The United Nations Sustainable Development Goals

Gunnar Larson g at
Thu Apr 13 20:32:35 PDT 2023

The World Bank, USAID, and other global development institutions must
invest more to expand access to financial services, particularly among
women, according to a Devex survey. The survey of 900 development
professionals, which was conducted in March, showed that about two-thirds
of respondents believe development institutions are making a mistake by not
doing more on financial inclusion, which they see as crucial to progress on
the United Nations Sustainable Development Goals.

Improved trust in mobile money and other digital services can be a crucial
barrier breaker in attracting more people to access financial services,
Devex community members said in the survey. The cost of such services and
digital and financial literacy were the other two barriers to more adoption.

Why it matters: The U.N. considers financial inclusion — providing banking
and other financial tools to low-income people and businesses — as key to
grasping the SDGs. If institutions like the World Bank and USAID fail to
deliver, it could hurt the achievement of at least eight of the 17 SDGs.
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