The phrase “Catch-22” was originally coined to describe a paradoxical situation that someone is unable to escape from because of contradictory rules or regulations. Think, for example, about the recent graduate who is unable to obtain a job because he or she does not possess any previous work experience, yet cannot gain any work experience because he or she cannot get a job. Fortunately, as tends to be the case with graduates who persist, compromising expectations and demands, eventually someone takes a chance, giving them the benefit of the doubt, and chooses to invest in their potential.
Unfortunately, when it comes to access to finance, there are also persistent Catch-22s that directly affect the ability of some of the world’s poorest and most vulnerable populations—particularly rural communities—to improve their precarious position and become more food secure.
For more on this story visit the following link: More Data, Less Risk: Innovators Chart a Path to Financial Inclusion