Amanda Lotz

Blog Post

&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Consultant, CFI

Javier moved from Honduras to the United States with his wife and their children in search of better work opportunities and to escape the violence in their community. His parents chose to stay behind. Luisa moved from the Philippines to Canada to pursue more lucrative opportunities as a nurse, hoping to support her family back home. Yousef fled from Syria to Lebanon, as a refugee, to escape civil unrest.

<a href="http://www.flickr.com/photos/24738097@N04/5062517764/"><img class="alignright wp-image-15019" style="border: 0" src="http://centerforfinancialinclusionblog.files.wordpress.com/2014/05/5062517764_0ff45913d8_b.jpg?w=490" alt="" width="350" height="350" /></a>Javier, Luisa, and Yousef - fictitious characters - are only symbolically representative of some of the enormous global migrant population - estimated to total 232 million people in 2013. Certainly not homogenous, their reasons for leaving their home country can vary tremendously and may include economic opportunities, natural disasters, and security or political concerns.

In spite of the complications of migrating, there is an undeniable and increasing opportunity for financial service providers to serve migrants and their families. Today, I will focus primarily on migrants who move for economic and employment opportunities, though we recognize that these issues are more nuanced for migrants like Yousef who have fled their country of origin for the sake of their safety. I will save this smaller subset, <a href="http://www.un.org/News/briefings/docs//2013/130911_Migration.doc.htm" target="_blank" rel="noopener">7 percent</a> of all migrants, for another post. Though, I will mention that MasterCard has an innovative partnership with Banque Libano-Française for Syrian refugees in Lebanon, which you can read more about <a href="http://newsroom.mastercard.com/mea/press-releases/mastercard-celebrates-partnership-with-banque-libano-francaise-in-lebanon/" target="_blank" rel="noopener">here</a>.

In <a href="http://www.centerforfinancialinclusion.org/fi2020" target="_blank" rel="noopener">Financial Inclusion 2020</a>’s consultations with experts who work with migrants, one message rang particularly loud and clear: it’s not just migrants, but their families too. Regardless of their reasons for relocating, many migrants are leaving someone behind in their native country. With linkages back home, and also because 75 percent of the global migrant population is of working age, they are likely to send remittances to friends and family members. In fact, remittances are projected to reach <a href="http://www.worldbank.org/en/news/press-release/2013/04/19/world-bank-launches-initiative-on-migration-releases-new-projections-on-remittance-flows" target="_blank" rel="noopener">USD $515 billion per year by 2015</a> according to the World Bank. This is quite significant, especially as evidence suggests that remittances have a strong <a href="http://esa.un.org/unmigration/Time_for_Action_UN%20Summit_by_PSutherland_RMAD.pdf" target="_blank" rel="noopener">impact </a>on reducing poverty.

To support remittances for migrants, services providers should maximize migrants’ connections to their native countries. This applies especially for providers in the <a href="http://www.un.org/News/briefings/docs//2013/130911_Migration.doc.htm" target="_blank" rel="noopener">top 10</a> migrant receiving countries (United States, Russia, Germany, Saudi Arabia, United Arab Emirates, United Kingdom, France, Canada, Australia, and Spain). In many cases, migrants typically can only send remittances infrequently (often quarterly) due to costs. The recipients, typically family members, often struggle to budget money during the long lapses of time. Additionally, the migrant has little control over how their family uses the money. If they could send smaller amounts at more strategic times, they could better facilitate the use of the remittances by their families. Accordingly, the World Bank is leading an initiative to reduce remittance costs by the <a href="http://blogs.worldbank.org/psd/more-efficient-ways-transfer-remittances-are-emerging-are-migrants-and-their-families-ready-benefit" target="_blank" rel="noopener">end of 2014</a>, which we hope will relieve some of the burden. However, more can be done to engage with migrants and their families.

Beyond remittances, providers should take responsibility for helping migrants and their families transition to other financial services - for example, savings accounts. When it comes to savings, like many other low-income people, migrants often prefer to stow their earnings at home. Introducing financial services can be aided through the use of complimentary financial consultations at the “teachable moment” of the transaction (e.g. cashing out a remittance), as has been successful through <a href="http://www.developingmarkets.com/case-offering-free-financial-consultation" target="_blank" rel="noopener">Developing Markets’ Associates work</a> in Moldova, Kyrgyzstan, Tajikistan, and Armenia. Taking a holistic approach to the family, <a href="http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2012/08/14/000158349_20120814084903/Rendered/PDF/WPS6157.pdf" target="_blank" rel="noopener">evidence</a> suggests that increased savings, budgeting, and financial planning result when both the migrant and another family member are trained.

Another promising example of linking remittances and other financial services comes from the Philippines. The Commission on Filipinos Overseas, in partnership with Land Bank, created the Kiddies Kapatid Savings (KKISs) program for migrant parents and their dependents. When children make a deposit, migrants are encouraged to match the <a href="http://cfo.gov.ph/index.php?option=com_content&amp;view=article&amp;id=1944:kiddie-katapat-savings-program-kkiss&amp;catid=108:cfo-press-release&amp;Itemid=839" target="_blank" rel="noopener">savings</a>.

An innovator that caught my attention is <a href="https://www.quippi.com/" target="_blank" rel="noopener">Quippi</a>, which provides fee-free international gift cards targeting remittances sent from the U.S. back to Mexico. These gift cards may be used at stores in Mexico, which enables the migrant to have more control over the recipient’s spending.

In Italy, Banca Monte dei Paschi di Siena offers a <a href="http://www.fininc.eu/gallery/documents/wp-migrants-financial-services-final-january.pdf" target="_blank" rel="noopener">special package</a> for migrants, which includes a checking account and remittances/bank transfers at <a href="http://english.mps.it/I+Nostri+Valori/Notizie/Archivio/Montepaschi+at+G20+table+to+support+financial+inclusion.htm">no cost</a> if sent to their country of origin. This is accomplished through special agreements with foreign banks.

At the Center, we are also very interested in on-ramps to financial inclusion, i.e., products and processes that lead to increased use of financial services. In Sri Lanka, Hatton National Bank (HNB) offers a <a href="http://www.microfinancegateway.org/gm/document-1.9.29510/49615.pdf" target="_blank" rel="noopener">savings-linked remittance product</a> to help migrants and their families increase savings and access credit. By partnering with local and international banks, HNB educates migrants and family members on the value of formal remittances. Requiring that 5 percent of transferred funds be saved, after a designated time period the migrant or a family member is able to take out a loan much greater than the amount in the savings account.

