According to the World Bank, financial inclusion “means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit, and insurance – delivered in a responsible and sustainable way”.
Boosting financial inclusion and access to finance can make crucial contributions to economic development, enabling social mobility and ensuring that the largest number of people can participate fully and effectively in economic life.
financial inclusion is especially useful in tackling income inequality and poverty by increasing advancement opportunities for disadvantaged populations in emerging economies.
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