Maximizing the impact of megaprojects: Urgent implications of financial inclusion drive for effective anti-poverty measures

Abstract

Megaprojects are becoming more and more essential for poverty reduction and inclusive development. Regrettably, the CPEC mega project has yet to yield successful outcomes in Pakistan. The incorporation of financial inclusion (FI) has the potential to catalyze its outcomes. Despite abundant studies on advanced CPEC applications and poverty reduction techniques, the relationship between FI and CPEC has been the subject of relatively little research. Therefore, we analyzed CPECD and FI, specifically emphasizing economic opportunity, growth, and poverty reduction (PR). The study accounted for the viewpoints of small and medium-sized enterprises (SMEs). Using Amos 24 and the Process Macro, we analyze the mediational and moderated mediational models. The findings show that CPECD reduces poverty. Opportunity and growth both significantly influence the outcome. FI practices enhance the opportunity and growth link between CPECD and PR. Therefore, it is imperative to address the issue of FI shrinkage, as it could impede the efforts of SMEs to promote inclusive growth and alleviate poverty.

Keywords

• CPEC
• Poverty reduction
• Inclusive growth theory
• Social exchange theory
• And financial inclusion