“The financial engine for half the world’s jobs is about to seize up,” argues Accion’s President and CEO Michael Schlein in this piece from The Economist. “Decades of progress on reducing poverty and increasing financial inclusion—all of that is at risk,” Michael adds.
The piece highlights the “existential crisis” facing microlenders around the world, who are essential to the global economic recovery from today’s pandemic. It also features numerous Accion partners—BancoSol in Bolivia, Dvara Trust in India, Lulalend in South Africa, and Pintek in Indonesia—that are finding new ways to support underserved populations and small businesses around the world.