Imagine if some of these models were replicated in other countries! Certainly, there are cases where regulatory issues are a challenge. However, whether you’re a regulator, provider, or support organization, I hope that these examples inspire you to think of what more can be done to reach migrants and their families.

Do you have an innovative model that you’d like to share? Please tell us in a comment below.
Image credit: <a href="http://www.flickr.com/photos/24738097@N04/5062517764/" target="_blank" rel="noopener">Romulo Moya Peralta</a>
Have you read?
<a href="http://cfi-blog.org/2014/05/07/walmart-joins-the-list-of-non-traditional-players-offering-remittances/">Walmart Joins the List of Non-Traditional Players Offering Remittances</a>
<a href="http://cfi-blog.org/2014/04/16/facebook-to-provide-remittances-the-news-and-the-bigger-picture/" target="_blank" rel="noopener">Facebook to Provide Remittances? The News and the Bigger Picture</a>
<a href="http://cfi-blog.org/2011/02/01/remittances-a-key-driver-of-economic-reform-in-cuba/" target="_blank" rel="noopener">Cuba &amp; Remittances: Can the "Money in the Mail" Drive Reform?</a>

Not Just Migrants, but Their Families Too

&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Consultant, CFI

<a href="http://www.centerforfinancialinclusion.org/programs-a-projects/financial-inclusion-2020"><img class="alignright size-medium wp-image-8784" style="border: 0;margin-bottom: 15px" src="http://centerforfinancialinclusionblog.files.wordpress.com/2012/11/fi2020_antilogo2.jpg?w=300" alt="" width="300" height="66" /></a>

The <a href="http://www.centerforfinancialinclusion.org/programs-a-projects/financial-inclusion-2020" target="_blank" rel="noopener">Financial Inclusion 2020</a> campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. This blog series spotlights financial inclusion efforts around the globe, shares insights from the FI2020 consultative process and highlights findings from “Mapping the Invisible Market.”

If you are new to the financial inclusion industry, or just looking to uncover more about some of its key action areas, there’s a new online portal sharing resources that we at the Financial Inclusion 2020 project believe are essential: <a href="http://www.centerforfinancialinclusion.org/fi2020/resources" target="_blank" rel="noopener">the FI2020 Resource Library</a>.

The FI2020 team compiled some of its favorite resources on financial inclusion, including publications, blog posts, white papers, websites, data, and policy sources. The resources are organized around FI2020’s five focus areas - Financial Capability, Technology-Enabled Business Models, Client Protection, Credit Reporting, and Addressing Customer Needs – as well as the areas of policy, data, and general financial inclusion discussion.

<a href="http://www.centerforfinancialinclusion.org/fi2020/resources"><img class="aligncenter wp-image-14907" src="http://centerforfinancialinclusionblog.files.wordpress.com/2014/05/accionmanaus0761_financial_capability3.png" alt="" width="600" height="240" /></a>We invite you to explore our suggestions, each featuring its own annotation, and contribute your own. In line with the consultative approach of the FI2020 movement, we are eager to hear what your recommended resources are and continue to build the library. You can submit them to us at the <a href="http://www.centerforfinancialinclusion.org/fi2020/resources" target="_blank" rel="noopener">library webpage</a>.

Here are a few resources to get you started in your reading:

1. Those actively engaged or interested in client protection should check out the following report – with important lessons for all financial inclusion actors.

<a href="http://www.oecd.org/finance/financialeducation/50236278.pdf">Client Protection: A Three-Legged Stool?</a> (April 2012)
OECD
Analistas Financieros Internacionales
Authors: Virginia González Pérez, Verónica López Sabater
This report identifies key stakeholders that make up the three-legged stool of client protection: authority, industry, and clients. It proposes that client protection is not possible unless all three stakeholders are equally engaged. Client protection principles, standards, and practices should be fully applied by providers, with utmost transparency. The authority should exercise its role as provider of regulation, institutional capacity, supervision, and financial education of clients.

2. To better address customer needs, many financial services providers are exploring opportunities to innovate and address client feedback. Speaking directly with clients can help providers to provide a customized service offering. This publication highlights one model from India.

<a href="http://www.cgap.org/sites/default/files/CGAP-Forum-The-Pursuit-of-Complete-Financial-Inclusion-The-KGFS-Model-in-India-May-2012.pdf">The Pursuit of Complete Financial Inclusion: The KGFS Model in India</a> (May 2012)
Consultative Group to Assist the Poor, IFMR Trust 
Authors: Bindu Ananth, Greg Chen, Stephen Rasmussen
This publication describes the Kshetriya Gramin Financial Services (KGFS) operating model in India, which includes a village and household mapping exercise. This innovative model trains front-line staff as “wealth managers” who conduct detailed interviews to diagnose financial needs and offer advice. Wealth managers then propose a customized mix of financial products that address the unique needs of each household, which includes savings, credit, and insurance. They also utilize sophisticated analytics of local economic data. Discusses the client response so far, reviews how far the financial viability of the model has progressed, and explores the applicability of KGFS principles to contexts beyond India.

3. This resource is a financial capability classic which has helped shift industry thinking from financial education (as knowledge acquisition) to financial capability (promoting sound financial choices and behavior).

<a href="http://csd.wustl.edu/Publications/Documents/WP10-17.pdf">Financial Capability: What is It, and How Can It Be Created?</a> (2010) 
Center for Social Development, Washington University
Author: Margaret S. Sherraden
Proposes an alternative to financial literacy, financial capability, which includes when clients have both the ability and opportunity to act. Addresses how people traditionally acquire financial knowledge and skills through financial socialization, financial education, and financial advice/counseling. It then explains how financial inclusion can only be achieved if financial services are accessible, affordable, appealing, simple, secure, and reliable. Knowledge, skills, and inclusion are linked.

Stay tuned, as we’ll soon feature resources on inclusion of underserved and/or vulnerable client groups (e.g. older adults or women). Happy reading!

