Since the publication of Inflection Point in 2016, the landscape of rural agricultural finance has once again changed. With these changes comes an urgent need to develop improved frameworks for understanding the state of the sector. To that end, in this report, we update key sizing numbers from the latest global data—for the first time including agricultural small- and medium-sized enterprises (SMEs). We also introduce new models for understanding how rural clients, financial service providers, and the capital markets can effectively work together. Finally, we present targeted impact and investment theses and new ways of thinking about inclusive rural economic growth. In doing so, we hope to contribute to unlocking the benefits of financial inclusion for the 2.5 billion people who depend on smallholder farming for their livelihoods worldwide.
Gender and Youth supplements to this report will be coming soon.