CGAP (Consultative Group to Assist the Poor) is an international partnership of organizations that seeks to advance financial inclusion for the poor. It is a consortium of over 30 development agencies, financial institutions, and foundations committed to improving access to financial services in order to alleviate poverty and foster economic development.
CGAP was established in 1995 as a platform for collaboration and knowledge sharing to address the challenges of financial inclusion. It serves as a hub for innovative ideas, research, and policy analysis in the field of microfinance and financial access. Through its partnership, CGAP aims to promote effective and inclusive financial systems that can serve the needs of the poor.
CGAP focuses on several key areas to achieve its objectives. These include enhancing the capacity of financial service providers to reach underserved populations, promoting digital financial services and technology-enabled solutions, advocating for consumer protection and responsible finance, and supporting policy and regulatory reforms to create an enabling environment for financial inclusion.
The organization conducts research to generate evidence and insights to inform policies and practices in the financial inclusion space. It also collaborates with governments, regulators, and industry stakeholders to design and implement impactful interventions that can improve financial access and address the specific needs of low-income individuals and communities.
Overall, CGAP is dedicated to reducing poverty and inequality through inclusive financial systems, and it plays a vital role in shaping the global agenda for financial inclusion.