For more information on Financial Inclusion 2020, <a href="http://bit.ly/FI2020signup">sign up for campaign updates</a>.
Image credit: Accion
Have you read?
<a href="http://cfi-blog.org/2014/03/25/the-microfinance-industrys-most-respected-resources/" target="_blank" rel="noopener">The Microfinance Industry's Most Respected Resources</a>
<a href="http://cfi-blog.org/2014/03/07/top-five-resources-of-2013-on-financial-inclusion-of-women/" target="_blank" rel="noopener">Top Five Resources of 2013 on Financial Inclusion of Women</a>
<a href="http://cfi-blog.org/2011/02/23/portal-de-microfinanzas-shares-unique-mix-of-resources-in-spanish/" target="_blank" rel="noopener">'Portal de Microfinanzas' Shares Unique Mix of Resources in Spanish</a>

What’s on Financial Inclusion 2020’s Bookshelves?

&nbsp;

<a href="https://www.g20.org/"><img class="alignright wp-image-14626 size-full" style="border: 0" src="http://centerforfinancialinclusionblog.files.wordpress.com/2014/04/g20logo.png" alt="" width="231" height="143" /></a>The Group of Twenty Finance Ministers and Central Bankers (G20) is targeting financial inclusion through the G20 Development Working Group (DWG), which is in the process of finalizing an agenda for its 2014 goals. The DWG focuses on developing an agenda for tackling development challenges, with the intent to remove constraints to sustainable growth and poverty alleviation. Recently, through our participation in InterAction’s G20/G8 Advocacy Alliance, CFI teamed up with other non-profits in the financial inclusion community to develop a set of recommendations for G20 leaders. While the Alliance and DWG span a diverse range of issues, our focus was, of course, on financial inclusion.

Our recommendations to the G20 were developed in coordination with CARE International UK, the Grameen Foundation, the Cherie Blair Foundation for Women, HelpAge USA, and the Microcredit Summit Campaign, among others. They urge governments to implement national strategies for financial capability and client protection, ensuring that these strategies and targets address a full suite of financial services and include underserved groups. You can read the full set of recommendations and contributing organizations <a href="http://www.interaction.org/document/2014-g20-financial-inclusion-recommendations">here</a>.

Last week we had the opportunity to discuss our recommendations with senior leadership from the Australian G20 presidency. As you may know, the G20 Presidency rotates each year, and this is Australia’s year. Each presidency takes a lead in setting the agenda and priorities, which are then discussed and (ideally) implemented by all G20 members.

The G20 Australian presidency issued a <a href="https://www.g20.org/news/g20_maps_out_its_plans_support_developing_countries_under_australia%E2%80%99s_2014_presidency">global development agenda</a>, which was supported by the DWG. It highlighted two major outcomes for 2014 related to financial inclusion and remittances. We were happy to see an expressed desire to move beyond a focus on cost reduction for remittances, where there has been a great deal of progress, to maximizing the potential of remittances to increase financial inclusion.

During the meeting, our financial inclusion team brought three key points to the conversation:

1. No Financial Inclusion without Financial Capability. An example illustrating this point is CARE’s work with village savings groups for women. In order to ensure that women will benefit from the new formal financial services made possible when savings groups are linked to banks, we must ensure that the women will have the combination of knowledge, skills, attitudes, and ultimately behaviors that translate into sound financial decisions and the appropriate use of the new formal services. The methodology of savings groups is conducive to teaching members about financial services. While the G20 has been supportive of financial capability building efforts, we are calling for countries to incorporate lessons from behavioral economics and also ensure that government-to-person payments promote financial capability.

2. One Product Does Not Mean Full Financial Inclusion. Along with its support of financial capability, we’d like to applaud the G20 Development Working Group’s focus on remittances and migrants (one of the vulnerable groups we’ve identified in our Financial Inclusion 2020 (FI2020) project). But let’s not look at remittances as a stand-alone product. Remittances can be an on-ramp to additional financial services. In our FI2020 consultative process, Developing Markets Associates shared one <a href="http://www.dmassocs.com/case-offering-free-financial-consulting" target="_blank" rel="noopener">innovative model</a> with us, which provides financial counseling to remittance recipients, encouraging them to open a savings account.

3. National Strategies Should Focus on the Most Vulnerable Populations Backed by Data. While the current development agenda references vulnerable groups, such as youth, women, and migrants, we asked that the DWG also include the following groups: persons with disabilities, older adults, the extremely poor, rural households, refugees, subsistence farmers, and the LGBT community. We highlight a particular population that is growing in importance: older adults. In fact, older adults are the fastest growing population in the world and by 2050 will reach <a href="http://www.helpageusa.org/what-we-do/rights/rights-policy/un-openended-working-group-on-aging/protecting-the-rights-of-older-people/">2 billion people</a>. In this light, when countries develop national strategies for financial inclusion, they need to make sure that vulnerable groups are fully considered. To ensure that we are doing this, countries should track data for each vulnerable group.

During the meeting, we learned that the G20 Development Working Group is working with the Global Alliance for Financial Inclusion (<a href="http://www.gpfi.org/" target="_blank" rel="noopener">GPFI</a>) to push the development agenda beyond government stakeholders to include private sector players (e.g. telecommunications companies, technology providers, insurance providers, private banks, NGOs). This is a new step for the GPFI, which has traditionally focused on government stakeholders. We agree with the new orientation. The promotion of public-private partnerships will be vital to increase financial capability building and create on-ramps to financial inclusion.

We encourage you to review our <a href="http://www.interaction.org/document/2014-g20-financial-inclusion-recommendations" target="_blank" rel="noopener">recommendations</a> and comment if you would like to suggest other priorities for the G20 Development Working Group.

Image credit: <a href="https://www.g20.org/" target="_blank" rel="noopener">G20</a>
Have you read?
<a href="http://cfi-blog.org/2013/05/02/g20-financial-inclusion-indicators-the-new-data-sandbox/" target="_blank" rel="noopener">G20 Financial Inclusion Indicators: The New Data Sandbox</a>
<a href="http://cfi-blog.org/2013/06/25/financial-inclusion-and-the-post-2015-global-development-goals/" target="_blank" rel="noopener">Financial Inclusion and the Post-2015 Development Goals</a>
<a href="http://cfi-blog.org/2013/11/01/what-is-financial-capability/" target="_blank" rel="noopener">What Is "Financial Capability?"</a>

CFI Joins Industry Leaders in Impressing Financial Inclusion to the G20

&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Consultant, CFI

Tomorrow, people around the world will celebrate <a href="http://www.internationalwomensday.com/" target="_blank" rel="noopener noreferrer">International Women’s Day</a>. In honor of the day, and the tremendous impact that financial services can have for women, we’d like to highlight some of the top resources from the past year that focus on financial inclusion of women. Though there are many great resources out there, below are a few that have caught our attention.

