CGAP Annual Report 2014

As a broader field of financial inclusion, we have come a long way. A new, wider set of impact evidence has shown a more nuanced picture and affirmed that inclusive financial systems that reach all citizens in a responsible fashion on balance improve household welfare, support economic growth, and reduce inequality. We have refocused on the central premise that financial inclusion is a means to an end and must help poor people improve their lives. A host of world leaders from the G20 to the World Bank President and, most importantly, from a large number of emerging markets and developing countries themselves, have embraced and begun to lead the global financial inclusion agenda. We have seen a number of new, often technology-enabled models at scale reaching poor households in the informal economy with a broader range of services at lower costs.

 

CGAP played an important and meaningful role in shaping these positive developments. In 2014, CGAP started executing against a new five-year strategy and operationalized our new set of priorities at the frontiers of our field in a portfolio of specific multi-year initiatives—each with an impact thesis and expected market development outcomes. We are grateful for the continued strong support of the CGAP members, partners, and wider set of stakeholders.

 

This annual report covers the first year of CGAP’s new five-year strategy and its portfolio of initiatives. To mark this new phase, we have changed the format of this report to be shorter and interactive, with links to various materials from publications to videos to allow the reader to go deeper and explore more detail at their own pace. We hope you enjoy this experience.

 

Launched in FY2014, CGAP’s new five-year strategy encompasses 10 initiatives. Each was established based on a clear purpose to detail the barriers that prevent financial inclusion; to articulate an upfront plan to remove barriers to change and to define CGAP’s role to bringing about this change; and to be accountable for results by measuring CGAP’s contribution against time-bound outcomes. Some of FY2014 was spent conceptualizing these initiatives and establishing goals and outcomes.