Alma Economics carried out an economic appraisal to assist in the design and development of a Prosperity Fund Turkey financial services programme to support inclusive growth and reduce poverty.

As part of this work, we set out detailed impact chains mapping the pathways through which the programme could generate impacts on financial development – measured by the growth of financial assets, financial inclusion, the alleviation of poverty, and economic growth in Turkey. We designed a cost-benefit analysis (CBA) framework to monetise these impacts for Turkey, as well as others for the UK economy.

Our CBA framework evaluated different programme options (including a multi-sector financial services programme targeting barriers across key areas of interest and a more limited offer dealing with selected barriers) and compared them with a “do nothing” scenario.

Our analysis fed into the development of a robust evidence base on the benefits of the different options for key areas, including poverty reduction, financial inclusion and access, the development of capital markets, and the FinTech ecosystem.