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Interest in access to finance has increased significantly in recent years, as growing evidence suggests that lack of access to credit prevents lower-income households and small firms from financing high return investment projects, having an adverse effect on growth and poverty alleviation. This study describes some recent innovative experiences to broaden access to credit. These experiences are consistent with an emerging new view that recognizes a limited role for the public sector in financial markets, but contends that there might be room for well-designed, restricted interventions in collaboration with the private sector to foster financial development and broaden access. The authors illustrate this view with several recent experiences in Latin America and then discuss some open policy questions about the role of the public and private sectors in driving these financial innovations.

Access to Finance --- Banks and Banking Reform --- Credit Guarantee --- Debt Markets --- Emerging Markets --- Environment --- Environmental Economics and Policies --- Finance and Financial Sector Development --- Financial development --- Financial markets --- International Bank --- Investment projects --- Market Infrastructure --- Private Sector Development --- Public banks --- Return --- Transaction --- Transaction Cost