Citi / DfID / CSFI Fellowship in Development

(2009 - 2013)



Sam Mendelson is Arc Finance's Knowledge Specialist, working with project partners to gather impact data. He is co-author of the CSFI Microfinance Banana Skins series.




Citi is a global banking and financial services corporation.




The Department for International Development is responsible for administering UK government international aid.



Inclusion or delusion? 
How can financial institutions reach the un(der)-banked in low income countries?

This report is the culmination of a two-year fellowship in International Development at the CSFI, generously funded by Citi and DfID. The Fellowship consisted of a series of round-table events based around three themes:

  • who are the clients for financial services in low and middle-income countries, and what are their needs?

  • how well do the products on offer match those needs? and

  • what can be done to improve financial capacity?

Click the report cover to download a PDF copy. 



The purpose of the Fellowship was to connect UK financial services professionals with development experts in emerging market countries to discuss how best to provide sustainable financial services that make a positive difference to people below or just above the poverty line.

The programme built on previous work undertaken for the CSFI by Mark Napier, former ceo of the FinMark Trust. His report, "Including Africa - beyond microfinance", is available for download. 


Working Groups Reports

Working Group 1: The financial lives and needs of the un(der)banked

Working Group 2: Financial products

Working Group 3: Financial capability

February 27, 2013

Financial capability of low / middle income clients

  • Shaun Mundy (Financial Literacy Group)

  • Sian Williams (Toynbee Hall)

  • Sam Mendelson (Development Fellow)

October 22, 2012

Working Group 3 Planning Session

October 9, 2012


  • Richard Leftley (Microinsure)

  • Graham Wright (MicroSave)

  • Sam Mendelson (Development Fellow)

July 3, 2012

Working Group 2 Planning Session

June 12, 2012

Fellowship Update Session

  • Rosalind Copasorow

  • Sukhwinder Arora (Oxford Policy Management)

  • Sarah Livingstone (Maxwell Stamp)

  • Sam Mendelson (Development Fellow)

July 15, 2010

Responsible investment in frontier markets

  • Rory Sullivan (Better Returns in a Better World/Oxfam)

  • John Hess (Altius)

  • David Paterson (NAPF)

  • Sam Mendelson (Development Fellow)

June 15, 2010

Financial Transaction Taxes

  • Neil McCulloch (IDS)

  • Stephane Voisin (Crédit Agricole Cheuvreux)

  • Chris Wales (FTI Consulting)

May 14, 2010

Regulating Retail Lending in Emerging Markets

  • Gabriel Davel (South Africa's National Credit Regulator)

  • Stephen Mills (CRB Africa)

  • Faisel Rahman (Fair Finance)

  • Andre Hattingh (VISA)

March 25, 2010

Trade Finance

  • Peter Lilley MP

  • Jackie Keogh (Standard Chartered)

  • Margrith Lütschg-Emmenegger (Fimbank)

January 21, 2010

Investment in Africa

  • Rod Evison (CDC)

  • Sam Mendelson (Development Fellow)

December 7, 2009

Promoting Savings

  • Bob Christen (Gates Foundation)

  • Jane Platt

October 5, 2009

Credit and the Emerging Consumer

  • Dave van Niekerk (Blue Financial Services)

  • Mark Napier

  • Malcolm Harper

September 15, 2009

Cocktail Launch Party