Inclusive Finance Frontiers

More than US$10.5 billion in cash assistance was delivered globally in 2022, according to the CALP Network. Yet the places with the greatest need are often the hardest to reach. Banks often pull out of high-risk regions, fees and foreign exchange margins can be opaque, and transfers can take days. 

In this episode, we ask whether stablecoins, now used by some humanitarian agencies, can fix these problems. We explore what stablecoins are, how they are regulated, and what happens when they meet the realities of crisis response. 

Guests 

• Ezechiel Copic, Director for Digital Currency Policy, Visa 

• Mercina Tillemann Perez, Vice President of Global Impact, Circle 

With a contribution from Ana Rosario Contreras, President, Caracas Nurse's Association and stablecoins user 

Resources mentioned 

• CGAP’s  Stablecoins in Humanitarian Cash Transfers 

• Earlier Inclusive Finance Frontiers episode, “Will Central Bank Digital Currencies e a Game-Changer for Financial Inclusion?” 

  On Spotify: https://open.spotify.com/episode/3gHOGVkb2kNFOWFYQDTYOk?si=MwOdWUrUSO-x1mBAbN_pcw

  On Apple Podcast: https://podcasts.apple.com/us/podcast/beyond-the-payroll-expanding-pension-coverage-to/id1057974369?i=1000796325800

  On Soundcloud: https://on.soundcloud.com/LTgUx8EluzMlXGR00z

• CALP Network's State of the World's Cash  

• Bank for International Settlements (BIS) Project Agora 

Producer: Lamis Daoud, CGAP External Affairs Officer 
Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program  
Executive Producer: Jahda Swanborough, CGAP Communications Lead  
© CGAP/World Bank Group, 2026 

By 2050, one in five people worldwide will be over 60, and most of them will live in low- and middle-income countries. Yet conventional pension schemes, built around formal employment, leave out the millions who live on unpredictable incomes. Women, in particular, are overrepresented in informal work and therefore most exposed to old-age poverty.

In this episode, we explore why conventional pension schemes leave so many behind, what contributory models for informal workers look like in practice, and what it will take to scale them. We also ask what structural, financial, and cultural barriers must be addressed for these schemes to deliver genuine security in old age.  

Guests:

Fiona Stewart, the Global Lead on Aging and Pension in the Social Protection Global Practice at the World Bank Group

Gaspard Bayigane, Head, Long-Term Savings Scheme at Ejo Heza, Rwanda Social Security Board

With a contribution from Protais Tuyisenge, Ejo Heza pensioner

Producer: Lamis Daoud, CGAP External Affairs Officer

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program

Executive Producer: Jahda Swanborough, CGAP Communications Lead

© CGAP/World Bank, 2026

As El Niño-driven droughts and intensifying hurricaneseasons push millions into crisis, one question is reshaping disaster finance:what if communities built financial resilience before the storm hits? Thisepisode explores two pioneering models — from Barbados and the Horn of Africa —proving that preparation can mean the difference between a shock and a crisis.

We examine how Barbados has built a layered nationaldisaster financing strategy and why digital payment infrastructure is just ascritical as the funds themselves. In the Horn of Africa, the DRIVE Project(De-risking, Inclusion and Value Enhancement of Pastoral Economies in the Hornof Africa) uses parametric insurance to protect pastoralists from drought, andhow intentional product design has ensured that 55% of its beneficiaries are women.

Guests:

• Dr., The Most Honorable Kevin Greenidge,Governor, Central Bank of Barbados
• Hope Murera, Managing Director and Group CEO, ZEP-RE

With a contribution from Charity Mueni, CommunityMobilizer, DRIVE Project, Kenya

Producer: Lamis Daoud, CGAP External Affairs Officer

Audio Editor and Sound Producer: Samantha Malhotra,World Bank Group Interactive Media Program 

Executive Producer: Jahda Swanborough, CGAPCommunications Lead 

© CGAP/World Bank, 2026

🎙 Our podcast, Inclusive Finance Frontiers, is back.
Agentic AI, stablecoins, inclusive insurance, and pensions for informal workers are reshaping finance for vulnerable communities, but what questions do they raise?
In a new limited series, we're digging into how emerging technologies and innovative approaches can help people navigate risk, build resilience, and access opportunity—if used responsibly. We'll hear from regulators, fintech innovators, investors, and global experts. But most importantly, from the people on the receiving end of these services.

