We are committed to changing lives of low-income populations

Originally published by the ILO, this blog showcases how Lumkani, an SCBF Repayable Grant (RG-02)–supported insurtech, combines smart fire-detection technology with affordable insurance to protect families and livelihoods in high-risk informal settlements. Through real-life stories, it highlights how prevention, rapid payouts, and community trust can dramatically improve resilience to climate-driven fire risks—offering lessons with relevance far beyond South Africa.

SCBF has published a new insights report on inclusive index insurance, drawing on five case studies across Africa, Asia, and Latin America. It shows that index insurance is most effective when bundled with services like credit or advisory support and delivered through trusted local partners, helping smallholders recover from climate shocks and invest productively. The report also highlights key challenges and offers practical recommendations for donors and practitioners to support scale, sustainability, and impact.

This blog highlights how Women’s World Banking (WWB), with support from the Swiss Re Foundation and SCBF, is expanding health insurance for low-income women savers in Uganda and Senegal. Savings-linked hospital cash insurance strengthens women’s financial resilience while creating sustainable business value for financial service providers - demonstrating SCBF’s role in enabling inclusive, scalable financial solutions.

SCBF supported Accion Advisory and Annapurna Finance in a project that introduced emergency loans - Just-in-Time (JIT) loans - and developed an interactive Customer Engagement Platform (CEP) to help rural entrepreneurs, particularly women in Odisha, eastern India, respond to sudden financial shocks. Designed for speed, accessibility, and flexibility, these tools enable low-income women to access small, pre-approved amounts through digital channels such as SMS, WhatsApp, and voice-based services. This republished blog explores how such financial solutions are vital for helping women retain control during crises and rebuild economic stability.

SCBF, in collaboration with 60 Decibels, is working on collecting emerging insights on the real-world impact of financial inclusion for low-income and underserved communities through its projects. Drawing on outcome studies conducted across seven countries, this report explores how access to tailored financial products - ranging from agricultural insurance to savings-linked health services - is improving income, resilience, and overall well-being. These insights offer a deeper understanding of client experiences and highlight the critical role that inclusive finance plays in building more secure and empowered futures.

The SCBF, with the support of the UBS Optimus Foundation, has published emerging insights on the complex and interconnected relationships between climate, health and financial inclusion for low- and middle-income populations. The report examines key intersections, challenges and opportunities facing climate-vulnerable communities, as well as the innovators and funders working to address their needs.

A report has been compiled to provide a comprehensive contextual analysis of financial inclusion in West Africa and highlights SCBF's engagements across the region. It aims to provide valuable insights and learnings from SCBF’s interventions, showcasing the effectiveness of its approach in addressing financial challenges in West Africa. Additionally, the report includes a summary of all projects implemented in the region, demonstrating the impact SCBF has had in expanding financial access and fostering economic growth in the region.

A study was commissioned by Oxfam Novib Fund to be done by HEDERA and was managed by Triple Jump, explores how financial service providers in Sub Saharan Africa are integrating green finance to tackle climate risks. The study also evaluates the enabling environment and identifies challenges and opportunities for advancement of green finance.

SCBF-supported interventions in West Africa have played a pivotal role in advancing financial inclusion across the region. The initiatives in Togo and Benin focused on digitalizing financial services, complemented by financial education to enhance adoption, while the project in Mali centered on empowering rural women through the Women’s Self-Help Group methodology. The global summary of these case studies highlights key insights, lessons learned, and client experiences, showcasing the impact of these projects on underserved communities.

This blog delves into the impact of the project in Benin with FECECAM, highlighting how it has enhanced clients' access to and utilization of financial services. It showcases the project's role in expanding outreach and delivering secure, accessible financial solutions, with a particular focus on empowering women and youth.

SCBF’s grant to FECECAM in Benin, in collaboration with CFI, played a crucial role in scaling up the digital Planned Saving program. This initiative helped in expanding outreach, providing secure and accessible financial services, particularly to women and youth. By empowering these groups economically, the program contributed to improved living conditions. Additionally, a financial education program was integrated to support the scaling of financial products and foster a culture of financial discipline. To assess the impact, a study was commissioned by SCBF to evaluate how the project has influenced clients' access to and usage of financial services, their living conditions, and the achievement of institutional objectives.