1. <a href="http://siteresources.worldbank.org/EXTGLOBALFIN/Resources/8519638-1332259343991/N9gender.pdf" target="_blank" rel="noopener noreferrer">Findex Notes: Women and Financial Inclusion</a>

<a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/213907/promoting-womens-financial-inclusion-toolkit.pdf" target="_blank" rel="noopener noreferrer"><img class="alignright wp-image-14216" src="http://centerforfinancialinclusionblog.files.wordpress.com/2014/03/a-toolkit.png" alt="" width="240" height="340" /></a>Drawing from the Global Findex Database, the World Bank and the Bill and Melinda Gates Foundation created a briefing on the state of women’s access to and use of financial services globally. It’s a concise snapshot of financial inclusion data on women. It highlights gaps that persist for women, as compared to men, globally and across regions. It looks at variations in account ownership for savings and credit, as well as barriers to usage identified by women. And if you’re looking for more, I suggest exploring the <a href="http://datatopics.worldbank.org/financialinclusion/" target="_blank" rel="noopener noreferrer">Findex database</a> or the <a href="http://www.centerforfinancialinclusion.org/fi2020/mapping-the-invisible-market/data-explorer" target="_blank" rel="noopener noreferrer">CFI Data Explorer</a> and conducting your own analyses!

2. <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/213907/promoting-womens-financial-inclusion-toolkit.pdf" target="_blank" rel="noopener noreferrer">Promoting Women’s Financial Inclusion: A Toolkit</a>

DFID and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development prepared a toolkit aimed at policymakers, donors, and NGOs who want to learn how to design and implement programs to enhance the financial inclusion of women. It provides insight into factors that contribute to financial exclusion of women and offers recommendations to address access barriers. In addition, the toolkit provides methods for client segmentation as well as several illustrative case studies. Rather than suggesting focusing on women exclusively, the toolkit also recommends understanding the distinct needs of men.

3. <a href="http://www.ifc.org/wps/wcm/connect/topics_ext_content/ifc_external_corporate_site/ifc+sustainability/publications/publications_report_vv-sme" target="_blank" rel="noopener noreferrer">Ready for Growth: Solutions to Increase Access to Finance for Women-Owned Businesses in the Middle East and North Africa</a>

Vital Voices, MENA Businesswomen’s Network, and the IFC partnered on a report that explores solutions to increase access to finance for women in the Middle East and North Africa. Drawing from an in-depth survey of over 430 women from eight countries in MENA, the report reveals that many women face barriers in accessing finance (41 percent of those surveyed), citing high interest rates (67 percent) and lack of collateral (36 percent) as the main obstacles. In addition, many of the surveyed women expressed high demand for greater access to information and training to grow their businesses. With this expansion, access to financial services will be vital. Along with insightful data, the report includes recommendations on improving access to finance, developing tailored products, and overcoming barriers that women face.

4. <a href="http://www.oecd.org/daf/fin/financial-education/TrustFund2013_OECD_INFE_Women_and_Fin_Lit.pdf" target="_blank" rel="noopener noreferrer">Women and Financial Literacy: OECD/INFE Evidence, Survey and Policy Responses
</a>

<a href="http://www.oecd.org/daf/fin/financial-education/TrustFund2013_OECD_INFE_Women_and_Fin_Lit.pdf" target="_blank" rel="noopener noreferrer"><img class="alignright wp-image-14222" src="http://centerforfinancialinclusionblog.files.wordpress.com/2014/03/oecd-infe.png" alt="" width="240" height="337" /></a>In a report released mid last year, the OECD International Network on Financial Education (INFE) discusses data that illustrates gender differences in financial literacy levels. The findings indicate that in many countries women are less financially literate as well as less confident in their abilities than men. Additionally, the report explains the consequences of low financial literacy levels and points to potential explanations for why gender differences may exist, such as the effects of differing test formats or the influence of social networks. In response to the prevailing gap, the report considers ways to address barriers that women may face, drawing from existing policies and initiatives targeted at the needs of women and girls.

5. <a href="http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/GSMA-mWomen-Visa_Unlocking-the-Potential_Feb-2013.pdf" target="_blank" rel="noopener noreferrer">Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets</a>

Visa, GSMA’s mWomen, and Bankable Frontier Associates (BFA) have prepared a report that looks at how best to design mobile financial services, based upon data collected by BFA in Indonesia, Kenya, Pakistan, Papua New Guinea, and Tanzania. The report illustrates preferences and barriers to access, gleaned through interviews with women at the base of the pyramid. To share a few insights, 63 percent of women in Tanzania perceived savings groups as reliable and secure, while 86 percent of women in the country who use formal institutions for savings find them to be reliable and secure. For many of the services that women often use, mobile financial services can increase security and simplify processes. This is true for payments women typically make (utilities, school expenses), money transfers and remittances, and government-to-person-payments.

BONUS! We tried to stay with 5, but couldn’t resist highlighting another resource that we covered in <a href="http://cfi-blog.org/2013/12/20/adding-gender-to-the-microfinance-bottom-line/" target="_blank" rel="noopener noreferrer">an earlier post</a> by Jaclyn Berfond.

<a href="http://www.womensworldbanking.org/wp-content/uploads/2013/09/Womens-World-Banking-Gender-Performance-Indicators.pdf" target="_blank" rel="noopener noreferrer">Gender Performance Indicators: How Well Are We Serving Women?</a>

Have you been searching for a vetted framework for tracking and measuring institutional gender performance? Building on the work of the social performance community, Women’s World Banking (WWB) created an analytic framework of gender performance indicators, organized around three themes: Client-Centric Focus, Institutional Focus, and Financial and Social Outcomes. To support the development of these indicators, WWB piloted them with three microfinance institutions: Ujjivan Financial Services in India; Finance Trust in Uganda; and Fundación Delamujer in Colombia. Each indicator is ranked based upon its expected degree of complexity to implement, identifies responsible actors, and has corresponding data from the pilot organizations. Providers, take note. This is the best resource out there for measuring gender performance. And don’t forget to disaggregate any collected data!

