The Partnership for Financial Inclusion
The Partnership for Financial Inclusion is a $37.4 million joint initiative of IFC and The MasterCard Foundation to expand microfinance and advance digital financial services in Sub-Saharan Africa. The seven-year program was launched in January 2012, and works with microfinance institutions, banks and mobile network operators across the African continent to develop and test innovative business models for financial inclusion. The Partnership also pursues an extensive research and learning agenda, harnessing and sharing insights gained in program projects for the industry and the public good. As such, the program aims to have an impact even beyond direct projects to help achieve universal financial access by 2020.
“This initiative is part of a much, much larger story. It’s the story of political, economic and social transformation happening around the Sub-Saharan continent.”
- Reeta Roy, president and CEO of The MasterCard Foundation, at the Johannesburg launch of the Partnership for Financial Inclusion
The Partnership for Financial Inclusion brings together the clients, practice and expertise of IFC, with the intellectual and financial capital of The MasterCard Foundation. The MasterCard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Sub-Saharan Africa. Based in Toronto, Canada, its independence was established by MasterCard when the Foundation was created in 2006. The Partnership for Financial Inclusion is also supported by the Development Bank of Austria and the Bill & Melinda Gates Foundation, and collaborates with knowledge partners such as the World Bank and CGAP.