This blog explores how ASSILASSIME Solidarité’s personalized approach, integrating non-financial services and technology, empowers clients by improving access to credit and financial management resources.

A study on ASSILASSIME’s project with SCBF in Togo to ease its clients’ access to their accounts, available services, and financial education illustrates how digitalization can improve financial inclusion, customer experience, and operational efficiency for low-income populations and financial institutions.

The objective of this blog is to showcase how SympliFi’s innovative digital collateral solution—supported by SCBF—is helping Nigerian micro-entrepreneurs access affordable credit by leveraging diaspora support. By connecting guarantors abroad with local borrowers through a mobile app, the initiative addresses key barriers to financial inclusion, enabling business growth, improved well-being, and greater credit access. The blog also explores how product innovations like inventory financing and end-to-end digital lending are overcoming operational bottlenecks to scale impact.

This blog explores how the Groupe Yeredeme (GYD) methodology in Mali is unlocking financial inclusion for rural women through the power of strategic partnerships. By organizing women into self-help groups and leveraging collaboration between a local NGO, a microfinance institution, and SCBF, the initiative empowers women with access to savings and credit, enabling them to build resilience and improve their livelihoods.

Between 2019–2022, SCBF supported two projects with Acre Africa focused on scaling agricultural insurance and providing financial education to smallholder farmers. Post-project impact assessments, conducted by independent consultants, evaluated the initiatives’ effectiveness, reach, and educational impact. Findings offer key insights for scaling the product and underscore the role of financial education in boosting insurance uptake among Rwandan farmers.

Blue Marble's report on Zimbabwe highlights efforts to expand climate resilience through microinsurance for smallholder farmers, leveraging mobile technology for enrollment, premium payments, and claims processing. The initiative aims to mitigate climate risks, enhance financial security, and support sustainable agricultural practices in vulnerable communities.

In 2021, SCBF marked its 10th anniversary. With over a decade of experience, we've been bridging the Pioneer Gap—linking public funds with private expertise to support inclusive finance. We've reached 2.6M low-income clients (68% women) across 47 countries, partnering with 110 financial institutions and 36 TA providers to build investment-ready solutions.

As a small business owner and mobile money agent in Tanzania, Maria Francis Kihanga experienced an unprecedented level of uncertainty when the Government started to

In November 2021, SCBF brought together a select group of its members, donors, and partners to celebrate its 10th anniversary and to discuss how to

by Jitendra Balani and Chrissy Martin Meier “[With my loan, I] improved the security condition and ventilation of my house because of using the loan

by Jitendra Balani and Chrissy Martin Meier  “After [the] renovation, our lives have changed. We now sleep well because our bedrooms are comfortable. We are

As consumers, we rely on a sometimes bewildering array of certifications and quality assurance standards from fair trade to organic, from ethical fashion to sustainable

In this piece Chrissy Martin Meier and Sitara Merchant examine whether blockchain is delivering on its promise for financial inclusion. Drawing on SCBF's review of two Kenyan use cases - digital ID wallets (Gravity) and crop insurance (ACRE Africa) - they find that while blockchain shows potential, it’s not yet scalable for low-income communities. Philanthropic efforts should focus on proven solutions rather than unproven blockchain models.

To explore how financial institutions in the Global South perceive and engage with emerging Environmental, Social, and Governance (ESG) frameworks—highlighting both risks and opportunities. Through a study supported by FMO and SCBF, Shining Rock Ventures captures the experiences of 32 financial institutions, shedding light on their readiness, knowledge gaps, and the potential for ESG to drive inclusive investment, despite frameworks being shaped largely by Global North priorities. The blog underscores the need for capacity-building and localized engagement to shape equitable ESG adoption.

This blog showcases how a human-centered design approach - supported by SCBF and implemented by Accion - helped Socremo and Hollard Insurance co-develop a bundled funeral insurance and savings product tailored to low-income microentrepreneurs in Mozambique. It explores how this innovative solution addressed cultural and financial barriers to insurance, boosted financial resilience, and led to a 60% increase in product uptake, while also documenting key challenges, outcomes, and learnings.

In this republished Cenfri blog, based on a project supported by SCBF in Kenya, key lessons emerged on improving health microinsurance (HMI) for low-income clients through Britam and M-TIBA’s offering. The research highlights the importance of perceived value, effective onboarding, simplicity, human interaction alongside digital tools, and well-trained healthcare partners. These insights are being used to refine the product and enhance customer experience, with the aim of boosting uptake and retention.

