Commitment to Action

Financial Services for the Ultra-Poor

Commitment by

Consultative Group to Assist the Poor

In 2009, The Consultative Group to Assist the Poor (CGAP) committed to launch Financial Services for the Ultra-Poor, an initiative to graduate the extreme poor out of poverty by carefully sequencing safety nets, asset transfers, livelihoods and financial services over an 18 to 24 month period. CGAP, as part of a group of microfinance institutions, multi-sector nongovernmental organizations, foundations, international agencies and government, commits to 1) implementing a new pilot in Sub-Saharan Africa; 2) helping the partners raise $15 million dollars from bilateral and national funders to scale up successful ultra-poor pilots on three continents and 3) continue researching, sharing knowledge and advocating for new ways to reach the ultra poor by sequencing a series of interventions including safety- nets (consumption support), livelihoods (asset transfer, training) and financial services (savings).

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Overview
Summary

Commitment

Financial Services for the Ultra-Poor

Launched

2009

Est. Duration

5 Years

Estimated Total Value

$15,000,000

Region

Africa, Latin America & Caribbean, Asia

Countries

ETHIOPIA, GHANA, HAITI, HONDURAS, INDIA, PAKISTAN, PERU, YEMEN

Commitment by

Consultative Group to Assist the Poor

Partner(s) of the Commitment Maker(s)

Presbyterian Agricultural Services, United States Agency for International Development, Plan International, The Mastercard Foundation, BRAC, Bandhan, Sevis Finansye Fonkoze, Trickle Up Program, The Ford Foundation, Relief Society of Tigray, Innovations for Poverty Action, World Bank Group