Breaking barriers, building inclusion

By focusing on measures that make financial services available to households and small and medium enterprises, G20 has the potential to make a real difference in people's lives

Financial inclusion has emerged as a critical issue in developing and developed nations, as it enables disadvantaged populations to access financial services and opportunities they would not otherwise have. However, despite the progress in expanding financial inclusion, around one-third of adults still lack access to formal financial services, meaning approximately 1.7 billion people worldwide are unbanked, according to the latest Findex Report by the World Bank.

Financial inclusion has been linked to up to 14 per cent growth in gross domestic product in developing economies. The lack of access to financial services affects women disproportionately, with only 47 per cent of