Access to financial services [a] gives opportunities for generating income, accumulating assets, and participating more fully in economic activities, [1] thereby promoting social and economic empowerment. Financial inclusion also offers resilience from shock events like the COVID-19 pandemic, which highlighted the need for ensuring that the poorest populations have access to formal financial services. [2] For women, in particular, financial inclusion is an indispensable goal. Research indicates that financial inclusion has a positive impact on women’s control over household resources by increasing their savings. Yet globally, women continue to face barriers to accessing financial services. Data from the Global Findex Database 2021 shows that women and the poor are more likely to lack proof of identity or a mobile phone, live far from a bank branch, and need support to open and effectively use a bank account. [3] , [4]
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