An uneven recovery from the global pandemic. Tangled supply chains. Soaring prices. Political and social unrest. Low-income communities around the world are facing a tidal wave of economic challenges that threaten their livelihoods. According to the World Bank, pressures caused by the pandemic and rising inflation could push nearly 100 million people into extreme poverty, living on less than $1.90 per day. Meanwhile, 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 prolonged 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.