What the GPFI Subgroups are Working on in 2015

07/14/2015 - 11:51am

Updated work plans for the G20’s Global Partnership for Financial Inclusion and its four Subgroups are now available on GPFI.org.

The GPFI organizes its work through four Subgroups. The overall GPFI 2015 Work Plan highlights key outcomes for each Subgroup, and includes a chart of all Subgroup outputs and a timeline of GPFI events.

Key outcomes for each Subgroup in 2015 include:

Regulation and Standard-Setting Bodies Subgroup: Further mainstream the work of the SSBs and other relevant global bodies and increase understanding of the interdependence of financial inclusion, stability, integrity, and consumer protection. (Read the full Work Plan.)

SME Finance Subgroup: Realize access to finance for SMEs at the country level, implementing the SME Finance Compact in low-income developing countries (LIDCs) in particular, and scale up engagement with the private sector to deliver innovative financial inclusion solutions to help close the SME finance gap. (Read the full Work Plan.)

Financial Literacy and Consumer Protection Subgroup: Promote consumer protection and financial education good practices for digitally delivered financial products and services. (Read the full Work Plan.)

Markets and Payment Systems Subgroup: Work to reduce the cost of sending remittances, as well as address the issue of financial institutions closing the bank accounts of non-bank remittance service providers. (Read the full Work Plan.)

The GPFI is an inclusive platform for all G20 countries, interested non-G20 countries and relevant stakeholders to carry forward work on financial inclusion, including implementation of the G20 Financial Inclusion Action Plan.

(Photo Credits: Bulent Suberk/2014 CGAP Photo Contest)