Refugees: entrepreneurs in the making
Access to loans, savings, and insurance is vital to help displaced people become more financially resilient and allow entrepreneurs to build businesses and create jobs. But many displaced people are unable to meet certain requirements, such as providing an acceptable form of ID. Moreover, many formal finance institutions are reluctant to extend finance to refugees, who are seen as a burden, rather than contributors to the local economy. While there is considerable financing provided to micro-finance institutions (MFIs), we find that this is still largely not available to the most vulnerable and displaced people.