Thu Feb 20 +03 - Fri Feb 21 +03 (almost 2 years ago)
In your timezone (EST): Thu Feb 20 12:00am - Fri Feb 21 9:00am
Riyadh, Saudi Arabia
2nd Finance and Central Bank Deputies Meeting 2020 - The Global Partnership for Financial Inclusion (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, endorsed at the G20 Summit in Seoul.
At the G20 Summit in Seoul, the Leaders of the G20, recognizing financial inclusion as one of the main pillars of the global development agenda, endorsed a concrete Financial Inclusion Action Plan. Financial inclusion was not only prominently included in the Leaders' Declaration, but was also highlighted as an important component under the Seoul Development Consensus and the financial sector reform agenda. Subsequently, the Leaders announced the establishment of the GPFI to institutionalize and continue the work began by the Financial Inclusion Experts Group (FIEG) in 2010. The GPFI was officially launched on 10 December 2010 in Seoul.
The GPFI is the main implementing mechanism of the endorsed action plan by G20 Leaders during the Seoul Summit and functions as an inclusive platform for G20 countries, non-G20 countries and relevant stakeholders for peer learning, knowledge sharing, policy advocacy and coordination. It contributes to strengthen coordination and collaboration between various national, regional and international stakeholders, as called for in Action Item 6 of the G20 Financial Inclusion Action Plan. Spearheading the implementation were the three key Implementing Partners: the Alliance for Financial Inclusion (AFI), the Consultative Group to Assist the Poor (CGAP), and the International Finance Corporation (IFC). In 2012, the World Bank Group and the SME Finance Forum joined the GPFI as Implementing Partner. The Organisation for Economic Co-operation and Development (OECD) joined the GPFI as Implementing Partner in 2013. In 2014, The Better Than Cash Alliance and the International Fund for Agricultural Development (IFAD) also joined as Implementing Partners.
The GPFI's efforts include helping countries put into practice the G20 Principles for Innovative Financial Inclusion, strengthening data for measuring financial inclusion, and developing methodologies for countries wishing to set targets.