This piece highlights the urgent need to shift climate finance toward bottom-up approaches that support vulnerable communities with green energy, financial access, and climate adaptation tools. It distinguishes green from climate finance, stresses the transformative role of digital financial services, and showcases SCBF’s support for tech-enabled solutions like insurance and solar microloans. It calls for innovation, impact focus, and collaboration in green inclusive finance to address climate resilience and development goals.

This blog highlights a project in Mali supported by SCBF that strengthens women-led Self-Help Groups (Yeredeme) to foster financial empowerment and community development through savings, microloans. With support from CAMIDE and Bɛnso Jamanu, the initiative enhances sustainability by forming federations, promoting income-generating ventures, and fostering peer-led learning.

This summary outlines VisionFund's efforts to expand access to health microinsurance for vulnerable communities by partnering with local insurers and World Vision. Supported by SCBF, a two-year pilot in Ghana and Malawi tested microinsurance delivery to savings groups. The report highlights the pilot’s outcomes, evaluation process, key lessons learned, and proposed steps for scaling the initiative to enhance financial protection for low-income families.

The blog discusses a project in Mozambique, where SCBF partnered with Accion and Socremo MicroBanco to enhance financial inclusion for low-income individuals by digitizing savings products. The "Vitamina" savings product was upgraded, integrated with mobile wallets, and offered self-service options. The project also addressed challenges like customer trust and adoption through ongoing engagement and collaboration.

The blog showcases how Annapurna Finance, with support from Accion and SCBF, is empowering young entrepreneurs in India by improving access to finance and digital tools. It highlights efforts to enhance Annapurna’s Customer Engagement Platform to better serve tech-savvy clients and promote digital financial inclusion among underserved youth facing unemployment.

This blog by Amit Gupta and Aditya Agarwal highlights how Annapurna Finance, supported by Accion and SCBF, fast-tracked its digital shift during COVID-19 by developing a Customer Engagement Platform. The platform improves communication with clients via direct digital channels and aims to ensure accessible, relevant digital experiences across customer segments with varying digital literacy.

A study on the Yeredeme methodology in Mali was conducted to understand how it enables women to access credit and develop income-generating activities that contribute to their empowerment and give them access to microcredit. The infographic illustrates the impact of empowering rural women in Mali through Self-Help Groups (SHGs).

The blog underscores the critical need for bold climate action at COP28 and emphasizes how inclusive finance, through initiatives like those by SCBF, can play a pivotal role in fostering climate resilience, especially for underserved communities. It demonstrates the potential of tailored financial solutions in supporting both climate mitigation and adaptation, helping to build a sustainable, climate-friendly economy.

Impact-linked Finance (ILF) is transforming how we approach inclusive finance and sustainable investing. By linking financial rewards to measurable social outcomes, ILF enables high-impact enterprises serving low-income communities to scale sustainably while staying true to their mission. In this blog, we explore how ILF is shaping the future of impact finance - and how SCBF is actively embracing this innovative approach.

This piece highlights the SCBF-supported Yeredeme project in Mali, which strengthens women’s economic empowerment through rural self-help groups that promote peer learning and financial self-management. Piloted by CAMIDE and Manjari Foundation in Kayes, the initiative significantly improved women’s access to finance and demonstrated strong potential for replication and scale. The case study explores its impact and future prospects.

Swiss Re has been a valuable partner in SCBF’s work, co-funding 10 projects across Africa and Asia to build resilience in low-income communities. One such project provides weather index-based insurance to smallholder farmers in India, helping protect them from crop loss due to weather adversities. Swiss Re Foundation's impact story showcases how this collaboration is reaching the last mile and supporting vulnerable farmers.

SCBF has supported 25 projects across six West African countries with a focus on agriculture, resilience, and women’s empowerment. In 2023, MicroSave Consulting conducted a study capturing key insights and client experiences from these initiatives. Despite implementation challenges, the projects are generating meaningful impact on the ground. Here’s a short film showcasing the real-life stories and outcomes from SCBF-supported projects in Mali, Benin, and Togo.

