Box 5. Digital financial services contribute to progress toward meeting the UN’s Sustainable Development Goals Adopting digital payments and financial services can help countries achieve their 2030 Sustainable Development Goals. While digital finance would contribute to nearly all of the 17 major goals in some way, it could have a significant impact on ten of them (Exhibit 20). Exhibit 20 Digital financial inclusion directly supports ten of the 17 UN Sustainable Development Goals Goal Impact from digital financial inclusion 1. No poverty  Poor people and small businesses are able to invest in their future  More government aid reaches the poor as leakage is reduced 2. Zero hunger  Farmers are better able to invest during planting seasons and smooth consumption between harvests  More food aid reaches the poor as leakage is reduced 3. Good health and  Increased government health spending as leakage is reduced well-being  Financial inclusion for women can increase spending on health care 4. Quality education  Digital payments to teachers reduce leakage and absenteeism  Micro tuition payments increase affordability  Financial inclusion for women can increase spending on education 5. Gender equality  Digital reduces women’s physical barriers to gaining an account  Women have more control over their finances and their businesses 7. Affordableand clean  Mobile pay-as-you-go schemes create access to clean energy energy  Better targeted subsidies increase use of renewable energy 8. Decent work and  Greater pool of savings increases lending capacity economic growth  Data history of poor and small businesses reduces lending risks 9. Industry, innovation  Digital finance enables new business models and products and infrastructure  More public and private capacity to invest in infrastructure 10. Reduced inequalities  Financial inclusion gives greatest benefit to very poor people  More government aid available as fraud and theft are reduced 16. Peace, justice and  Digital records of financial transactions increase transparency and enable strong communities better monitoring of corruption and trafficking SOURCE: UN Sustainable Development Goals; McKinsey Global Institute analysis Box 5 McKinsey Global Institute Digital finance for all: Powering inclusive growth in emerging economies 55