The MasterCard Center for Inclusive Growth
In recent years, great strides have been made in improving supply-side issues in financial system access. Specially tailored loans and savings accounts have enabled poorer populations to smooth their income, and technology has allowed banks to reach those rural communities that physical bank branches can’t. But a lack of financial literacy remains a huge demand-side barrier to financial inclusion. Simply put, if people don’t know about or aren’t comfortable with financial products, they will either not demand them, or will be unable to make informed judgments and take effective decisions about them.
Making Cents International
There are over 1.1 billion young people in the world who need to be able to find good jobs, start and grow businesses, gain access to appropriate financial services and overall, participate in the global economy.But how can development practitioners and private and public sector actors meet the growing demand for youth economic opportunity?