Banking on the Unbanked
Despite significant gains in financial inclusion, a quarter of the planet still lacks a bank account or easy access to one. With bank accounts, budding entrepreneurs can establish their creditworthiness and tap responsible, formal lenders, enabling small enterprises to grow and create urgently needed employment, especially for young people.
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TORONTO – In a sea of gloomy news, one bright headline appears on the horizon. The World Bank’s latest figures on individuals’ bank accounts, to be released next spring, are expected to show that the number of people holding accounts at banks or other formal financial institutions has grown.