SCBF Annual Report 2023
SCBF releases its 2023 Annual Report: Driving Inclusion through Catalytic Finance
— Sitara Merchant, CEO of SCBF
ZURICH, SWITZERLAND, September 18, 2024 /EINPresswire.com/ — The global financial inclusion gap remains significant, with over 1.4 billion unbanked adults. Women face a 9% gender gap in low-income countries, while only 25% of rural adults in sub-Saharan Africa have formal financial access. Additionally, 60% of smallholder farmers are underserved in the region, highlighting the need for improved financial education, digital literacy, and tailored financial solutions for marginalised communities.
Since 2011, the Swiss Capacity Building Facility (SCBF) has worked to improve the lives of low-income populations, particularly women and those in rural areas, by promoting inclusive finance. Over the past 13 years, SCBF has helped to bridge the financial and gender gaps globally by partnering with industry leaders and financial sector experts, blending public and private resources to drive financial inclusion.
SCBF is pleased to announce the release of its 2023 Annual Report sharing the impact it has been able create on the ground over the years with support from its donors and project partners. The report provides an overview of the significant strides made by its interventions in advancing financial inclusion:
• Nearly 5 million lives impacted: SCBF’s work has directly benefited 4.9 million people with 60% being women and 60% residing in rural areas by providing them with tailored financial solutions to improve their lives.
• Over 3 million improved with financial literacy: Over 3 million individuals have received financial literacy training, equipping them with the knowledge to make informed financial decisions.
• Global reach: SCBF has successfully funded and supported 211 projects across 50 countries, demonstrating our commitment to global financial inclusion.
• Collaborative impact: SCBF’s efforts have supported 150 financial sector partners and 71 technical assistance providers, driving innovation and sustainability in financial services.
• Advancing UN Sustainable Development Goals (SDGs): SCBF projects support 12 of the 17 SDGs. Specifically, under SDG 13 (Climate Action), SCBF has positively impacted over 370,000 smallholder farmers by providing climate-related insurance, thereby enhancing their resilience and sustainability.
“The global climate crisis underscores the critical need for adaptability – says Sitara Merchant, CEO of SCBF. “In these uncertain times, finding creative ways to innovate and practical ways to address these challenges is paramount. SCBF’s new strategy focuses on strengthening alliances, expanding partnerships, and pursuing pioneering solutions. This shift will enable us to amplify our impact and drive meaningful, sustainable change.”
Looking Ahead:
The annual report also outlines the organization’s strategic priorities for the coming years, focusing on the nexus between finance and agriculture, health, housing, and inclusive finance enablers. Cross-cutting priorities include climate and the needs of women and migrants.
SCBF remains committed to improving the lives of low-income populations by providing access to inclusive financial solutions and expanding responsible financial services for underserved communities worldwide.
Read the SCBF 2023 Annual Report here.
About Swiss Capacity Building Facility (SCBF):
SCBF is a membership-based organisation promoting responsible financial inclusion. By leveraging the resources of its public and private members, SCBF fosters an enabling ecosystem for inclusive finance. The organisation provides catalytic finance and technical assistance support to financial sector partners, enabling them to design customised products and solutions for low-income individuals, smallholder farmers, and MSMEs. SCBF’s vision is to empower low-income populations, particularly women and those in rural areas, by enabling access to inclusive financial services. Website: www.scbf.ch
Contact:
Sarita Mohanty
Swiss Capacity Building Facility
+41 44 585 12 55
info@scbf.ch
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