Aug 9, 2021 |
The first day of the meeting was dedicated to remittances. Important objectives have been achieved in this area, especially in reducing the average cost of transfers. However, it appears to be necessary to continue to monitor the market at an international level to continue on a path of ever-greater efficiency. The offer conditions and service levels are not yet satisfactory, especially for some corridors and for some countries. These activities are even more critical if one consider that, despite the difficulties posed by the pandemic, the flows of remittances have remained substantially stable, confirming that they are a necessary and irreplaceable source of funding for recipient families in the poorest countries.
Apr 6, 2021 |
During the meeting, which was divided into four sessions, the Group members discussed the GPFI work programme for the upcoming year, based on the priorities established by the Presidency and the commitments in the GPFI's Financial Inclusion Action Plan (FIAP). The focus of the meeting was on the best strategies to increase citizens' and businesses' awareness of digital finance opportunities and of the safeguards aimed at protecting them from the risks of financial exclusion. The GPFI also addressed the issue of migrants' remittances. Click here to read the plenary agenda. Click here to read the co-chairs' summary of the plenary.
G20 leaders highlight during the Riyadh Summit the importance of restoring strong and inclusive growth amid the COVID-19 pandemic
Nov 30, 2020 |
In the G20 Riyadh Summit Leaders’ Declaration, the G20 Leaders have stated the following “We also endorse the G20 High-level Policy Guidelines on Digital Financial Inclusion for Youth, Women, and SMEs prepared by the Global Partnership for Financial Inclusion (GPFI). We welcome the 2020 G20 Financial Inclusion Action Plan, which will guide the work of the GPFI for the next three years.”
Nov 20, 2020 |
Learn more about the G20 National Remittance Plans.
Oct 20, 2020 |
In addition, GPFI members were provided with an overview of the G20 Financial Inclusion Action Plan Progress Report 2017-2020; the finalized 2020 Financial Inclusion Action Plan (FIAP), which reflects the future work of the GPFI for the next three years; and the 2020 Terms of Reference (ToR), which is the last milestone that marks the completion of GPFI’s work program and structure on streamlining “A Roadmap to 2020” that was mandated by leaders in 2018.
Oct 20, 2020 |
The GPFI will be responsive to new global issues as they arise, adequately frame the Partnership’s work to reflect current circumstances and address the crisis impact and the post-crisis economic effects. The GPFI reaffirms the G20 Leaders’ commitment to advance financial inclusion benefiting all countries and all people, including vulnerable (such as elderly people, migrants and forcibly displaced persons) and underserved groups (including the poor, women, youth, and people living in remote rural areas).
Oct 20, 2020 |
Click here to download the document.
Oct 20, 2020 |
Click here to download the report.
Sep 16, 2020 |
The Report on Unlocking Finance for Youth Entrepreneurs: Evidence from a Global Stocktaking prepared for the G20 GPFI by the World Bank Group/IFC and the SME Finance Forum presents good examples from various countries and points to how good practices can be encouraged through enabling policy environments. Click here to download the report.
Jul 19, 2020 |
Digital financial services have expanded opportunities for millions of women across the globe. More than 240 million more women now have an account with a financial institution or mobile money service, compared to 2014. Through this increased engagement in the formal economy, women’s resilience to financial, economic and health shocks is improving. However, there remains much work to do to achieve gender equality in financial services. Approximately one billion women do not have formal financial services, due to persistent barriers in access to identification documents, mobile phones, digital skills, financial capability, as well as inappropriate products and more. Endorsed by G20 finance ministers, the report outlines 10 policy options to enable G20 members and other governments to rapidly work towards digital financial inclusion of all women. These will not only drive women’s greater economic participation but will also speed up economic recovery. Click here to download the report. Video 1: