Around two billion of the world’s poor population does not have access to basic financial services that would allow them to borrow or save (The World Bank 2014). The low penetration of financial services among the very poor continues to be a cause of concern in Latin America and other developing nations of the world. With this background, GDN has launched a research program, which aims to conduct a systematic research in order to addresses the fundamental issues related to financial inclusion and the role of micro credit instruments in the overall development of the economy and welfare state in Latin American and Caribbean countries. Additionally, the program will provide opportunities for young researchers from this region to engage in meaningful dialogue with peers and policy makers through evidence-informed case studies on various aspects of financial inclusion and micro-finance, for poor and low-income population in their region.
This one-year GDN research program, as part of regional research competition activity, has been successfully conducted in three country case studies namely Bolivia, Chile and Uruguay. Each team conducted research to address the fundamental challenges of financial inclusion witnessed by these countries and the vulnerable populations, from December 2014 to February 2015.
The program is fully-funded by the Development bank of Latin America (CAF)