The rapid growth and adoption of digital technology over the last few decades has created new ways for people to connect to the networks they need to advance and grow their businesses. However, the benefits of this economic and digital growth, while significant, have not been accessible to everyone.
For millions of small shop-owners in emerging countries, access to financial capital is often cited as a leading barrier to growth. In these countries, 40 percent of formal micro-, small- and medium-size enterprises are financially constrained. By creating growth and expansion opportunities for small- and micro-entrepreneurs in emerging markets, we can make significant steps toward advancing economic development and reducing poverty.
We have developed digital tools and services to help these small business owners get paid securely, directly, and fairly; create transparent and fair marketplaces; and create financial footprints to open up credit. In partnership with private enterprises, governments and international development organizations, we have launched pilot projects and solutions with smallholder farmers to help underserved microbusinesses achieve financial security.
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