200
Travel Expenses 1,964 2,453
Grants 1,788 255
Contractual / Firm services 3,336 5,557
Other operating expenses 418 343
Total Expenses 19,247 21,726
Administrative Fee 845 668
Total Expenses including Administrative Fee 20,093 22,393
Commitment balance at the end of fiscal year 7,437
Cash balance at the end of fiscal year 21,640
36
37. CGAP FINANCIAL POSITION ($000)
Fiscal year ending 30 June 2013 and 30 June 2014
TABLE 2, continued FY14
EXPENSES BY AREA OF WORK
Strategic Priorities/Initiatives
Understanding Demand to Effectively Deliver for the Poor 2,404
Customers at the Center
Graduating the Poor
Innovating for Smallholder Families 873
Developing Robust Provider Ecosystems 7,981
Inclusive Payments Ecosystems
Products beyond Payments
Digital Finance +
Building an Enabling and Protective Policy Environment Globally 1,963
Gobal Policy Architecture
Protecting Customers
Promoting Effective and Responsible Funding for Financial Inclusion 1,195
Guidance for Funders
Measuring Market Development
Regional Representatives 1,375
Knowledge Product Dissemination Community Building 3,419
Comms Publications, incl printing and translation
Microfinance Gateway
Information Technology Platform
Subtotal Strategic Priorities/Initiatives 19,210
CORPORATE OTHER
Boulder Scholarships 109
CG/Excom Meeting 309
Staff Training Retreats 184
Management, Administration, and Monitoring, Learning Evaluation 1,913
Subtotal Corporate Other 2,515
Total Program Expenses 21,726
Administrative Fee 668
Grand Total including Administrative Fee 22,393
37
38. FY2014 CGAP STAFF
Julia Abakaeva, Financial Sector Specialist
Jamie Anderson, Financial Sector Specialist
Shweta Banerjee, Analyst
Lauren Braniff, Microfinance Gateway Managing Editor
Kai Bucher, Communications Officer
Gregory Chen, Senior Financial Sector Specialist
Gerhard Coetzee, Senior Financial Sector Specialist
Ann Courtmanche, Senior Program Assistant
Emmanuel Crown, Web Developer
Tilman Ehrbeck, Chief Executive Officer
Mayada El-Zoghbi, Senior Financial Sector Specialist
Xavier Faz, Senior Financial Sector Specialist
Evelyne Fraigneau, Executive Assistant to the Director
Zoë Gardner, Program Assistant
Zeke Geh, Associate Microfinance Analyst
Natalie Greenberg, Microfinance Gateway Business
Manager
Michel Hanouch, Financial Sector Specialist
Nina Holle, Associate Microfinance Analyst
Luz Hurlburt, Resource Management Assistant
Juan Carlos Izaguirre, Financial Sector Specialist
Tanaya Kilara, Financial Sector Specialist
Antonique Koning, Financial Sector Specialist
Kabir Kumar, Senior Financial Sector Specialist
Estelle Lahaye, Financial Sector Specialist
Minh Huy Lai, Financial Sector Specialist
Rudeewan Laohakittikul, Budget Officer
Alexia Latortue, Senior Private Sector
Development Specialist
Karel Leon, Information Officer
Timothy Lyman, Lead Policy Officer
Rafe Mazer, Financial Sector Specialist
Djibril Maguette Mbengue, Financial Sector Specialist
Claudia McKay, Senior Financial Sector Specialist
Kate McKee, Senior Adviser
Aude de Montesquiou Fezensac, Financial
Sector Specialist
Marve M. Mulavu-Biggedi, Operations Assistant
Karina Nielsen, Financial Sector Specialist
Wameek Noor, Financial Sector Analyst
Anna Nunan, Senior Publishing Officer
Jonathan Okojie, Budget Assistant
Jake-Anthony Pauig, Publications Assistant
Nancy Pinto, Senior Operations Officer
Susan Pleming, Senior Communications Officer
Stephen Rasmussen, Lead Specialist
Michael Rizzo, Digital Media Coordinator
Sarah Rotman Parker, Financial Sector Specialist
Ousa Sananikone, Senior Private Sector
Development Specialist
Erin Scronce, Communications Officer
Renu Sehgal, Operations Analyst
Yanina Seltzer, Financial Sector Analyst
Michael Tarazi, Senior Regulatory Specialist
Camilo Tellez, Financial Sector Specialist
Myra Valenzuela, Associate Microfinance Analyst
CGAP REGIONAL REPRESENTATIVES
Nadine Chehade, Regional Representative for Middle
East North Africa Region
Eric Duflos, Regional Representative for East Asia and
Pacific
Corinne Riquet, Regional Representative for Franco-
phone Africa
Olga Tomilova, Regional Representative for Europe
and Central Asia
38