New Models for Linking Informal Savings Groups to Formal Financial Services
Similar to CARE International's Closing the Gap report, this report looks at linkages from community level financing to established financial services. Through 5 country analyses, the report looks at the successes and challenges of bringing both groups together.
The importance of expanding access to financial services for the world’s poorest people is increasingly recognised, but despite the growing international attention to the issue, numerous barriers remain. A key challenge has been finding cost-effective ways to connect the millions of people who participate in informal community savings groups to banks and other financial institutions. Over the past four years, CARE has tested eight innovative models for linking informal savings groups with companies in five African countries with exciting results that could help connect the developing world’s remaining “unbanked” populations with the formal global economy.
For further information, please see the attachement for the complete report.