Financial capability and asset building: innovations in social protection and development

Countries in the global South are implementing social protection and development policies that align with the United Nations’ Sustainable Development Goals (SDGs) to promote well-being globally. This chapter highlights the key role of financial capability and asset building (FCAB) innovations in promoting social development and achieving the SDGs. FCAB innovations have rapidly emerged because increasing evidence shows that financial capability and asset accumulation and preservation are fundamental to social protection and development. The chapter argues that FCAB is crucial for advancing social protection and development and achieving the SDGs in the global South because (1) it is very practical from a resource standpoint; (2) it is readily integrated with other social policies and programmes (for example, child support); (3) it is easily delivered across a large population via emerging information technology; and (4) it defines social policy that is not just an expenditure but also an investment for the society.