Financial System Development

Financial sector stability and capital market development.
A properly functioning and stable financial system is crucial to solid economic development. Equally, a stable regulatory framework is essential to ensure the proper allocation and agglomeration of capital. 

In many developing countries, people in need have no access to financial services of the kind they need. However, it is possible to improve this situation through holistic support for the finance sector. This involves advising central banks on how to create an enabling environment for a properly functioning microfinance sector; setting up credit reference agencies to provide greater transparency; and helping microfinance associations make effective use of standardised tools to monitor and rate microfinance institutions.

Insurance plays an important role in alleviating the financial impacts of tragedies such as illness or extreme weather for people with low incomes, and is a sustainable means of preventing such events from triggering a slide into poverty. 


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