CGAP Drives Expansion of Mobile Banking to Reach the World’s Poorest People | Bill & Melinda Gates Foundation

WASHINGTON--Ground-breaking mobile and agent banking programs have enabled poor people from Kenya to the Philippines to access financial services for the first time. CGAP today announced a further 3 year commitment to take this innovative approach to millions more around the world.

The Bill & Melinda Gates Foundation is providing CGAP, an independent microfinance group housed at the World Bank, with a grant of US$6 million to support the next phase of CGAP’s Technology Program to promote mobile and agent banking to scale up in developing countries. The grant is in addition to a major grant the foundation provided in 2006, as well as CGAP funding and GBP 8 million that the UK’s Department for International Development (DFID) committed to the CGAP Technology Program in March.

To read the full press release, visit the CGAP web site.