What were your favorite resources of 2013, centered on financial inclusion of women?

Have you read?

<a href="http://cfi-blog.org/2013/03/08/international-womens-day-2013-where-are-we-with-womens-access-to-financial-services/" target="_blank" rel="noopener noreferrer">International Women's Day 2013: Where Are We With Women's Access to Financial Services</a>

<a href="http://cfi-blog.org/2012/03/08/congratulations-its-international-womens-day/" target="_blank" rel="noopener noreferrer">Congratulations, It's International Women's Day!</a>

<a href="http://cfi-blog.org/2011/03/08/women-and-microfinance-whats-there-to-celebrate-today/" target="_blank" rel="noopener noreferrer">Women and Microfinance: What's There to Celebrate Today?</a>

Top Five Resources of 2013 on Financial Inclusion of Women

&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Consultant, CFI
<a href="http://www.flickr.com/photos/31565856@N07/10797254835/" target="_blank" rel="noopener"><img class="aligncenter wp-image-13492" style="border: 0;margin-top: 15px;margin-bottom: 15px" src="http://centerforfinancialinclusionblog.files.wordpress.com/2013/12/10797254835_6149f77575_c.jpg" alt="" width="600" height="399" /></a>Microinsurance matters, especially as we see an increase in climate change related disasters.
On October 28, Alexia Latortue of the U.S. Treasury moderated <a href="http://www.centerforfinancialinclusion.org/fi2020/global-forum/opening" target="_blank" rel="noopener">the opening plenary</a> of the Financial Inclusion 2020 Global Forum featuring two leaders in microinsurance, Michel Khalaf of MetLife and Martyn Parker of Swiss Re. One of Alexia’s remarks at the Global Forum deeply resonates with me today: “The occurrence of a risk event can set a family back an entire generation.” Among other things, she suggested, there are new and emerging risks linked to climate change.

Shortly after the Forum, we saw haunting evidence of this. On November 8, Typhoon Haiyan devastated much of the Visayas region in the Philippines, with the city of Tacloban being the hardest hit. Typhoon Haiyan is a reminder of why we must prepare to face natural disasters. Microinsurance is one form of advance preparation that can prove instrumental in the disaster rebuilding stage.

In a disaster prone country such as the Philippines, where over <a href="http://data.worldbank.org/indicator/SI.POV.2DAY" target="_blank" rel="noopener">41 percent</a> of the population lives on under $2 per day, ensuring greater access to microinsurance could make an enormous impact. In the country’s rural areas, which encompass roughly half of Filipinos and about 80 percent of those living in poverty, agriculture is the primary source of income. Government data from 2009 indicates that poverty among fishermen is at 41 percent, with farmers close behind at 36 percent. Think about the opportunities for providing microinsurance to farmers and fishers, whose livelihoods and families depend on productive land and assets that can be tremendously affected by weather!

What does the microinsurance industry look like in the Philippines? Of nearly 97 million Filipinos, only 8 million are covered by microinsurance, according to a <a href="http://www.adb.org/sites/default/files/pub/2013/assessment-microinsurance-service-for-poor.pdf">report</a> released in April by the Asian Development Bank (ADB).

Several organizations and providers are working to address this gap and the 8 million figure represents a rapid rise in recent years. In 2008 only 3 million individuals had microinsurance. MicroEnsure, for example, offers <a href="http://www.microensure.com/news.asp?id=283&amp;start=0">calamity insurance</a> for retailers as a part of its “Triple 10” package. The product costs 205 pesos (about US$6) a year and provides life insurance, burial assistance, medical reimbursement, and fire and calamity assurance of 10,000 pesos each. This service fulfilled claims of Filipino clients in response to both Tropical Depression Maring and a monsoon this August. For more on calamity insurance in the Philippines, see this note prepared by the <a href="http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/913-condensed-milk-17-doing-the-math-with-calamity-microinsurance-in-the-philippines.html">MicroInsurance Centre’s MILK Project.</a>

The <a href="http://devplan.neda.gov.ph/">Philippine Development Plan</a> (2011–2016) suggests the government’s willingness to further innovate and reform in order to increase the reach of financial services through the promotion of inclusive finance. However, as indicated in the ADB report, there’s more that the government can do. The report specifically points to the following:
<ul>
 	<li>Address remaining regulatory challenges and build the capacity of the country’s Insurance Commission</li>
 	<li>Promote the innovation of products that address more than one risk</li>
 	<li>Harness public-private sector partnerships</li>
 	<li>Promote the development of climate change-linked microinsurance products</li>
</ul>
This last point is most intriguing to me. The government could encourage competition among providers to develop innovative products linked to climate change and disasters, as this market is largely untapped. Perhaps it could increase foreign investment, particularly in light of the opening represented by new legislation that allows foreign investors to own up to 60 percent equity of rural banks.

The microinsurance industry is looking for ways to help low-income Filipinos rebuild and prepare for future disasters. How can they tap into this underinsured market and more effectively reach the poor?

Image credit: <a href="http://www.flickr.com/photos/31565856@N07/10797254835/" target="_blank" rel="noopener">Mans Unides</a>

Have you read?

<a href="http://cfi-blog.org/2011/04/14/the-philippines-wants-to-be-first-can-it-get-there/" target="_blank" rel="noopener">The Philippines Wants to Be First. Can It Get There?</a>

<a href="http://cfi-blog.org/2013/09/18/how-financial-literacy-can-help-build-the-market-for-microinsurance/" target="_blank" rel="noopener">How Financial Literacy Can Help Build the Market for Microinsurance</a>

<a href="http://cfi-blog.org/2013/12/05/a-smoother-road-to-building-quality-insurance-at-scale/" target="_blank" rel="noopener">A Smoother Road to Building Quality Insurance at Scale</a>

Microinsurance for All in the Wake of Typhoon Haiyan

&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Project Coordinator, CFI <a href="http://cfi-blog.org/category/financial-inclusion-2020/" target="_blank" rel="noopener"><img class="alignright" style="border: 0" src="http://centerforfinancialinclusionblog.files.wordpress.com/2012/12/blogseries.jpg?w=300&amp;h=66" alt="" width="300" height="66" /></a>

The following post was <a href="http://www.youtheconomicopportunities.org/blog/1159/roadmap-inclusion-insights-youth-financial-capability" target="_blank" rel="noopener">originally published</a> on the Youth Economic Opportunities blog.