Tune in every two weeks for a new episode. Follow Inclusive Finance Frontiers on your favorite platform to keep up with the latest conversations.

• Dr., The Most Honorable Kevin Greenidge, Governor, Central Bank of Barbados
• Ezechiel Copic, Director, Digital Currency Policy, Visa
• Fiona Stewart, Global Lead on Aging and Pension in the Social Protection Global Practice, World Bank Group
• Gabriela Eguidazu, Vice President Digital transformation and innovation, FMBBVA
• Gaspard Bayigane, Head of Long-Term Savings Scheme – Ejo Heza, Rwanda Social Security Board
• Hope Murera, Managing Director & Group CEO of ZEP-RE
• Iota Kaousar Nassr, Senior Analyst, OECD
• Mercina Tilleman Perez, Vice President Circle Impact, Circle
• Monica Brand Engel, Co-Founder and Managing Partner of Quona
• Nandini Harihareswara, Director, Fair Digital Finance, Consumers International

www.cgap.org/news-and-stories/podcast

Three years ago, conflict erupted in Sudan, and its toll continues to be devastating. The crisis has caused profound human suffering and dismantled the systems households once relied on to absorb shocks. The financial sector has been hit hard: liquidity has dried up, infrastructure destroyed, and social protection mechanisms unraveled. 

Humanitarian actors have scaled up cash assistance, but face serious obstacles: limited liquidity, fragmented financial service providers, and complex payment processes. This has resulted in accumulated delays of up to 200 days in delivering cash transfers in the midst of a severe humanitarian crisis. 

In this episode, we explore an emerging solution: the Shared Distribution Network (SEND), designed by CGAP and the Cash Consortium of Sudan to cut delays and improve cost-effectiveness.  

Featured Voices:   

• Rayan Nimir, Policy and Advocacy Advisor, Collective Sudan (formerly, Cash Consortium of Sudan) 

• William Cook, Senior Financial Sector Specialist, CGAP    

• Hiba Al-Madani, a cash recipient and small business owner in Sudan   

Producer: Lamis Daoud, CGAP External Affairs Officer  

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program   

Executive Producer: Jahda Swanborough, CGAP Communications Lead   

© CGAP/World Bank, 2026   

Special thanks to Sara Murray from CGAP for her expertise and insights that brought this episode to life, the Cash Collective for conducting the interview with Hiba Al-Madani, and Samah Salman for dubbing Hiba’s contribution.  

Listen and subscribe for free on your favorite platform. To learn more, visit www.cgap.org. If you have any feedback, connect with us at [email protected]. 

As climate instability intensifies, frontline communities need better tools to adapt and recover. Yet, when extreme weather strikes, the institutions best positioned to help—microfinance institutions (MFIs)—have historically pulled back, reducing lending during crises, just when clients need capital the most. Today, a new wave of innovations is changing that equation, in ways that still make financial sense for lenders. 

This episode explores two approaches that are flipping the script on how inclusive finance institutions respond to climate shocks:  

1. Recovery lending: Post-disaster loans that help households and small businesses rebuild quickly
2. Contingent lines of credit: Pre-arranged financing that can be activated when a specific, objective trigger is met 

We dive into real-world examples from Malawi and Colombia, where these approaches are helping MFIs stay engaged during crises and unlock faster recovery for climate-affected communities. 

Featured Voices:  

• Karen Lewin, Financial Services Head, VisionFund International 

• Juan Camilo Flórez Falla, Head of Digital Banking, Bancamía  

• Grecium Kachingwe, a fish vendor from Phalombe, Malawi 

Producer: Lamis Daoud, CGAP External Affairs Officer 

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program  

Executive Producer: Jahda Swanborough, CGAP Communications Lead  

© CGAP/World Bank, 2026  

Special thanks to Peter Zetterli and Michel Hanouch from CGAP for helping shape this episode. 

Listen and subscribe for free on your favorite platform. To learn more, visit www.cgap.org. If you have any feedback, connect with us at [email protected]. 

Women's financial inclusion is advancing, but gaps remain. The World Bank's Global Findex 2025 reveals that 77% of women globally now hold a financial account, yet in some low- and middle-income countries, women are still up to 30 percentage points less likely to own one than men. So, what's driving this persistent divide, and how do we close it?  