Swiss Re Foundation has been a strategic partner since 2021, although Swiss Re's collaboration with SCBF dates back to 2012. Together, they have co-funded 10 impactful projects across six countries in Africa and Asia, with a focus on health and parametric insurance. This partnership has led to significant positive outcomes, which are highlighted in a compendium of achievements compiled by SCBF.

The health insurance system in Egypt is complex and does not include the informal / unorganized sector. This indicates gaps in the penetration and effectiveness

Most Malians are unbanked. Four out of five rural Malians do not have access to financial capital to develop economic activities. The lack of data

World Vision and VisionFund International have been awarded grant funding from SCBF to pilot the provision of insurance services to underserved populations in Ghana and

Financial education is an essential part of smallholder empowerment. Education is a door-opener to financial inclusion, an important aspect of agricultural development. The Syngenta Foundation

AwanTunai’s collaboration with Sayurbox, a sister company with similar visions to help micro-SMEs prosper, aims to digitize and optimize the agricultural supply chain and provide access to affordable financing for the 19 million MSME farmers in Indonesia, even to those without bank accounts.

Following the recent publication of our Inclusive Index Insurance Insights & Case Studies, this webinar brings together leading index insurance innovators from Sub-Saharan Africa and Latin America to share practical lessons from the field. Speakers will explore how emerging technologies - including hybrid models, picture-based insurance, mobile platforms, and advanced data and monitoring tools — are helping address two persistent challenges in index insurance: farmer trust and basis risk. The discussion will focus on what it takes to design, implement, and scale these solutions in real-world contexts, including the institutional, regulatory, and funding conditions required to make inclusive index insurance viable at scale.

On 17 September 2025, SCBF and VisionFund International hosted a panel on ‘Inclusive Health Insurance in Low-Income and Fragile Countries.’ Experts shared insights from multiple regions on protecting vulnerable communities, building resilience, and designing scalable, client-focused insurance solutions. The session also featured the launch of the Microinsurance Toolkit to guide institutions in fragile markets.

On March 20, 2025, a roundtable discussed SCBF’s report on financial inclusion and healthcare in a changing climate. Experts explored challenges in global health financing, innovative financial solutions for climate-vulnerable populations, and the role of public-private collaboration in improving healthcare access.

SCBF, in collaboration with MicroLoan Foundation Zambia, co-hosted a webinar on 6 March 2025, in honor of International Women’s Day, highlighting the role of technology in strengthening women's financial resilience in Zambia. The session focused on the Katumba Savings Platform, a free digital savings solution designed to help financially excluded individuals, particularly rural women, build a digital footprint and access formal financial products. The discussion explored Katumba’s development, its impact on women facing economic exclusion and climate challenges, and key insights for shaping future financial inclusion strategies.

The frequency and intensity of extreme weather events are increasing, becoming a recurring reality faced by communities worldwide. The urgency of this challenge is underscored by the United Nations Secretary General’s Call to Action on Extreme Heat. On 1st October, SCBF, in collaboration with its members CelsiusPro, BlueMarble, and project partner IBISA Network, hosted a webinar exploring innovations in Heat Index Insurance for women’s worker associations and dairy farmers. The recording of the webinar is now available.

SCBF, in collaboration with the Accion organised a webinar to deep-dive into the digital adoption of financial services of the low-income population across Asia and to gain insights from the experiences of the microfinance industry leaders. Recording of the webinar is available now.

VisionFund International is addressing health inequities with its “Savings Linked” insurance model across Ghana, Malawi and Rwanda. On 30th September, SCBF, in collaboration with its partners VisionFund International, VisionFund Rwanda and SanlamAllianz, hosted a webinar exploring strategies for creating sustainable solutions that enhance health equity and access. The recording of the webinar is now available.

With support from SCBF, VisionFund along with World Vision and Allianz Ghana piloted the provision of accident, sickness and health insurance for World Vision Savings groups in Ghana and Malawi in order to expand their outreach. On 29 March 2023, SCBF, in collaboration with the VisionFund International, World Vision International, Allianz Ghana organised a webinar – to understand the experience and learnings from the pilots in Ghana and Malawi and how it compares to the loans and savings-bundled insurance product in Uganda. Webinar recording is available now.