The <a href="http://www.centerforfinancialinclusion.org/programs-a-projects/financial-inclusion-2020" target="_blank" rel="noopener">Financial Inclusion 2020</a> campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. Accordingly, this blog series will spotlight financial inclusion efforts around the globe, share insights coming out of the creation of a roadmap to full financial inclusion, and highlight findings from research on the “invisible market.”

In 2011 only 17 percent of young adults (ages 15-24) <a href="http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTRESEARCH/EXTPROGRAMS/EXTFINRES/EXTGLOBALFIN/0,,contentMDK:23147627~pagePK:64168176~piPK:64168140~theSitePK:8519639,00.html" target="_blank" rel="noopener">saved in a formal institution</a> in Nigeria, only 9 percent in Tanzania, and only 1 percent in the Democratic Republic of the Congo. These numbers remind us that youth financial inclusion is far from reality in many countries, especially low income countries with rapidly expanding youth populations (as indicated in CFI’s report <a href="http://www.centerforfinancialinclusion.org/fi2020/mapping-the-invisible-market/demographic-windowhttp:/centerforfinancialinclusionblog.files.wordpress.com/2013/02/looking_through_the_demographic_window.pdf" target="_blank" rel="noopener">Looking Through the Demographic Window: Implications for Financial Inclusion</a>.)

<a href="http://www.financialinclusion2020.org/" target="_blank" rel="noopener">Financial Inclusion 2020</a> (FI2020) at the CFI is building a movement that mobilizes stakeholders around the globe to achieve financial inclusion by the year 2020. As a part of this global campaign, we are focusing on client segments that have specific needs, including youth. FI2020’s working group on <a href="http://www.centerforfinancialinclusion.org/fi2020/roadmap-to-inclusion/key-messages" target="_blank" rel="noopener">Financial Capability</a>, one of five expert working groups creating a <a href="http://www.centerforfinancialinclusion.org/fi2020/roadmap-to-inclusion/key-messages" target="_blank" rel="noopener">Roadmap to Financial Inclusion</a>, shares insights into the group’s findings on youth and financial services:

1. Incorporate what we know about youth learning and behavior change into financial capability intervention design. Habit formation is important - for example, learning to look both ways before crossing a street. Establishing the savings habit early could set youth on a path to lifetime financial capability, according to a report from the <a href="http://assets.newamerica.net/sites/newamerica.net/files/policydocs/Creating_Creatures_of_Habit_Final.pdf" target="_blank" rel="noopener">New America Foundation</a>. This report outlines the virtuous chain of connections from savings, to asset ownership, which leads to positive emotions and that promotes further sound financial behavior.

2. Providers are well-placed to contribute to youth financial capability building. Providers are uniquely positioned to help young clients develop financial capability. They have access to customers at the teachable moments when information matters most. They already invest in marketing, and a range of client interfaces can be adapted at low cost to provide financial capability messaging, potentially at significant scale. Further, they can design products that incorporate insights from behavioral economics, with features like automatic reminders or rewards.

<img class="alignright wp-image-11043" src="http://centerforfinancialinclusionblog.files.wordpress.com/2013/04/img_0004.jpg" alt="" width="300" />

Panabo Multi-Purpose Cooperative (PMPC), in the Philippines, for example, provides a “Kiddie” account (ages 0-12) and a “Power Teen” account (ages 13-18). Children receive a coin bank upon opening an account; teens receive mugs or key chains. <a href="http://www.makingcents.com/pdfs/resources/caseStudy10/PanaboMultipurpose_CaseStudyNo.6_September2009.pdf" target="_blank" rel="noopener">PMPC found</a> that the younger children respond well to rewards, but older youth respond more positively to recognition and the opportunity to serve as “youth ambassadors” at credit union events. Through partnering with schools, PMPC provides training, seminars, and fun activities. PMPC has also built an internal framework of management support for youth financial services. Since 2009, PMPC has incorporated an Aflatoun education program and has seen increased participation of youth in the two accounts.

3. Technology provides opportunities to deliver capability-building messages through financial literacy apps and games for youth. I wish I had this game when I was a child: an interactive fantasy kingdom that teaches about finance! At <a href="http://www.playmoolah.com/" target="_blank" rel="noopener">Play Moolah</a> children can make their own decisions and learn about money management. For older youth, there is <a href="http://financialentertainment.org/" target="_blank" rel="noopener">D2D</a>, where players can play games such as “Bite Club” (managing a vampire disco club), or “Farm Blitz” (harvesting crops for your uncle’s farm while warding off hungry rabbits who represent debt), according to The <a href="http://www.economist.com/news/finance-and-economics/21571156-clicking-your-way-sound-financial-habits-blood-bars-and-debt-bunnies" target="_blank" rel="noopener">Economist</a>.

D2D’s randomized comparison trial of Farm Blitz compared game players with others assigned to read a financial education pamphlet. A follow-up survey yielded statistically significant improvements for all, with a regression analysis indicating slightly higher knowledge gains for pamphlet readers. This suggests that <a href="http://www.d2dfund.org/files/publications/D2D_FE-Report_Pages_0.pdf" target="_blank" rel="noopener">financial literacy games have the ability</a> to be nearly as effective as reading a pamphlet, but the added bonus is that the game will attract consumers who are less likely to read a pamphlet.

 4. Countries benefit from national financial capability strategies that include primary and secondary financial education. Support for national financial education strategies is growing, according to the <a href="http://www.oecd-ilibrary.org/finance-and-investment/current-status-of-national-strategies-for-financial-education_5k9bcwct7xmn-en" target="_blank" rel="noopener">OECD</a>. There is some evidence that the incorporation of a national strategy for financial education has led to increased collaboration among the public and private sectors in Brazil, New Zealand, and the United Kingdom. It also provided the opportunity for projects that would have not been considered without a national strategy. The Czech Republic conducted a national baseline survey on financial literacy and a working group on financial education to inform its strategy, while Malaysia established a number of formal frameworks and institutional pathways, which have the potential to support future financial education or consumer protection initiatives.