In our last episode, we looked at some of the barriers nano women entrepreneurs face and potential solutions. Thie time, we turn to the power of data. Gender-disaggregated data gives regulators and financial service providers the insight needed to design products and policies that truly serve women. In this episode, we explore how Rwanda is leading the way using smarter data collection to build a more inclusive and equitable financial system for women. 

Featured Voices 

• Dr. Moise Bigirimana, Director of Financial Sector Development and Inclusion, National Bank of Rwanda 

• Michelle Gacinya, Strategy Lead W-MSME, Bank of Kigali   

• Sabrina Mutangana, Skincare business owner, Rwanda 

Producer: Lamis Daoud, CGAP External Affairs Officer   

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program 

Executive Producer: Jahda Swanborough, CGAP Communications Lead 

© CGAP/World Bank, 2026 

Special thanks to Valdete Berisha for conducting the interviews with this episode's guests on behalf of the produce.  

Listen and subscribe for free on your favorite platform. To learn more, visit www.cgap.org. If you have any feedback, connect with us at [email protected]. 

Uganda’s 1.1 million nano and micro enterprises are the economy’s backbone, driving jobs and economic growth. Women lead 55% of them, sustaining households, strengthening communities, and powering local markets. Yet CGAP’s latest research shows too many remain “nano by necessity,” held back by scarce collateral and gaps in digital and financial literacy that limit scale and resilience. What will it take to change that?  

We speak with GnuGrid—Uganda’s first and only indigenous credit reference bureau—and the Ministry of Finance. How can policymakers, financial service providers, and development partners design tailored interventions that meet women where they are? And how can an ecosystem-wide response unlock the full economic potential of Uganda’s women entrepreneurs?

Featured Voices 

• Sandra Nakabiri, Senior Economist at Uganda’s Ministry of Finance, Planning and Economic Development  

• Dr. Sumayyah SengendoN.S Mutagubya, Managing Director of GnuGrid  

• Gladys Kwalisima, corn vendor in Uganda 
    

Producer: Lamis Daoud, CGAP External Affairs Officer  

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program

Executive Producer: Jahda Swanborough, CGAP Communications Lead

© CGAP/World Bank, 2026

Listen and subscribe for free on your favorite platform. To learn more, visit ⁠www.cgap.org⁠. If you have any feedback, connect with us at ⁠[email protected]⁠. 

Financial inclusion is rising—but are we converting access into impact?  

Global Findex 2025 reports 75% of adults in low- and middle-income countries now have an account (79% globally), powered by the wave of digital as mobile phones and the internet transform access and usage. Yet 1.3 billion adults remain unbanked, 300 million accounts sit idle, and large gender gaps persist across regions. Credit, insurance, and pensions lag, and nearly half of adults in emerging markets still struggle to raise emergency funds.  

Join top voices in the financial inclusion space to unpack the latest Findex findings and map the path forward toward development outcomes. 

Featured Voices

• Leora Klapper, Lead Economist at the World Bank and founder of the Global Findex database
• Michael Schlein, President and CEO of Accion
• Sophie Sirtaine, World Bank Group Director, for the Financial Services Sector and CEO of CGAP
• Long Nath, salon owner in Cambodia

Producer: Lamis Daoud, CGAP External Affairs Officer  

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program

Executive Producer: Jahda Swanborough, CGAP Communications Lead

© CGAP/World Bank, 2026

Listen and subscribe for free on your favorite platform. To learn more, visit www.cgap.org. If you have any feedback, connect with us at [email protected]. 

In a world shaped by climate shocks, conflict, fragility, and rapid change, financial services are more important than ever for meeting the needs of low-income communities. Globally, 1.3 billion people still don’t have a bank account, let alone access to the tools many of us take for granted. And for many more who do have access, financial products and systems don’t yet meet their real needs. 

Inclusive Finance Frontiers returns with a new season exploring how people-centered financial services can help vulnerable communities navigate uncertainty, build resilience, and improve their lives. 

From Rwanda and Colombia to Sudan and beyond, this season brings you stories from the front lines—featuring global experts, regulators, banks, fintech innovators, humanitarian actors, and, most importantly, the people living with risk every day. 

Producer: Lamis Daoud, CGAP External Affairs Officer  

Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program

Executive Producer: Jahda Swanborough, CGAP Communications Lead

© CGAP/World Bank, 2026

Listen and subscribe for free on your favorite platform. To learn more, visit www.cgap.org. If you have any feedback, connect with us at [email protected].