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Opening the Black Box on the Impact of Inclusive Credit

This Focus Note examines when and for whom inclusive credit generates meaningful benefits rather than harm. It synthesizes evidence from 405 credit-focused studies alongside CGAP’s Precision Causal Modeling research across five financial institutions and 19 countries, shifting the question from whether credit works to how borrower characteristics, product design and context shape its impact.

• Resource type Technical Note
• Author Karina Broens Nielsen, Patrick Spaven, Jessica Meckler and Valdete Berisha, CGAP
• OrganisationCGAP
• Year of Publication2026
• RegionGlobal
• LanguageEnglish
• Keywords Access To Credit, Financial Inclusion