Sound financial systems underpin economic growth and development and are crucial to the World Bank Group’s mission of alleviating extreme poverty and boosting prosperity on a livable planet.
FinSAC offers financial stability expertise and global knowledge to assist client countries develop and enhance effective financial systems. Financial stability helps generate jobs and improve productivity. It gives people the confidence to invest and save money. Robust banking systems and capital markets efficiently flow funds toward their most productive uses, help governments raise investment capital, maintain financial safety nets, and speed payments securely across borders. An effective financial safety net is essential for any country to be able to deal with crisis situations and quickly adapt to changing circumstances. This was evident during the COVID-19 pandemic and the financial turbulence caused by regional conflicts. And it is becoming increasingly important due to evolving new risks caused by climate change.
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