Barclays made the Clinton Global Initiative (CGI) Commitment to Action when launching Banking on Change at the CGI Annual Meeting in New York in 2009. The commitment was to improve the quality of life for poor people by enhancing, innovating and accelerating sustained access to savings and other financial services.
Banking on Change is the world’s first savings-led microfinance programme that combines the deep understanding of two leading NGOs with the financial expertise of a global bank to encourage extremely poor people to begin their path to financial inclusion through village savings and loans groups.
President Clinton visited the group, in the Vingunguti ward outside of Dar es Salaam, and saw how the members of the group have established a culture of saving regularly. Combined with financial and small business training, he heard how many have gone on to establish micro-enterprises.