financial inclusion day

Financial InclusionDay

ModeratorGaiv Tata, Financial Inclusion Practice and Africa FPD Director, The World Bank Group

Fabiano Coelho, Financial Inclusion Expert, Banco Central do BrasilModupe Ladipo, CEO, EFINANiraj Verma, Senior Financial Sector Specialist, The World Bank GroupYoko Doi, Financial Specialist, The World Bank GroupDavid Porteous, Managing Director, Bankable Frontier Associates

Speakers

FINANCIAL INCLUSION STRATEGIES

Douglas PearceFinancial Inclusion Practice ManagerFPD Forum November, 2012

Wave of Financial Inclusion Commitments – 35 through AFI and G20

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* Financial inclusion commitments made for June 2012 G20 Summit (G20 Peer Learning Program for FI)Bold: Financial inclusion commitments under the Maya DeclarationNB: Other countries have set financial inclusion targets/strategies (inc. prior to 2010-2012), including:

India, UK, Morocco

G 20

• Brazil *• Indonesia *• Mexico *

• South Africa *• Turkey *

Non G20 Africa

• Burundi• Congo Democratic

Republic• Ethiopia• Ghana• Guinea• Kenya *• Malawi *

• Mozambique• Namibia• Nigeria *• Rwanda *• Senegal

• Tanzania *• Uganda *• Zambia *

Non G-20

• Armenia• Bangladesh

• Chile *• Colombia *• Ecuador

• Fiji *• Guatemala• Malaysia• Mongolia• Pakistan• Palestine• Paraguay

• Peru *• Philippines

• Solomon Islands• Uruguay *• Vanuatu

International drivers for financial inclusion commitments Under the “Maya Declaration” 34 financial regulators or ministries of finance have

made the following financial inclusion commitments

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Create an enabling environment that increases access and lower costs of

financial services

Implement a proportionate regulatory framework that

balances financial inclusion, integrity, and stability

Integrate consumer protection and empowerment as a pillar of

financial inclusionUse data to inform policies and

track results

International drivers for financial inclusion commitments

Create a high level coordination platform or mechanism to improve

access to financial services and their usage

• Dedicated unit in financial regulator or ministry of finance, complemented by high level coordination mechanism

•Involves Financial regulators, relevant ministries and agencies, private sector, civil society

• Coordination mechanism for: target setting, catalysing actions and ensuring implementation, monitoring progress.

Develop a National Strategy on Financial Inclusion to achieve specific

goals or targets

• Road maps of actions, agreed and defined at the national or subnational level that stakeholders follow to achieve FI objectives

• Provide a comprehensive framework for prioritizing reforms and actions

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17 countries made commitments in June 2012 under the G20 Financial Inclusion Peer Learning Program for FI, to:

Examples of Financial Inclusion Commitments

Ghana (Bank of Ghana)

• achieve 70% financial inclusion by 2017

• revise payment system strategy

• develop a financial literacy program

Guatemala (Superintendencia de

Bancos)

• create a code of good practice for consumer protection for all financial service providers

• develop transparency and disclosure standards for products and services

Malaysia (Bank Negara

Malaysia)

• ensure 95% of the adult population has access to financial services by 2014

• adopt innovative channels to improve agent and mobile banking

• expand microfinance and long-term savings

Rwanda

• move from 21 % of adult population to have access to formal financial services to 80% by 2017

• Adopt a National FI Policy

• put in place a FI Task Force

• set up FI indicators and monitoring

• adopt a National Financial Literacy Strategy.

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Financial Inclusion Strategies

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Coordinate efforts with all relevant stakeholders, involve the private sector (ideally not ‘top down’), define responsibilities

Expand and improve financial inclusion while maintaining sufficient focus on financial stability, integrity, consumer protection, and market conduct

Prioritized and sequenced, with binding constraints addressed first, and capacity constraints taken into account

Standalone strategies, or action plans under FSD Strategies


A comprehensive approach addresses at least these aspects

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Access to financial services

and products• Allows new or

underserved consumers to take up financial services and products

• Reflects outreach (supply) and demand-side barriers

Usage of financial services and

products• The regularity

and frequency of the take up of financial services/ products

• e.g. av. savings balances, # transactions per account, # electronic payments etc).

Quality of financial services and

products• The degree to

which financial services/ products meet the needs of consumers

• the degree to which they can benefit from them

Impact of financial services/products at firm/household level

• in terms of incomes, poverty, productivity, employment, gender...

