Financial inclusion makes individuals and households financially stronger and more resilient, and makes communities, nations, and the world more prosperous and secure. Connecting people to the financial system creates stability, and we all gain when individuals are able to withstand financial shocks and expand their economic potential.
Successful financial inclusion provides individuals and businesses with access to financial products and services that are useful, affordable, and delivered in a responsible and sustainable way. Access to safe and affordable financial services enables individuals and businesses to transfer money, make payments, manage income volatility, save for specific financial goals, access credit, and insure against risks. Progress expanding financial inclusion in recent years has helped stimulate broad-based economic growth in developed and developing economies and is critical to reaching the Sustainable Development Goals adopted by the international community in 2015.
The U.S. Department of the Treasury and the U.S. Agency for International Development (USAID) cohosted Financial Inclusion Forums in 2015 and 2016. These forums each convened a diverse group of leaders from the U.S. and foreign governments, financial institutions and other corporations, and nonprofits. Participants explored ways to foster greater access to safe and affordable financial services for everyone.
The following links provide more information about the Department of the Treasury’s work to promote financial inclusion globally and here in the U.S.