End Extreme Poverty? Let’s Start With Financial Access For All
A recent blog post by Dr. Jim Kim, President of the World Bank, connected the dots between two aligned and important goals: poverty alleviation and financial inclusion. During his time as a physician on the front lines in Haiti and Peru treating people with TB and HIV, financial services were not part of the discussion to help people move out of poverty. Today, Dr. Kim sees that oversight as a critical miss.
He goes on to point out that a broad and committed set of stakeholders are critical to achieve full financial inclusion by 2020 – and ultimately put us on a path towards ending extreme poverty by 2030. Any challenge involving 2.5 billion people is a huge challenge. It won’t be accomplished by governments alone, by telcos, banks or other private sector players alone or the development community alone. It requires all hands on deck ready to take action.
Public-private partnerships will play a critical role, and the upcoming World Bank and IMF Spring Meetings will be a forum to announce the next steps forward.