Financial Capability and Consumer Protection are relevant to the Usage and Quality dimensions


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Data and Diagnostics

Targets/ Objectives

Strategy

Public sector actions

Private sector actions

Monitoring Progress

Can be broken down into six components

Data & Diagnostics

Country level data and diagnostics

inform the design, sequencing, and modification of

reforms, initiatives

Can also be valuable to the private sector

for adapting the design and delivery of financial services

Indicators can be used to set national targets and monitor progress towards

them

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Targets/Objectives

Strategy



Monitoring Progress

The G20 endorsed a ‘Basic Set of FI Indicators in June 2012:CATEGORIES G20 BASIC SET OF FINANCIAL INCLUSION INDICATORS EXISTING MULTI-

COUNTRY SOURCE

Formally banked adults% of adults with an account at a formal financial institution Global Findex

No. of depositors per 1,000 adults OR No. of deposit accounts per 1,000 adults IMF FAS/Regulators

Adults with credit by regulated institutions

% of adults with at least one loan outstanding from a regulated financial institution

Global Findex

No. of borrowers per 1,000 adults OR No. of outstanding loans per 1,000 adults

IMF FAS/Regulators

Formally banked enterprises

% of SMEs with an account at a formal financial institution WBG Enterprise Surveys

No. of SMEs with deposit accounts/no. of deposit accounts OR No. of SME depositors/no. of depositors

IMF FAS/Regulators

Enterprises with outstanding loan or line of credit by regulated FIs

% of SMEs with an outstanding loan or line of credit WBG Enterprise Surveys

No. of SMEs with outstanding loans/no. of outstanding loans OR No. of outstanding loans to SMEs/No. of outstanding loans

IMF FAS/Regulators

Points of service No. of branches per 100,000 adults IMF FAS/Regulators

Data & Diagnostics: Secondary Indicators in development

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Targets/Objectives

Strategy



Monitoring Progress

Categories Indicators Existing Source Dimension Measured

Payments and Remittances

% of remittance costs reduction

Value of RTGS payments as a % of GDP (global)

# of electronic transactions per capita

Remittances Prices Worldwide (RPW)

Global Payment Systems Survey/Measuring Payment System Development

Quality

Usage

Usage

Other Financial Services

Insurance, Forms of Credit Global Findex Access, Usage

Credit Reporting

# of credit reports issuedCredit % to GDP registered in the system

(additional indicators in development)

Doing Business (data not publicly available)

Access

Financial Capability

Indicator review in draft Financial Capability Surveys (country-level)

Quality

Financial Consumer Protection

New laws /amendmentsDispute resolution mechanisms in place FCP regulatory unitsTransparency measures

Global Financial Regulator Survey

Quality

Data & Diagnostics underpin Targets, Reforms, Product design, Delivery mechanisms

In Mexico, data collection and analysis play a central role in the financial inclusion strategy

• The 2011 National Household Survey of Financial Services Usage was designed and collected to construct a complete view of financial inclusion

• This national demand-side survey includes household motivations for using financial services as well as barriers to greater usage

• The survey is expected every 3 years and will complement other CNBV initiatives to deepen and broaden its financial inclusion data efforts

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Targets/Objectives

Strategy



Monitoring Progress

•Central Bank setting up a FI Secretariat to coordinate across its departments•The FI Secretariat would report to the Financial Services Regulation Coordinating Committee , which would provide updates to the National Economic Council

•Ministry of Finance, Ag/Rural/Telecoms, and the Private Sector, not yet part of the plans

Coordination Structure for FI Strategies/Action Plans

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Nigeria

• FI monitoring is under the supervision of the Central Bank (CBK) • Financial Access Partnership between CBK & financial sector

players/stakeholders, to monitor FI

Kenya

• Financial Inclusion Project at the Central Bank: • integrates stakeholders to develop effective policies for financial inclusion• collects, organizes, analyzes data and research on financial inclusionBrazil

• Vice President’s Office coordinates national FI policy initiatives in close consultation with Bank IndonesiaIndonesia

• FI Taskforce was an independent body that advised HM Treasury and monitored and evaluated progress on financial inclusion. Composed by members from private, public, and non-profit sectors, serving in a personal capacity, and on a voluntary basis

United Kingdom


Targets/Objectives

Strategy



Monitoring Progress

Financial Inclusion Strategies increasingly take into account Consumer Protection, Financial Capability

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Targets/Objectives

Strategy



Monitoring Progress

Financial Inclusion Strategy: Public Sector actions

Government and regulators implement comprehensive package of reforms to encourage financial sector activity and innovation to meet financial inclusion targets

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Regulatory & Supervisory

reforms

To address barriers/constraints to: private sector action and innovation, and

beneficial consumer take-up of services.

