CGAP (Consultative Group to Assist the Poor), an independent policy and research center housed at the World Bank, recently released its survey of financial regulators “Financial Access 2010”.
This is the second annual survey of financial regulators that CGAP has produced. According to the report, “despite an environment dominated by tight credit markets and slowing economies, more people in developing countries gained access to financial services in 2009”. The report also expressed optimism based on the growth of financial infrastructure such as automated teller machines (ATMs) and point of sale (POS) terminals.
Statistics that are highlighted in the include:
– 2.7 billion people around the world have no access to formal financial services
– 65 deposit accounts were added per 1,000 adults in 2009
– the average number of loans per 1,000 adults broadly remained unchanged between 2008 and 2009 although the aggregate loan volume as a share of GDP fell by 15.2 percent
– 1 bank branch, 5 ATMs, and 167 point-of-sale (POS) terminals were added per 100,000 adults in 2009
About CGAP (Consultative Group to Assist the Poor) :
Housed at the World Bank Group, CGAP is an independent policy and research center dedicated to providing financial access for the world?s poor. CGAP is supported by over thirty development agencies and private foundations. Its mission is to provide market intelligence, to promote standards and to offer advisory services to governments, microfinance providers, donors and investors.
By Trevor Kwong, Research Assistant
Sources and Additional Resources:
[1] Source Article: CGAP: Survey Shows Financial Access Growing Despite Effects of the Financial Crisis:
http://www.cgap.org/p/site/c/template.rc/1.26.14234/
[2] MicroCapital Universe: CGAP (Consultative Group to Assist the Poor):
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CGAP+(Consultative+Group+to+Assist+the+Poor)
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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