GPFI holds its Third Plenary under the Indian Presidency

09/13/2023 - 3:40pm

The Third GPFI Plenary under the G20 Indian presidency was held on 25-26 June 2023 in Bali, Indonesia. The focus of the two-day meeting was to discuss, agree and finalize the (i) GPFI Presidency annual priority paper: “G20 Policy Recommendations for Advancing Financial Inclusion and Productivity Gains through Digital Public Infrastructure”; (ii) The G20 Financial Inclusion Action Plan (FIAP) 2023 (iii) Updated GPFI Terms of References (ToR) 2023; (iv) Regulatory Toolkit for Enhanced Digital Financial Inclusion of Micro, Small and Medium Enterprises; and (v) 2023 Update to Leaders on Progress towards the G20 Remittance Target. In addition, the progress of the other GPFI deliverables was also discussed, namely, (i) Report on progress in implementing the G20 GPFI High-Level Principles on Digital Financial Inclusion. (ii) Second Update of National Remittance Plans and case study on the impact of digital remittances in reducing the cost of remittances and (iii) Report on SME best practices and innovative instruments to overcome common constraints in SME financing based on GPFI SME living database. Presentations were also made to apprise the membership about the We-fi Code (We-fi) and GPFI’s relationship with standard-setting bodies (SSBs).

Watch highlights from the event here, here, here and here