Getting basic services to the poor

By Anita Marangoly George*

My experience of the World Economic Forum, with which I have been associated in past years, both as a participant and a speaker, has been a valuable one. The platform helps shape global thinking, promotes sharing of fresh ideas and brings new perspectives to bear.

The India Economic Summit in Mumbai is at a time when the global economic situation looks rough, Europe’s financial difficulties need resolution, the Middle East needs jobs and the spotlight is zooming in on emerging markets, particularly Asia.

Countries like India and China face enormous growth challenges of their own, but have through their entrepreneurial dynamism, the ability to take on bigger roles in the global arena for partnering a resolution.

Innovation, new business models and scale are the new buzzwords for these emerging economies, especially India. The country offers the promise of scale so new models of innovation and business have the opportunity to succeed.

I expect that this year’s theme of Linking Leadership with Livelihood will bring new and inclusive business models to the forefront. Strategic themes of inclusive and clean growth guide my work in India, in my role of leading infrastructure projects for the International Finance Corporation (IFC), a member of the World Bank Group. Toward our goal of furthering implementation of inclusive and clean growth, and more specifically ensuring implementation of infrastructure projects, IFC has had the privilege of learning about and supporting many innovations and experiments that have succeeded and resulted in greater access to basic services.

For example, IT service provider and IFC-supported FINO’s unique smart card based platform is helping to bring much needed financial services to 40 million low income households in rural and semi-urban India. In the next three years, FINO hopes to double its reach while helping make social security and pension payments more efficient, reducing the cost of transactions and ensuring that end-users receive payments on time.

Another innovative solution is that of IFC client WaterHealth whose low-cost ultraviolet technology bring access to safe, purified potable water at prices the poor can afford. Distributed Generation models for increased access to electricity through rooftop solar and micro grids are other examples.

There are several such innovative ventures spearheaded by entrepreneurs who are changing the face of access to basic services to the poor.

I hope to hear of many more innovative examples with the potential to replicate – so that we unleash the power of scale.

*Anita Marangoly George is Director, Infrastructure Department, International Finance Corporation (IFC), New Delhi
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