Financial infrastructure development

Critical to lower costs and risk for service providers and for consumers.

Time and scope-limited

Public interventions

To address market failures, and stimulate innovation/ expanded intermediation.


Targets/Objectives

Strategy



Monitoring Progress

Financial Inclusion Strategy: Public Sector actions

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Targets/Objectives

Strategy



Monitoring Progress

POLICIES AND REFORMS PROMOTING FINANCIAL INCLUSION REGULATORY & SUPERVISORY REFORMS

Introduction of low income bank accountsCompetition Framework, Bank/NBFI licensing

Consumer Protection Frameworks, Dispute Resolution Systems

Regulatory & Supervisory Frameworks for Micro/SME finance, Factoring, Leasing, Microinsurance...Enable use of agent networks for delivery of FSLegal framework for electronic payments, including e-signature law

Proportionate regulation/supervision of non-bank deposit-taking FIs

FINANCIAL INFRASTRUCTURE

Collateral Frameworks: Movable Collateral Registries, Collateral Law

Credit Information/Reporting FrameworkPayments Systems DevelopmentID schemes to facilitate bank account opening and financial transactions

Appropriate accounting and auditing requirements for SMEsPUBLIC INTERVENTIONS

Partial Credit Guarantee Schemes

Apex Facilities

Financial Awareness, Market Transparency

G2P Payments, CCTs – linked to financial accountsPlatforms to expand access to supply chain finance for MSMEs

Examples of Public Sector Actions

Regulation to promote innovation: PHILIPPINES

• Increased financial access points through allowing a simplified branch called micro-banking office

• Expanded the virtual reach of banks through an electronic money framework• Enhanced loan transaction transparency and consumer protection requiring providers

to use a standard format of disclosure of effective interest rates

Government to person (G2P) payments : INDIA

• India’s National Rural Employment Guarantee Act made more than 45 million payments to poor people living in rural areas

• People can receive their G2P payment from post office saving accounts, bank accounts and from village officials

• So far the vast majority of accounts remain dormant. Nevertheless, banks expect that over time new customers joining G2P programs will generate additional revenue to them

Partial Credit Guarantee Schemes: CHILE & WEST BANK GAZA

• Chile Fogape Portfolio Guarantee model• Allocates guarantees according to % of risk covered• Guarantee fee to banks varies depending on loss rate

• West Bank Gaza• Guarantees linked to technical assistance• Banks receive assistance on SME finance lending

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Targets/Objectives

Strategy



Monitoring Progress

Private Sector Actions: viable business models? Private sector response influenced by public actions:

data, regulatory reforms, targets/decrees, subsidies/risk-sharing, provisioning/risk-weighting requirements, restrictions on innovative

approaches...

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Inclusive/Basic bank accounts with less burdensome opening

requirements and not credit or overdraft facilities at least at first

• They are now present in countries such as Brazil, India, Indonesia, Kenya, Malaysia, Mexico, South Africa, and the United Kingdom

• The Mzansi Account initiative launched in 2004 in South Africa allowed the creation of more than 6 million accounts

Innovative retail payments linked to technological developments such as the use of mobile phones to initiate

and receive payments

• Only 11 countries reported that innovative payment products transactions represent >5% total retail payment transactions

• Only 25% low-income countries process cash transfers and social benefits electronically and this % is only slightly higher for public sector salaries and pensions

• Yet 70 countries reported that usage of innovative payment products is increasing


Targets/Objectives

Strategy



Monitoring Progress

Monitoring Progress, Impacts

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Targets/Objectives

Strategy



Monitoring Progress

Impact evaluation is an empirical assessment of whether a program or policy has achieved desired objectives. It can help policymakers to:• quantify the effects of different policies• design the most effective interventions• improve targeting• refine policies to better fit objectives optimize the scarce use of resources• understand the underlying mechanisms

ExperimentalThese approaches rely on a randomization device that allows the evaluator to isolate the impact of a policy