SCBF supported PHB Consultants, WSBI (Scale2Save initiative) to support FINCA Uganda on developing a business case for low-balance savings mobilization and usage for low-income savers in Uganda. FINCA Uganda launched a Mobile banking platform and also deployed and activated Digital Field Automation (DFA), which allows customers to open accounts remotely. On 13 April 2023, SCBF, in collaboration with FINCA Uganda, PHB Consultants and WSBI organised a webinar that aimed to understand the learnings and insights gathered from this project in Uganda. Webinar recording is available now.

SCBF is co-funding a project by Saathealth – a digital health platform with Swiss Re Foundation to help address some of the key challenges that India has been facing in building financial resilience related to health, particularly for the “missing middle”. The Saathealth family health intervention reaches low-income customers with preventive health content in local languages using visual and interactive formats. On 4 May 2023, SCBF, in collaboration with Saathealth, organised a webinar to discuss on “Digital health platform for increased financial inclusion in India: Insights and findings”. Webinar recording is available now.

On June 2, 2020, Boubacar Diallo, our Financial Inclusion / Education Specialist West Africa, participated in the FinDev Gateway webinar on the impact of Covid-19 n financial inclusion in West Africa.

A recorded conversation between our Learning and Insights Manager, Yekbun Gurgoz, and Maurice Iwunze, Co-founder, SympliFi discussed on “Unlocking Financial Inclusion: Harnessing AI and Blockchain for a Better Future” aired during the Financial Inclusion Week 2023. Check the conversation recording here.

On 6 December 2023, a joint webinar was organised by SCBF and ILO’s Impact Insurance Facility to discuss and gain insights from industry experts on the strategies that can help expand inclusive property insurance towards building a more inclusive and secure financial future. Webinar recording is available now.

On 8 November 2023, SCBF, in collaboration with MicroSave Consulting, hosted a webinar featuring an in-depth analysis of the digitalisation of financial products and solutions. The session also focused on scaling up the self-help group methodology to enhance rural women’s access to finance. The recording of the webinar is now available.

On 21 January 2021 and 28 January 2021, MicroSave Consulting (MSC) and SCBF hosted these webinars to share the interesting insights from a research conducted by MSC, with support from the Bill and Melinda Gates Foundation, Metlife Foundation, Mastercard Foundation, and SCBF to to assess the impact of the COVID-19 pandemic on MSMEs, farmers and CICO agents in Asia and Africa. Webinar recordings are available.

Business & Finance Consulting (BFC), a SCBF member, hosted a series of webinars focused on digitizing MSME finance. Recording of the webinar is available.

On June 18, 2020, a webinar was organised by Financial Inclusion Forum UK and Opportunity International to discuss to examine the financial lives of refugees and IDPs during the COVID-19 crisis. Recording of the webinar is available.

On 18th June 2020, a webinar presented a case study of a joint project between Women’s World Banking and Lead Foundation in Egypt, funded by SCBF. The project aimed to improve the turnaround time (TAT) of insurance claims payment process with specific focus on making the fraud investigation process more efficient using new age technology tools. Recording of the webinar is available.

On 14 December 2022, SCBF, in collaboration with the ILO’s Social Finance Programme and Habitat for Humanity organised a webinar to unpack the relevance of and need for property insurance for boosting financial inclusion. The session brought together a diverse group of experts and two Kenya insurers presented their initial research into and experiences in serving emerging consumers with inclusive property insurance. Recording for the webinar is available now.

Although the economic impacts of Covid-19 continue to evolve, recent evidence shows that inclusive fintech startups are adapting through new channels and cost-saving measures to meet users' changing needs. However, the data also suggests that users are struggling, with significant income drops and low savings levels. A webinar discussing these findings was held on 16 October 2020, and the recording is now available.

Europa Re joins SCBF as our newest member, bringing strong expertise in climate and catastrophe insurance, including parametric solutions and advanced digital risk-modelling. Together, we will accelerate efforts to close the protection gap and expand climate resilience for vulnerable communities.

SCBF has partnered with the Howden Foundation for a two-year collaboration to strengthen climate resilience in emerging markets. Together, they will co-fund initiatives that expand access to inclusive insurance and financial protection, empowering low-income households, women, smallholder farmers, and MSMEs to better prepare for and recover from climate and economic shocks.

The Annual Report 2024 has been published that captures the progress made over the years - highlighting the outreach achieved across our focus regions, the strategic partnerships we built, and the tangible impact of our efforts to advance financial inclusion. The report offers insights into key initiatives, lessons learned, and our continued commitment to empowering underserved communities through innovative financial solutions.

