Newsflash: World Bank President Sets Goal of Universal Financial Access by 2020

> Posted by Center Staff

Today at the World Bank annual meetings, Jim Yong Kim stated, “We will use our knowledge to become a bolder institution. Let me give you one example. We’re launching today an initiative to provide universal financial access to all working-age adults by 2020. Globally, 2.5 billion adults have no mechanisms to save money, let alone pay bills through a savings account or a mobile phone. We believe we can chart a path toward universal financial access by bringing together multiple approaches and technologies. This is exactly the type of ambitious project that can help lift many people, especially women, out of poverty.”

We at Financial Inclusion 2020 are excited and heartened that the World Bank is willing to join us in the call for full financial inclusion by 2020.

Stand by for more on what this means for the World Bank and the world’s financially excluded next week.