Financial inclusion means providing affordable access to essential financial services—like accounts, savings, credit, payments, and insurance—to underserved populations in developing countries. It helps reduce poverty, boost economic growth, empower women, and build resilience against shocks.
Recent Progress (as of 2024 data from World Bank's Global Findex 2025)
Globally, 79% of adults now have a financial account (up from 74% in 2021 and 51% in 2011).
In low- and middle-income economies (developing countries), 75% of adults have an account—an 80% increase since 2011.
Formal saving surged: 40% of adults in developing economies saved in a financial account in 2024 (up 16 percentage points since 2021—the fastest rise in over a decade).
Gender gap narrowed to just 5 percentage points in developing economies, with 73% of women holding accounts.
Digital payments are widespread: 61% of adults in low- and middle-income countries made or received them.
Mobile money has been transformative, especially in Sub-Saharan Africa, where adoption has driven massive gains in access without traditional banks.
Remaining Challenges
Despite gains, about 1.3 billion adults remain unbanked worldwide, many in developing regions. Barriers include high costs, limited infrastructure, low financial literacy, gender norms, and exclusion of the poorest and rural populations. Many accounts remain inactive, and financial resilience is low—only about one-third can cover expenses for over two months if income is lost.
The Path Forward
Digital innovations, national strategies, and public-private partnerships continue to drive progress. The focus is shifting from mere access to meaningful usage, financial health, and outcomes like women's empowerment and climate resilience. With continued investment, developing countries can close remaining gaps and unlock broader economic potential.
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