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Financial services for smallholder farmers and rural MSMEs are critical to achieving financial inclusion goals. Many MFIs and banks see potential growth from extending financial services to these unbanked clients, but their traditional approaches must be adapted to capitalize on opportunities in rural areas. MFIs and banks need long-term strategic commitment, thinking beyond only product development into changes in credit assessment, staffing and operating models. This report draws from experiences and lessons in Latin America and the Caribbean, where financial institutions have already made successful inroads into rural areas, to provide recommendations and guide MFIs and banks in all regions to better reach this untapped, “bottom of the pyramid” client base.