News

News

Jul 19, 2020 |
The focus on Youth reflects the fact that almost half of the world’s 1.2 billion young people aged between 15-24 remain unbanked.  The Report examines the factors that contribute to youth financial inclusion and the role of digital financial services in meeting young people’s financial needs, and explores opportunities and challenges relating to advancing youth digital financial inclusion.  It sets out a range of policy options for policy makers based on data, research and country approaches, to advance the appropriate and safe digital financial inclusion of young people, including ensuring appropriate financial consumer protection and financial education.  These policy options form part of the basis for the G20 High Level Policy Guidelines on Digital Financial Inclusion for Youth, Women, and SMEs.  Advancing the Digital Financial Inclusion of Youth reflects inputs and guidance from GPFI member countries, Implementing Partners, Affiliated Partners and other key stakeholders, particularly members of the G20/OECD Task Force on Financial Consumer Protection, FinCoNet, the OECD/International Network on Financial Education, the Arab Monetary Fund and the Alliance
Jul 19, 2020 |
The G20 High-Level Policy Guidelines on Digital Financial Inclusion for Youth, Women and SMEs (HLPGs) provides sets of featured policy options targeting financial inclusion gaps for youth (subject to child protection frameworks where relevant), women and SMEs through digital financial services in order to reach conditions in which all people can live, work and thrive; as well as utilize and share benefits of innovations and digitalization. The G20 High-Level Policy Guidelines are supported by three reports: (1) Advancing the Digital Financial Inclusion of Youth; (2) Advancing Women’s Digital Financial Inclusion; and (3) Promoting Digital and Innovative SME Financing. The supporting reports emphasize the importance of fostering responsible finance through increased access to digitally enabled financial services as well as addressing relevant cross-cutting issues, including financial consumer protection and financial literacy. Download the Guidelines here:
Jun 29, 2020 |
The G20 High-Level Policy Guidelines presented to members during the plenary identify supportive and effective policies that will be a valuable resource for governments, the private sector and the international development community, with the aim of reducing the gaps in financial inclusion for youth, women and SMEs through digital financial services. This work is guided by the Saudi G20 Presidency theme of “Realizing Opportunities of the 21st Century for All” and the aims of Empowering People and Shaping New Frontiers. The agenda from the plenary is available here.
Jun 29, 2020 |
As governments around the world have responded to the health, social and economic effects of the COVID-19 pandemic, digitalization has been recognized as being of paramount importance and relevance in ensuring continuity of access to financial services. The GPFI members issued a Statement on COVID-19 Response, reaffirming the G20 commitment under the G20 Action Plan in response to the COVID-19 pandemic. Read the statement here.
May 18, 2020 |
Annual aggregate data is captured annually for only a minority of the world’s countries by the IMF, OECD and others.  Little if any data is available at country level on financing for women entrepreneurs, young entrepreneurs or other key segments of interest to GPFI’s Financial Inclusion Action Plan.  Data collected by the IFIs and DFIs is uncoordinated, inconsistent and usually incompatible with national SME definitions and reporting requirements to financial sector regulators.  Despite recognition of the importance of data for sound policymaking in SME financing and financial inclusion in general, there is much room for improvement.  The G20 countries could play an important role in spurring greater coordination and harmonization at both levels of data collection and dissemination.
Feb 6, 2020 |
The Plenary sessions focused on the Saudi priorities and deliverables, the approach to finalizing the activities under the “GPFI Work Program and Structure: A Roadmap to 2020”and discussed the 2020 Financial Inclusion Action Plan (FIAP).  
Feb 6, 2020 |
Speakers from G20 members and non-G20 countries, International Organizations, NGOs, MDBs, as well as regional and international regulators, and private sector stakeholders came together in this event to share their insights and knowledge for the GPFI and the G20 Presidency. The overall objective of the Seminar was to review the opportunities and challenges of harnessing digital and innovative technologies to Advance Youth’s Digital Financial Inclusion, to Empower Women through Digital Financial Inclusion, and to Promote Digital and Innovative SME Financing.
Jan 17, 2020 |
Visit the publications page for country updates toward national remittances targets.
Jan 16, 2020 |
Visit the publications page for more information and to download the paper.