More than 100 million people are being pushed into poverty due to the devastating effects of the pandemic, according to World Bank estimates. As wealthy nations begin to recover, many vulnerable communities around the globe are still shuttered, facing continued outbreaks with no vaccine rollout in sight. The disparity between the developed and the developing world has never been greater—and it is growing.
Vulnerable people need help to get through this crisis and rebuild their lives. Accion partners with frontline financial service providers around the world who support the people and businesses historically overlooked — or poorly served — by traditional banks. These providers have found new ways to help their clients throughout the pandemic, including launching new digital products and training clients to use these innovative tools, which offer more security, flexibility, and opportunities than cash.
We continue to expand the reach, quality, and affordability of critical financial tools that help adapt against today’s challenges and build financial resilience. Ultimately, our work is laying the foundation for an inclusive global recovery that creates economic opportunity for everyone.