Finance Sector Development

In the Spotlight

Overview

The financial system is the lifeline of a country’s economy. It creates prosperity that can be shared throughout society and benefit the poorest and most vulnerable people. Financial sector and capital market development, including microfinance, small and medium-sized enterprises, and regulatory reforms, is vital to decreasing poverty in Asia and the Pacific. Since the Asian financial crisis in 1997-1998, the region’s financial sector has strengthened significantly. However, it still lags substantially behind that of developed economies and room to grow.

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  • Highlights



Fast Facts

$6.7 trillionEmerging East Asia's local currency market at the end of March 2013, a year-on-year expansion of 12.1%
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$2.59 billionADB's total microfinance approvals as of June 2014
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40% estimated portion of the population in South Asia not served by banks
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