According to the OECD, financial education strategies have already been implemented in Brazil, Ghana, Czech Republic, Malaysia, Australia, Ireland, Japan, Netherlands, New Zealand, Portugal, Slovenia, Spain, the United Kingdom, and the United States. Yet, countries need to do much more work on evaluating the impact of these programs.

These insights from the FI2020 financial capability working group are a work in progress, and we are seeking further input. Are we missing an important component relevant to youth? Please let us know!

If you are interested in participating in FI2020, please email Adriana Magdas: <a href="mailto:amadgas@accion.org">amadgas@accion.org</a>. Some ways to engage include: sharing our findings with your partners or writing a blog post. For more information on Financial Inclusion 2020, <a href="http://bit.ly/FI2020signup" target="_blank" rel="noopener">sign up for campaign updates</a>.

Image credit: <a href="http://playmoolah.com/blog/2013/03/sekolah-bisa-indonesia/" target="_blank" rel="noopener">PlayMoolah</a>

Have you read?

<a href="http://cfi-blog.org/2013/04/19/girl-scouts-spearhead-financial-literacy-study/" target="_blank" rel="noopener">Girl Scouts Spearhead Financial Literacy Study</a>

<a href="http://cfi-blog.org/2013/03/27/are-youth-inclusive-financial-services-in-mena-a-driver-of-financial-inclusion/" target="_blank" rel="noopener">Are Youth-Inclusive Financial Services in MENA a Driver of Financial Inclusion</a>

<a href="http://cfi-blog.org/2012/09/27/child-and-youth-finance-governments-step-in/" target="_blank" rel="noopener">Child and Youth Finance - Governments Step in</a>

Four Insights into Youth Financial Capability

<a href="http://cfi-blog.org/category/financial-inclusion-2020/" target="_blank" rel="attachment noopener wp-att-8901"><img class="alignright size-medium wp-image-8901" style="border: 0;margin-top: 5px;margin-bottom: 5px" src="http://centerforfinancialinclusionblog.files.wordpress.com/2012/12/blogseries.jpg?w=300" alt="" width="300" height="66" /></a>&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Project Coordinator, CFI

The <a href="http://www.centerforfinancialinclusion.org/programs-a-projects/financial-inclusion-2020" target="_blank" rel="noopener">Financial Inclusion 2020</a> campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. Accordingly, this blog series will spotlight financial inclusion efforts around the globe, share insights coming out of the creation of a roadmap to full financial inclusion, and highlight findings from research on the “invisible market.”

Just imagine for a minute. You are in your late 20's and about to go on a second date. You are really looking forward to it; after all, your date is attractive and shares your interests. Everything seems to be going great, until your date brings up his/her excellent credit score and then asks about yours. What do you say?

A recent article in the New York Times, “<a href="http://www.nytimes.com/2012/12/26/business/even-cupid-wants-to-know-your-credit-score.html?_r=0" target="_blank" rel="noopener">Perfect 10? Never Mind That. Ask Her for Her Credit Score</a>,” inspired this scenario. When my boyfriend and I applied for our lease, naturally we talked about credit scores, as it was a part of the application process. Luckily, we were okay. But, I can see how this could be contentious for a couple if one person has a poor credit score.

While a credit score should not be a “deal-breaker,” as one interviewee suggests, this article provides evidence that the perceived value of a credit score is taking unexpected turns among younger adults in the United States.

This is good news and bad news for champions of credit reporting. On the one hand, it shows increasing awareness of the importance of a credit score. On the other hand, credit bureaus don’t want to be seen as the bad guys. For those who are pushing to use credit reporting to include people in financial systems, it doesn’t help to have a bad rap about the ways negative credit reporting can kill not only a financial dream but now a dating relationship as well! Champions of credit bureaus would much rather focus on how a credit history can be used to give people access to credit and protect them from over-indebtedness.

But what about those who have no credit history?

There is hope, according to Michael A. Turner, Ph.D., President and CEO of <a href="http://perc.net/content/alternative-data-initiative-adi" target="_blank" rel="noopener">Policy and Economic Research Council</a> (PERC) and a member of CFI’s <a href="http://www.centerforfinancialinclusion.org/programs-a-projects/financial-inclusion-2020/building-a-roadmap-to-financial-inclusion-the-consultative-process" target="_blank" rel="noopener">Credit Reporting Experts' Working Group</a>. Michael points to the use of alternative data sources to build a credit history, saying that "technology and data on clients are there.” PERC and the Brookings Institution together have identified that in the U.S. utilizing positive credit reporting increased credit access by 22 percent for Hispanics and Blacks and by 14 percent for young and elderly Americans.

<a href="http://onyoursidedebtrelief.com/benefits-of-debt-settlemet/" target="_blank" rel="attachment noopener wp-att-9333"><img class="alignright wp-image-9333" style="border: 0" src="http://centerforfinancialinclusionblog.files.wordpress.com/2013/01/young_couple_meeting_with_businessman.jpg?w=300" alt="" width="280" /></a>What potential could a similar approach hold for the underserved around the world? In <a href="http://www.cgap.org/sites/default/files/CGAP-Forum-Credit-Reporting-at-the-Base-of-the-Pyramid-Oct-2011.pdf" target="_blank" rel="noopener">one example from the Consultative Group to Assist the Poor</a> (CGAP), many low-income clients “have access to retail credit or to post-paid utilities” long before they have access to formal credit. Including these providers in credit reporting can be highly beneficial in establishing credit histories for those who have not had access to credit. For example, the use of utility bills already occurs in some countries across Latin America, as retailers have a history of collecting and sharing payment data on both individuals and firms. Rather than using poor behavior to blacklist people, positive credit reporting— such as tracking payments of utility or telephone bills on time—offers an opportunity to further build a credit score instead of harming it. Typically, negative behavior is given much more attention than positive behavior. This demonstrates a shift to positive reinforcement.

<a href="http://www.nytimes.com/2013/01/09/technology/a-financial-service-for-people-fed-up-with-banks.html?_r=0" target="_blank" rel="noopener">Simple</a>, a financial services startup, offers clients an online platform for free checking, and an extensive data analysis of client transactions and spending habits are actually shared with the client. That’s a topic for another blog post, but it underlines the influence of big data. Another financial services startup, <a href="https://www.demystdata.com/about/data_dictionary_ext" target="_blank" rel="noopener">DemystData</a>, uses alternative data from over 50 sources to assist financial institutions in a more comprehensive credit evaluation of prospective clients. Along with financial data, they also utilize social media data sources which include Myspace, LinkedIn, Facebook, Google Plus, and Twitter.

