Further, they had to create a direct stake for larger segments of the population in the financial sector that they were intending to build for the future. Many developing countries were concerned for quite some time with issues of connecting people with finance, but for the global community this became an issue only as a consequence of the GFC.
Before the GFC, for advanced economies, the focus was on extending credit to those without assets. The G20 statement and subsequent follow-up actions by various multilateral institutions have to be viewed in this context. Financial inclusion was put on the G20 agenda in November 2008 and, in 2010, it became one of the pillars of the global development agenda.