| Poor people represent a largely untapped market for financial services. While some institutions are extending microfinance (very small savings, credit, and other financial services offered to a poor clientele), the supply is still far below demand. In recent years, several institutions have developed innovative ways to address the financial needs of the poor by offering new products to the marketplace that enable outreach to a much larger and more diverse population.
This note highlights five examples of institutional innovations in provision of sustainable financial services to the poor:
- Accion International
- BRAC in Bangladesh
- Information technology applications
- Kosovo's Micro Enterprise Bank Consultative Group to Assist the Poorest (CGAP).
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