- Digital financial inclusion (DFI), interpreted as promoting the deployment of secure and responsible digitally-enabled financial services and products in G20 and non-G20 countries to provide financially excluded and underserved populations with a range of formal financial services suited to their needs, delivered responsibly, with a focus on effective access, at a cost affordable to customers and sustainable for providers.
- MSME finance, interpreted as improving MSMEs’ access to finance in G20 and non-G20 countries, particularly in low-income and developing countries, through innovative methods (including digital infrastructures) for enhancing growth, resilience and exiting informality.
G20 2023 Financial Inclusion Action Plan
Our aspiration is to build a world where every individual has equal access to formal financial services, irrespective of their location, background or socioeconomic condition. We believe that financial inclusion is a powerful driver of economic growth and social progress, enabling countries to attain at least seven out of the seventeen SDGs and contributing to the 2030 agenda. The G20 2023 FIAP comes at a time when we are only seven years away from our 2030 deadline.
Recognizing the crucial timeline and the role of financial inclusion in enabling countries’ progress towards achieving the relevant SDGs, the GPFI will use the G20 2023 FIAP to build a three-year mission for addressing the ‘last mile’ and moving closer to universal financial inclusion, and hence towards the attainment of SDGs.
For the next three years, the GPFI will focus again on the existing prioritized topics, which have been greatly significant in the efforts to advance financial inclusion globally. In doing so, the GPFI will constantly assess its organization and, if necessary, review its plans, to ensure that they reflect the changing landscape of financial inclusion, identify emerging issues and respond to the evolving needs of GPFI Members.
The priority areas are:
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