The GPFI Implementing Partners undertake and coordinate the implementation of the activities of the GPFI together with other relevant stakeholders and the participating G20 and non-G20 countries. Learn more about key activities, objectives and action points within the GPFI and about the G20's long-term commitment to financial inclusion.
This document is the second GPFI Work Plan and covers the calendar year 2013. It presents the structure of the GPFI, summarizes progress and outlines the work plan for the GPFI Subgroups.
GPFI Work Plan 2011-2012
This document is the first GPFI Work Plan, outlining the key activities, objectives and action points of the GPFI and its Subgroups.
June 2013: The first meeting and official launch of the newly formed GPFI Subgroup on Financial Consumer Protection and Financial Literacy is held in Moscow. At the meeting, the GPFI also welcomed the Organisation for Economic Co-operation and Development (OECD) as a GPFI Implementing Partner.
June 2012, G20 Los Cabos Summit: In their Summit Declaration, the G20 Leaders welcomed the progress made by GPFI on implementing the recommendations set out in its 2011 report and called on the GPFI to continue working towards their full implementation. The G20 Leaders endorsed the Basic Set of Financial Inclusion Indicators developed by the GPFI, designed to improve the quantity and quality of measurement and data on financial inclusion. The G20 Leaders welcomed the GPFI Conference on Standard-Setting Bodies and Financial Inclusion in Basel (October 2012) as a means of helping to create an enabling regulatory environment and called on the GPFI to report progress on this conference to the G20 Finance Ministers and Central Bank Governors in November. Recognizing the key role that SMEs play in economic development, and poverty reduction, the G20 Leaders also welcomed the launch of the SME Finance Compact. The "G20 Financial Inclusion Peer Learning Program" was formalized in Los Cabos: under the program, likeminded G20 and non-G20 countries commit to create national programs mandating actions to promote financial inclusion. The GPFI will guide these efforts of sharing knowledge, experiences, challenges and solutions. In addition, the G20 Leaders supported ongoing efforts to create an additional GPFI Subgroup with a focus on consumer protection and financial literacy issues to complement the already existing three Subgroups.
April 2012, SME Finance Forum: As part of the GPFI framework, the SME Finance Forum is officially launched. The Forum is a collaborative knowledge sharing platform for data, research and best practices for SME finance. It offers tools for policy makers and funders to share knowledge and build networks to encourage innovation and promote scaling-up of successful SME finance models. The Forum is managed by IFC.
January 2012: The World Bank joins the GPFI as an Implementing Partner.
November 2011, G20 Cannes Summit: The GPFI delivered its planned outputs for 2011 to the G20 Leaders. Outputs included a consolidated report of the three Subgroups, a policy framework for SME Finance, a financial inclusion data framework, the launch of an SME Finance knowledge sharing platform, and the announcement of the SME Finance Compact – a partnership with LDCs committed to implementing the SME finance policy framework. The Subgroup on SME Finance provided research reports on Agriculture SME Finance and Women Entrepreneurs Access to Finance. The Subgroup on Principles and Standard-Setting Bodies (SSBs) provided a progress report on its work, including a white paper and country case studies on the SSBs and financial inclusion prepared on the GPFI's behalf by CGAP and AFI respectively. The Subgroup on Data and Measurement produced a progress report with consolidated findings and recommendations based on financial inclusion data and stocktaking analysis, the key performance indicators and the initial approaches to country-level target setting and framed the piloting program with a subset of countries to test the initial target setting framework in coordination with the other relevant GPFI work streams.
December 2010, Global Partnership for Financial Inclusion: The first meeting of the Global Partnership for Financial Inclusion (GPFI) is held in Seoul in December 2010 and three Subgroups are created. The Subgroups are: the Subgroup on Principles and Standard-Setting Bodies (SSBs), the Subgroup on SME Finance, and the Subgroup Financial Inclusion Data and Measurement.
November 2010, G20 Seoul Summit: The SME Finance Challenge winners are announced along with commitments to the SME Finance Framework of $528m (additional pledges were made subsequently). G20 Leaders endorsed a Financial Inclusion Action Plan and called for the creation of the Global Partnership for Financial Inclusion as the mechanism to execute it. An SME finance stocktaking report was delivered to the Leaders. G20 Leaders made development one of their priorities and adopted financial inclusion as one of the nine pillars of the Development Working Group's overall agenda.
September 2010, SME Finance Challenge: The Challenge, run by Ashoka's Changemakers with funding from the Rockefeller Foundation, receives 356 entries by its close in early September 2010. Fourteen winners are chosen by a panel of 5 independent and 3 G20 judges. Canada leads the coordination of the SME Finance Innovation Trust Fund to mobilize the resources to implement the winning proposals.
June 2010, G20 Toronto Summit: The SME Finance Challenge is launched and G20 Leaders, along with the Multilateral Development Banks, commit to mobilize the resources to implement the Challenge winners. Canada publicly commits $20 million for the Challenge. The Principles for Innovative Financial Inclusion, developed by the ATI subgroup, are endorsed.
November 2009, G20 Pittsburgh Summit: G20 Leaders commit to improving access to financial services for the poor. The Financial Inclusion Experts Group (FIEG) is launched with two subgroups: Access through Innovation (ATI) – to develop principles for promoting financial inclusion (in particular through promising innovations) - and SME Finance. The SME Finance Challenge, an effort to elicit proposals from the private sector for the use of public resources to catalyze private sector capital for SMEs, is also announced.