Queen Maxima of the Netherlands told CNBC she was very worried about the impact of soaring food and energy prices on families, adding that it could lead to increased instability in some areas.

The war between Russia and Ukraine, two major food and energy producers, has disrupted global production, trade and supply in these regions, causing prices to soar.

According to the World Bank’s latest report on the outlook for commodity markets, energy prices in 2022 are expected to increase by more than 50%, while wheat prices are expected to climb by more than 40%.

“An increase in food prices of the magnitude that we are seeing, in energy prices, will basically mean that a lot of families will go from three or two meals a day to one meal a day. fact, likely, will be the source of even more instability in other regions, so that worries me a great deal,” Maxima said, speaking exclusively to CNBC last week at the World Economic Forum in Davos, in Swiss.

Maxima, the UN secretary-general’s special advocate for inclusive finance for development, told CNBC that the pandemic has pushed many more into extreme poverty and that rising fertilizer prices could have short and long term implications. An economist by training, Maxima previously worked in international finance and emerging markets.

“We’re going to see now because of inflation, but we’re going to see next year too, because when you don’t have fertilizer, you can’t increase your yield. So you’re going to see less produce from Africa, who are feeding each other there. So you’re going to have less food, so the prices are probably going to go up even more, that’s very concerning,” she said.

When asked how concerned she was about the conflict in Europe, Maxima told CNBC: “Well, unfortunately, the concern is not just the conflict itself, but my role in financial inclusion. for development, that is, I want to reduce poverty, I want more girls to go to school, I want more people to have a better future.”

She said that while the Covid-19 pandemic has had a negative impact on many, it has also led to positive steps towards financial inclusion.

The shift to digitalization during lockdowns has led many governments to discover the importance of using tools like mobile phones to reach those in need of financial assistance.

“A lot of governments, when the pandemic and lockdown started, thought…this was our way of sending money to the poorest and most vulnerable people, who had to stay locked down, they couldn’t go on markets and sell their products, and that was a very important issue,” she said.

“So, a lot of countries have increased this, I would say, government payments to the people over these two years, and they’ve actually discovered this financial inclusion tool to achieve a lot more other goals that they’re trying to achieve.”

At the World Economic Forum, Maxima said “1.2 billion adults have had access to financial services over the past decade,” but she told CNBC there are likely 1.5 billion more left. . The latest data from the World Bank’s Global Findex, which measures how adults in 148 economies save, borrow, make payments and manage risk, is due this summer.

Maxima said technology is crucial to connecting people.

“Without technology, we wouldn’t have been able to reach the billions of people we can reach now…so fintech can play a really good role. Why? Because they think differently and they can really listen to the needs of a population and design products that truly meet those needs,” she said.

She said that women, rural smallholder farmers, micro-enterprises and the world’s poorest and most vulnerable people most need digital solutions to improve access to finance.

“Unfortunately, after this pandemic, we have even seen groups of women who are actually less connected to the internet, because between the money to spend to have a phone and to put food on the table, well they have chosen to put food on the table,” she said.

“So there’s a very important link between affordability and accessibility of digital solutions as well, to be able to include people financially.”