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Access to finance is a key driver of household welfare and economic growth.
Globally, 31% of adults are unbanked. This is not only a problem in developing
countries: in the US, 7% of households are unbanked an additional 19% are
underbanked. The lecture will discuss the impact of a large-scale "brick-and-mortar"
microcredit expansion program on financial access in Rwanda. The program
improved access to credit, especially in underdeveloped areas and generated
positive spillovers to commercial banks. At the same time, digital credit is emerging
as an alternative for providing small, short-term loans and as a way to boost access
to credit. The lecture will close discussing opportunities and challenges of fintech
lending to promote financial inclusion. ANDREA PRESBITERO
Professor Presbitero is the Vera and Stefano Zamagni Professor of Economics at the Johns Hopkins University SAIS Europe. Previously he was a Senior Economist of the IMF Research Department's Macro-Financial Division and member of the Money & Finance Research. His research focuses on financial intermediation, banking, development finance, and sovereign debt. He is associate editor of Economia
(LACEA) and the Journal of Financial Stability
. Presbitero received his PhD from Università Politecnica delle Marche, and MA in Development Economics from the University of Sussex.