Original Source: CGAP
A clear understanding of how change happens for people living in poverty is central to effective development interventions. In an earlier blog post, we discussed the need to unpack “the black box” between using financial services and improved well-being to understand more clearly the channels through which accessing and using financial services can support development objectives. The blog also introduced CGAP’s effort to develop a nuanced theory of change (TOC) for how financial services could lead to well-being. This work aims to combine our understanding of the impact evidence and our understanding of the constraints faced by different client groups to map out a realistic pathway for the kind of change that should be expected and ultimately measured.
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