NEW YORK CITY, May 20, 2026 (GLOBE NEWSWIRE) — Unable to find a job, Roselin Vargas – a young mother in Bolivia – started a small business selling sugar in the local market. When demand took off among vendors, Roselin sought financing to expand, but none of the banks she approached would provide her with credit. That all changed when she found longtime Accion partner and microfinance bank BancoSol. Now Roselin sells flour, sugar, and salt to customers beyond the local markets. She has expanded the business, providing employment for her community, and building a solid foundation for her family’s future.
Access to responsible financial services transformed Roselin’s future, but not everyone has that opportunity. According to the World Bank’s Global Findex 2025, despite progress in many countries, 1.6 billion people remain left out or poorly served by the financial system. Services like savings, credit, and insurance are known to help reduce small businesses’ exposure to shocks1.
For decades, global nonprofit Accion has led the way in inclusive finance, developing responsible solutions that benefit hundreds of millions of people globally. As Accion’s CEO and President Michael Schlein notes: “Accion was shaped by people who refuse to accept a world where economic opportunity is reserved for the few. Over our history, we have helped build 299 financial service providers serving over 500 million low-income clients across 77 countries. But now, for the first time, global progress helping people escape poverty has stalled, making our work more important than ever. As living costs continue to rise for vulnerable communities around the world, they need responsible financial services so they can build better futures.”
On May 20 in New York City, Accion will mark 65 years of its global impact by honoring three leaders from the finance and technology sectors whose work is creating economic opportunity for millions of hardworking people around the world: Michael R. Bloomberg (Founder, Bloomberg L.P. and Bloomberg Philanthropies, Mayor of New York City 2002-2013), Kenneth I. Chenault (Chairman & Managing Director, General Catalyst; Former Chairman & CEO, American Express), and Cristina Junqueira (Co-Founder, Chief Growth Officer, & CEO of the emerging U.S. business, Nu). The gala host committee is chaired by Chairman of the Board, Diana Taylor and Treasurer, Phillip Riese.
Accion’s early work in the informal settlements on the outskirts of Latin America’s biggest cities in the 1960s and 70s quickly showed that access to capital was key to helping the small businesses that powered the local economy succeed. After successfully piloting microloans with communities in Recife, Brazil, Accion helped scale microfinance into what has proved to be a successful model for poverty alleviation and economic development across the globe.
Today, as technology continues to reshape how people around the world communicate, move money, and access information, Accion supports the growth of innovative and disruptive companies that are connecting low-income clients to the digital economy. Artificial intelligence, embedded finance products, and rapidly expanding digital public infrastructure are reshaping the economies of emerging markets. Accion is working to make sure their development and integration into financial services prioritizes inclusion, with strong safeguards in place, so small businesses are not left behind.
Accion CEO Michael Schlein is available for interviews.
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About Accion
Accion is a global nonprofit on a mission to create a fair and inclusive economy for the 1.6 billion people who are failed by the global financial system. We develop and scale responsible digital financial solutions for small business owners, smallholder farmers, and women, so they can make informed decisions and improve their lives. Through targeted investment strategies, advisory solutions, and expert thought leadership, we work with local partners to develop and scale cheaper, more accessible, and customer-friendly financial solutions. Since 1961, Accion has helped build 299 financial service providers serving low-income clients in 77 countries, reaching over 500 million people. More at https://www.accion.org
1 Source: The World Bank, Global Findex Page 12 of Section 1.1
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- BancoSol customer Roselin Vargas