Overview
Financial inclusion is a vital aspect of economic development, ensuring that all individuals have access to essential financial services. It empowers people to save, invest, and improve their livelihoods, which in turn stimulates economic growth and reduces poverty. By addressing barriers such as ge...
Key Terms
Example: Microfinance institutions offer small loans to entrepreneurs in developing countries.
Example: Mobile payment apps are a popular form of fintech.
Example: Financial inclusion programs can help alleviate poverty by providing access to credit.
Example: Countries with higher financial inclusion often experience faster economic growth.
Example: Financial literacy helps individuals make informed decisions about saving and investing.
Example: Access to finance is crucial for starting a new business.