Bringing the Informal Sector Onboard
Bringing the informal sector onboard has a crucial role to play in expanding financial inclusion for the world’s two-plus billion people working in the informal economy. To achieve sustainable development and poverty reduction, any plan for financial inclusion must include the informal sector.
The purpose of the Toolkit is to outline the different tools that policymakers have at their disposal to achieve the goals of onboarding the informal sector.
While the Guideline Note discusses how policymakers and practitioners can engage with the informal sector to increase its access to formal finance, which might not immediately result in formalization altogether but may eventually incentivize it. Based on interviews with key informants in seven countries, the Guideline Note presents real-world experiences to allow the community of policymakers and practitioners to learn from developing and emerging economies.