• Randomized Control Trials (RCTs)• oversubscription• randomized phase-in• encouragement design

Non-experimentalThese methods rely on identifying a control group and then using statistical techniques to ensure the impact

estimate is properly measured

• difference-in-differences• instrumental variables• regression discontinuity• propensity score matching

• Tracking the impact of a policy, regulation, or program during its implementation (real-time impact evaluation) allows modifications to be made that can ensure that the intended impacts are achieved

• Indicators can be tracked on a frequent and regular basis, while less-frequent impact evaluations provide a more rigorous assessment of effects and cost-effectiveness

Monitoring Progress, Impacts

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Targets/Objectives

Strategy



Monitoring Progress

To isolate the effect that a policy has, it is important to do a rigorous impact evaluation instead of relying on before-after comparisons

Impact evaluations planned ahead of the intervention offer more evaluation method options.

There is no “one size fits all” approach to impact evaluation, the most appropriate approach will depend on the operational characteristics of the policy being evaluated

Evaluations can be complemented by qualitative assessments to provide a better understanding on the functioning, limitations, and strengths of the evaluated policy

Data collection is typically the most costly component of an evaluation. Evaluations relying on existing data can save on this component

Impact Assessment Framework offers the following guidance:

Financial Inclusion Strategy implementation, targets met

Investment

Operation

Capacity-building

Data, Analysis, Knowledg

e

World Bank

•Global Knowledge•Country Dialogue/presence•Specialist Expertise•ESW, TA, Data, Financing Mechanisms

Development

Partners

• Networks, info-sharing• Complementary

Expertise• Financing, Funding• Private Sector Focus

WBG support to FI Strategies: mechanismsData and Diagnosti

cs

Targets/Objectiv

es

Strategy



Monitoring

Progress

Technical Assistance

Investment Loan or DPL + Policy Matrix

FINANCIAL MARKET

INFRASTRUCTURE- Payment Systems,

Retail Payments, Mobile Payments, Securities

Settlement, Credit Reporting Systems -

FINANCIAL SERVICES FOR HHs

- Microfinance, Remittances,

Government to Person Payments -

• Technical Guides

• Technical Assistance

• Action Plans for Reforms

• Global knowledge, lesson-sharingFINANCIAL

SERVICES FOR SMEs

- SME Finance, Trade Finance, Agrifinance -

Fina

ncia

l Sec

tor A

sses

smen

t Pro

gram

s (F

SAPs

)

STRATEGY DESIGN, TARGET-

SETTING

DATA, DIAGNOSTICS, MONITORING,

IMPACT ASSMT

PUBLIC SECTOR ACTIONS

(INC. PUBLIC-PRIVATE)

PRIVATE SECTOR ACTIONS

• Household & Individual Surveys

• Regulatory & Market Assessments

• SME Finance Policy Guide, Impact Assessment Framework

• Factoring toolkit

• Enterprise, Financial Institution Surveys

• Regulatory & Market Assessments

• Investment Lending

• Innovation Funding

• Technical Assistance to Financial Institutions

• Pilots of viable business models

• Advisory Services• Risk-Sharing

Mechanisms

Technical Assistance

and Advice for Reforms

DPLs – Policy

Actions

Institution and

Capacity-Building

Systems Develop-

ment

Analytical Reports,

Data

Know-ledge-

sharing

• Reforms• Strengthening enforcement

capacity• Support to private sector codes of

conduct, self regulation• Financial Awareness Programs• Price Transparency initiatives

• Reforms• Guarant

ee Schemes

• G2P/cash transfer programs

• Reforms

• Guarantee Schemes

• Factoring Platforms

STRATEGY STAGES

ACTIVITY AREAS

CONSUMER PROTECTION & FINANCIAL CAPABILITY

- Responsible Finance, Market

Conduct -

• Consumer Protection (CP) / Finl Literacy (FL) diagnostics

• FL Surveys

• Guidance , good practices, standards (inc. with the BIS, CPSS)

• Action Plans for reforms

• CPFL Action Plans

• Good Practices for Financial CP

• Smartkit for FL• FL Impact

studies

• Global Payments Systems Survey

• Finl Market Infrastructure assessments

• Legal & Policy reforms• Systems and Institutional

Development

Financial Inclusion Support Framework TA, Financing, Capacity Building - for Implementation of FI Commitments

