CGAP

India now a member of CGAP
India has now become a member ofConsultative Group to Assist the Poor
(CGAP), an international apex body for micro-finance. For the first time a
developing country has been admitted in CGAP.
What is CGAP?
 The Consultative Group to Assist the Poor (CGAP) is a consortium of 33 public and private development agencies
working together to expand access to financial services for the poor in developing countries.
 CGAP was created in 1995 by these aid agencies and industry leaders to help create permanent financial services
for the poor on a large scale (often referred to as microfinance).
 CGAP is headquartered in Washington, D.C. and operates on a yearly budget of $10 million.
 CGAP is housed at the World Bank, but operates as an independent entity.
 It has its own governance structure, with a board that includes practitioners and leaders from outside the donor
community as well as member representation.