World Bank Group

 
 

Topic: Evaluating Investments in Financial Technologies to Address Poverty and the Informal Economy in Developing Countries

Across the world, global poverty continues to endanger the livelihood of millions of people. Most governments in developing countries lack the capital stock and funds to properly address these issues. The informal economy, where many work without access to labor rights, minimum wage salaries, and other protections, fuels instability in the labor market. Entire populations are continuously at risk, and little is done to help effectively end the poverty cycle and improve the formalization of the economy. More often than not, the informal economy is a product of a lack of financial literacy and access to financial services. In the past decade, many technologies have been developed to help bridge this gap. From microfinance and cryptocurrencies, to educational and accessible financial services; there are many new options that can help address the issues being faced by millions. However, developing these technologies often carries a large risk and requires a steep initial investment. This committee will focus on addressing the cost-benefit relationship between providing money to be invested into these technologies, with the goal of alleviating poverty and reducing the informal economy. Ultimately, you will decide how much to invest, where to invest it, and why.

 

Esteemed delegates,

It is an honor to welcome you to Harvard University's Model United Nations conference. My name is Luis Pedro (LP) Chávez and I am excited to be your director for this committee! I grew up in Guatemala City and am a current sophomore at Harvard University.  I study Economics and am very passionate about international affairs. Outside of class, I am involved in the Business Board of The Harvard Crimson and as treasurer for Harvard's Organization for Latin America. I have always been interested in international relations, so I joined my school's Model United Nations team when I was 12. Since that moment, I have had the opportunity to participate in several international conferences, as a delegate and also as a director. At Harvard, I serve as a board member for the International Relations Council and as the Under-Secretary-General for Committees for HNMUN Latin America.

Our committee at HMUN is going to be a unique experience where you get to simulate the board of directors of one of the most important financial institutions: the world bank. This advanced simulation will challenge your problem solving and analytical abilities, while developing your diplomatic and resolution-writing skills. In this committee, you will  evaluate the feasibility and value in providing funds to financial technology companies. This, with the objective of alleviating poverty and formalizing the economies of developing countries. 

I am extremely confident in your abilities to come to consensus in regards to this very current issue. In fact, the simulation you will participate in will likely resemble (though a bit less technical) one of the actual World Bank board meetings. I have high expectations for the committee and am confident in your preparation and ability to allocate resources effectively. Truthfully, your performance in the committee will be a product of your preparation, commitment, engagement, and excitedness. I am eager to see innovative solutions and negotiating skills. Finally, rest assured I am at your disposal for any questions you may have in preparation and throughout the conference. Again, I am excited for this committee and I hope you are too.

Sincerely,

LP Chavez

Director, World Bank Group

wbg@harvardmun.org

Harvard Model United Nations 2025