Published Annual Report of 2023, sharing the milestones and outreach achieved by SCBF over these years since inception in 2011. It also shares it's future outlook and strategy for creating outsized impact.

MSD, known as Merck & Co., Inc., in the United States and Canada joined SCBF as its 32nd member in April 2024

SCBF is pleased to welcome its newest and 31st member – the Novartis Foundation.

The IF50 Investors Circle is a global network of investors that provides members with visibility into promising early-stage inclusive fintechs. SCBF is delighted to be a new member of the IF50 Investor Circle and is looking forward to interact with innovative inclusive fintech start-ups.

MicroSave Consulting and SCBF are co-funding research to understand the impact of COVID-19 pandemic on the needs, attitudes, perceptions, and behaviour of micro and small enterprises in Asia and Africa. SCBF has co-funded the study

SCBF is very excited to announce two new members CelsiusPro and Habitat for Humanity International Association.

The fintech sector holds great promise and potential to move the needle on financial resilience and financial health for underserved populations

Apply now! Call for proposals for outcome study on insurance, gender equity, and health outcomes for women in Morocco and Egypt is now open. SCBF

After 10 years of successfully improving financial systems to be inclusive and responsive to the needs of low-income clients, SCBF aims at making a strategic

SCBF is very excited to announce four new members 1to4 Foundation, Clarmondial, iGravity, and Seedstars to the SCBF family. Please join us in welcoming our

Join us in congratulating Akiba on being selected for the 2020 Inclusive Fintech 50 cohort. Last year, Stonestep was selected for 2019 Inclusive Fintech 50

SCBF is proud to announce a new strategic partnership with Swiss Re Foundation to help realise the Sustainable Development Goals and contribute to build resilient

SCBF is super pleased to announce our continued strategic partnership with the Swiss Agency for Development and Cooperation (SDC) until the end of 2024. The

SCBF is very excited to announce a new member to the SCBF family: BASE (Basel Agency for Sustainable Energy) Established in 2001, BASE is a

We have just published our 2020 Annual Report here. Read a co-message from our Chairwoman and CEO, see our impact in 2020 and since inception,

SCBF and the Arab Gulf Programme for Development (AGFUND) are very happy to announce that the strategic partnership has been extended with additional funding. “As

With our continued strategic partnership with the Swiss Agency for Development and Cooperation (SDC) and funding for 2021 to 2024, SCBF has updated its project

The AXA Group is a worldwide leader in insurance and asset management, serving 105 million clients in 54 countries. As one of the largest global

SCBF is pleased to share that our member-base has been steadily growing as we welcome our newest member – MPower Ventures. MPower is a climate

The COVID-19 pandemic brought with it unprecedented challenges for society – beyond the imminent threat to people’s health and lives. Small businesses, in particular those

Designing digitally-enabled agriculture insurance that works for smallholder farmers in Zimbabwe By 2030, 100 million people – who are currently economically self-sufficient – will stumble

We are happy to announce that SCBF has joined the Global Impact Investing Network (GIIN) as a member. The GIIN is the leading nonprofit dedicated to

2021 was a challenging year on many fronts, with the enduring COVID-19 pandemic, climate change and ensuing global crises on social, political and economic fronts

As thousands of delegates from all over the world gather in Sharm el-Sheikh, Egypt for COP27 to take action towards achieving the world’s collective climate

Aligned with SCBF’s strategic pivot and vision for 2030, SCBF is looking for creative agencies or consultants to support the website and branding refresh. This

SCBF, through its innovative public-private platform with support from its 30 strong members, promotes financial inclusion of low-income clients, especially women, smallholder farmers, and MSMEs,

Even before the COVID-19 pandemic, the number of people whose out-of-pocket health expenses exceeded 10% of their household budget was on the rise, according to

The SCBF team is pleased to introduce the two new Board Members who were elected by members during the 2022 Annual General Meeting in Zurich.

The African continent is growing in prominence due to its immense potential across all spheres. While the region still lags compared to other regions in

SCBF is pleased to welcome its newest and 30th member – Blue Marble. Blue Marble is an insurtech with a mission to create socially impactful,

In 2022, the world continued to face a multitude of challenges, with each of them leading to a widening inequality gap and increasing global poverty.