Data & Diagnostics Diagnostics: FSAPs, Financial Infrastructure, Consumer Protection, SME Finance, Payments Surveys: Enterprise, Financial Capability, Access to Finance for individuals/HHs

Technical Assistance, Advisory Services Funding enables CSCs/TTLs to scale-up FI

support, address gaps, leverage loans Relevant areas: Micro & SME Finance,

Payments, Financial Consumer Protection/ Literacy, Insurance, Housing Fin, Capital Mkts

In-country capacity: WB specialists, IFC Advisory Services, development partners

Capacity-Building Support for regulators, statistical agencies, industry

associations etc in developing capacity Funding/risk-sharing for critical systems development

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5. E

valu

atio

n

• Up to 15 countries

• $60-70m TA, AAA, capacity-

building• TA & AAA can

complement DPLs/FILs

Reference Framework as a resource

Accessible reference point: Review and synthesis of country experience and modelsLinks to and draws from range of technical guidesCountry matrix of models for FI Strategy componentsCountries can share models, insights (online version)

Focus themes include: Institutional framework: for country-led coordination, monitoring, public and private sector roles Public sector models: for stimulating private sector action,compensating for market failures, providing scale Financial infrastructure: legal & institutional framework Data: sources of data & diagnostics, strengths/ weaknesses, applications

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26

Evolution

• Correspondent Banking

• Savings accounts

• Co-operative system

• Microcredit

Financial Inclusion - Brazil

2727

Research CNI/ IBOPE –

Acesso ao sistema bancário

• 37% dos entrevistados não possui conta corrente ou de poupança.

25%

16%22%

36%

Possui conta corrente ou conta de depósitos de poupança? (%)

Sim, somente conta corrente Sim, somente conta poupançaSim, ambas Não

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Cooperativas – PAC/Sedes por 10.000 adultos (2000)

Inclui: Sedes, Agências, PAC e PAE

Pts por dez mil adultos Municípios0,00 4.0990,01 a 7,5 1.3897,51 a 15 1915,01 a 25 0Mais de 25 0

1 2

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Cooperativass – PAC/Sedes por 10.000 adultos (2010)

Inclui: Sedes, Agências, PAC e PAE

Pts por dez mil adultos Municípios0,00 3.3390,01 a 7,5 2.1447,51 a 15 7615,01 a 25 5Mais de 25 1

1 2

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Thank you!

[email protected]

Bacen/Denor

mailto:[email protected]

India’s Financial Inclusion Approach

Niraj Verma, SASFPFPD Forum and Learning Week – Financial Inclusion Day

November 8, 2012

Agri-coops,

Post office savings,

remittances

Imperial Bank to

SBI – rural branches

Nationalize banks – grow rural branches, mandated

priority lending

Apexes – NABARD and later

SIDBI, rural

banks (RRBs),

growth of rural

branches

Microfinance – MFIs and SHGs

(NGO driven)Indexed

crop insurance establishe

dGrowth of

private sector banks

Rapid MFI growth

Weather indexed

insuranceStart of

Banking-Correspondent (BC) models

Reforms – rural

banksAND Rapid

growth of SHGs (Govt

driven)

Clash between govt SHG and MFI

programsFocus on

responsible financeGovt push

- BCsMarket

infrastructure

development – CIBs,

UID

???

1900 1950s 1960-70s 2000s1990s1980-90s 2010-12 ??

“Govt must do” ………………………………………Market can play some role…………… “Govt enabler /facilitator, market doer”

Financial inclusion in India : a snapshot over time

Banks as ‘Public Utilities’ Banks + More market based approaches

Characteristics - India’s Financial Inclusion approach

Specialized institutions/

apexes

Banking Public utility

function; mandates…

Multi-agency/channels

Priority sector: 40%

Innovations: product and

delivery

Market infrastructure

Banks

Rural banks

Rural Coops

MFIs

POs

SHGs

BCs

Apexes

UID

Credit info. bureaus

MFI regulations

Grievance redressal…yet market

players welcome…

Mixed approach

FI = S + C + R + I

Sharp focus: devpt + political

economy lens

What has this achieved

Innovations

Indexed crop insurance -29 mn

UID – biometric dB, ‘permeation strategy’,

G2P

Microfinance – commercially funded

Kissan Credit Card

Outreach

Deep retail network

POs 160 mn savings a/cs

5 mn SHGs

45 mn credit a/cs (banks)

45 mn credit a/cs (coops)

27 mn loan a/cs (MFIs)

29 mn insured farmers a/cs

Market infrastructure

80 mn MFI loan a/cs with CIB

Lenders driven responsible finance

Regulation focused on responsible

finance

What lessons and what nextMuch done and much to do: Access has expanded significantly…yet, a large % of households lack adequate A2F

- State: has a justifiable role, but has to evolve with market & use ‘smarter subsidies’

- Priority sector: Redistributive policy - What if not there? Cost and/or opportunity?