Some see this as creative, cost-effective, and the great hope for millions of excluded people. Others see it as creepy.  Romantic partners use their intuition to decide when and how to broach potentially sensitive topics. Businesses, however, must follow clear and transparent standards of client protection and confidentiality. Alternative data sources for credit reporting can help provide a path to inclusion for many, but these innovations must go hand in hand with protecting clients from intrusive uses of data.

For more information on Financial Inclusion 2020, <a href="http://bit.ly/FI2020signup" target="_blank" rel="noopener">sign up for campaign updates</a>.

Image credit: <a href="http://onyoursidedebtrelief.com/benefits-of-debt-settlemet/" target="_blank" rel="noopener">On Your Side Debt Relief</a>

Have you read?

<a href="http://cfi-blog.org/2013/01/02/credit-reporting-for-microfinance-it-can-be-done-just-ask-pakistan/" target="_blank" rel="noopener">Credit Reporting for Microfinance? It Can Be Done. Just Ask Pakistan</a>

<a href="http://cfi-blog.org/2012/11/21/microinsurance-on-the-road-map-to-financial-inclusion/" target="_blank" rel="noopener">Microinsurance on the Roadmap to Financial Inclusion</a>

<a href="http://cfi-blog.org/2012/11/07/seven-trends-to-watch-in-the-march-to-achieve-full-financial-inclusion-for-all/" target="_blank" rel="noopener">Seven Trends to Watch in the March to Achieve Full Financial Inclusion for All</a>

Adventures in Love and Credit Reporting

&gt; Posted by Amanda Lotz, Financial Inclusion 2020 Project Coordinator, CFI

<a href="http://google-africa.blogspot.com/2011/11/life-after-google-how-two-alums-are.html"><img class="wp-image-8158 alignright" style="border: 0" title="samasource 3" src="http://centerforfinancialinclusionblog.files.wordpress.com/2012/10/samasource-3.jpg" alt="" width="275" height="182" /></a>

Schwab Foundation describes a social entrepreneur as possessing a healthy impatience. Leila Janah arrived on a red eye to Washington to speak at the Business Civic Leadership Center (<a href="http://bclc.uschamber.com/">BCLC</a>) and then traveled back to San Francisco for another engagement that afternoon. I’d call that a little healthy impatience.

I was fortunate to attend the <a href="http://bclc.uschamber.com/event/2012-global-corporate-citizenship-conference">Global Corporate Citizenship Conference</a> at the BCLC in the company of a highly socially conscious audience to listen to Janah, founder and CEO of <a href="http://samasource.org/">Samasource</a>.

Initiated in Kenya in 2008, Samasource provides people at the base of the pyramid, currently earning less than a living wage, with the opportunity to earn a sustainable source of income in support of complex digital projects needed by large enterprises, such as Google and eBay.  Through in-country partners, employees are recruited and validated. Using the internet, Samasource equips its employees with technological skills and 2-4 weeks of training. It then connects them to digital work that requires a “human touch” and is not easily completed by automated systems. Even better, the target employees of Samasource are women and youth (two client populations to consider when discussing current financial inclusion challenges). Since its inception, Samasource has expanded operations to a total of nine countries, including India, Haiti and Pakistan – more evidence of healthy impatience.

CFI’s <a href="http://www.centerforfinancialinclusion.org/programs-a-projects/financial-inclusion-2020">Financial Inclusion 2020</a> campaign identifies the client perspective as a central component to its campaign for full financial inclusion. The campaign promotes a message found in the CFI paper “<a href="http://www.centerforfinancialinclusion.org/publications-a-resources/browse-publications/205-opportunities-and-obstacles-to-financial-inclusion">Opportunities and Obstacles to Financial Inclusion</a>”: The message is, “It’s the clients, stupid.”

Women are a core client population in microfinance, while youth are less likely to have access to financial services. Organizations such as Women's World Banking have taken steps to evaluate gender differences, as in their <a href="http://www.swwb.org/sites/default/files/pubs/en/microinsurance_that_works_for_women_e.pdf">report</a>, “Microinsurance That Works For Women: Making Gender-Sensitive Microinsurance Programs.” The YouthSave Consortium, a collaborative initiative spearheaded by Save the Children, the Center for Social Development, New America Foundation and CGAP, consider what youth need to reposition themselves on a path to their best possible economic future. Save The Children conducted particularly interesting research exploring <a href="http://youthsave.org/sites/youthsave.org/files/YouthSave%20Market%20Research%20Report_FINAL.pdf">“What do Youth Savers Want?”</a> One key obstacle for the youth identified in this study is the lack of secure, safe places to save (where parents or siblings cannot access their money). These studies serve as only a pair of many insights into how to better serve clients and inform providers of financial services.

Janah’s talk generated questions about Samasource’s client population and microfinance. Are the women and youth who find work through Samasource saving their money? In a financial institution? Do they use M-PESA to move their money and make payments? Have any of them received financial literacy training?

I wondered whether Samasource works with any microfinance institutions or organizations. Janah expressed interest in exploring these questions but did not suggest that it is part of the current model. As Samasource continues to scale up and increase its reach, I hope that it begins to consider the opportunity to maximize its impact through partnering with organizations or MFIs who provide inclusive financial services.

For more information about CFI’s Financial Inclusion 2020 campaign, sign up for updates <a href="http://bit.ly/FI2020signup">here</a>.

Image Credit: <a href="http://google-africa.blogspot.com/2011/11/life-after-google-how-two-alums-are.html">Google Africa Blog</a>

Have You Read?
<a href="http://cfi-blog.org/2012/10/02/half-the-sky-turning-oppression-into-opportunity-for-women-worldwide/">Half the Sky: Turning Oppression into Opportunity for Women Worldwide</a>
<a href="http://cfi-blog.org/2012/10/01/lend-to-the-student-collect-from-the-professional/">Lend to the Student, Collect from the Professional</a>
<a href="http://cfi-blog.org/2012/09/27/child-and-youth-finance-governments-step-in/">Child and Youth Finance - Governments Step in</a>

Amanda Lotz

Latest by Amanda Lotz