G20 Leaders have acknowledged the importance of financial inclusion as multiplier for poverty eradication, job creation, gender equality and women’s empowerment and expressed support of the work of the Global Partnership for Financial Inclusion (GPFI). In their Communiqué, G20 Leaders explicitly welcomed the updated G20 Financial Inclusion Action Plan and the ongoing work on improved access to financing to help SMEs to integrate into sustainable and inclusive global supply chains.
In their annexed G20 Hamburg Action Plan, the G20 welcomed the work of the GPFI achieved under the German Presidency in more detail. Among the commended documents are:
- The updated 2017 G20 Financial Inclusion Action Plan (FIAP).
- The GPFI 2017 Update to Leaders on Progress of the National Remittances Plans.
- The Policy Paper on Climate Smart Financing for Rural Micro, Small and Medium Enterprises.
- The report on Alternative Data Transforming SME Finance.
- The OECD/International Network on Financial Education (INFE) report on Ensuring Financial Education and Consumer Protection for All in the Digital Age.
- The GPFI report on Digital Financial Inclusion: Emerging Policy Approaches.
- The GPFI Guidance Note on Building Inclusive Digital Payments Ecosystems.
Further, the G20 Finance Ministers and Central Bank Governors look forward to the GPFI Policy Paper on Financial Inclusion of Forcibly Displaced Persons (FDPs), that will be finalized in the second half of the German Presidency, and ask the GPFI to develop a roadmap for sustainable and responsible financial inclusion of FDPs until 2018.
Photo Credit: BPA/ German G20 Presidency.
This post was originally published by GPFI on 7/11/2017.