- Expanding market infrastructure (incl. responsible finance) and outreach- Credit information - Better regulation/supervision & ‘Smart’ oversight (Lenders leverage for responsible finance)- ESR mantra: support channels that can be Efficient, Scalable and Responsible

- Use multiple channels, using comparative advantage as key principle- MFIs: for credit and BCs for deposits- POs, banks, mobile cos., remittance cos.: payments

- Leveraging existing retail networks optimally:- Distribution to ‘last mile’ is expensive, leveraging is critical

- New product development and process innovation- Combined weather and area yield indexed crop insurance, warehouse receipts- Technology application (mobile phones for insurance, payments, etc)

8 November 2012Yoko Doi

Senior Financial SpecialistFinancial and Private Sector Development

DepartmentThe World Bank Indonesia

36

FPD Forum 2012 & Learning WeekFinancial Inclusion Day: National Strategies for Financial Inclusion

Indonesia’s commitments towards Financial Inclusion

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2007 2008 2009 2010 20112012

Fin Literacy for MWs

NSFI development

Microinsurance Regulatory Framework

TabunganKu (Basic bank account)

MW Microinsurance Reform

Branchless Banking

KUR (GoI Credit Guarantee Program)

Pilot of CCT through Bank account

E-money, NPGW, Int’l Remittance Services etc

Indonesia hosted ASEAN meetings: Financial Inclusion became one of priority area

for discussion

Bank Indonesia co-hosted AFI annual

meeting in IndonesiaG20 meeting in Los Cabos, the President signed the

joint commitment together with Mexico and Chile to a

reciprocal learning program on financial inclusion

1st ASEAN Financial

Inclusion Week hosted by Indonesia

Gov Mid-term Development Plan 2010-2014: (Improving A2F for MSMEs and MWs)

Bapepam LK Master Plan 2010-2014 (Facilitation of Microinsurance Development)

Ayo Ke Bank Initiatives (Public Financial Education)

Financial Identity Number for MSMEs Initiatives

Reform on PNPM Mandiri RLFs Scheme

The World Bank Engagement in Indonesia

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2007 2008 2009 2010 20112012

Diagnostic Stage Individual Projects(TA to GoI etc.)

Macro / National Strategy & Individual Projects

Research on Fin. Literacy Assessment on MWs

TA for Fin Literacy for Migrant Workers

NSFI development

Microinsurance Regulatory Framework Microinsurance

Marketplace

Evaluation of TabunganKu (Basic bank account)

Review on MW Microinsurance

Reform on GoI funded PNPM Mandiri RLFs Scheme

Branchless Banking regulatory review

Assessment on KUR (GoI Credit Guarantee Program) & M&E Advice

Islamic Finance for MSMEs

Strengthening Savings & Loans

Cooperatives

TA for Central Bank Payment System Dept

(E-money, NPGW, Int’l Remittance Services etc).

DPLs

Two Diagnostics Studies Series of dissemination and public awareness efforts on Financial

Inclusion

Indonesia: Financial Inclusion: Measures & Challenges Effective Measures

High-Level of Commitments (President, Governor of Central Bank and Minister levels)

Development of National Strategy and a series of policy discussions among various ministries and regulators

Challenges Degree of understanding of Financial Inclusion among policy

makers is diverse. i.e. beyond credit, beyond banking sector, beyond financial sector, linking it into poverty reduction & local economic development , and linking it to public policy and public finance;

Coordination among regulators / government agencies and private sectors and establishing effective partnership;

Creating Financial Inclusion as an integrated agenda for other government priorities (i.e. Poverty Reduction, Local Economic Development etc.);

Data collection, Monitoring and Evaluation (M&E) for effective policy reform / policy development;

Setting long term goals with sustainable form of financial inclusion for policy makers

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The role of the World Bank in supporting financial inclusion priorities

Providing awareness of Financial Inclusion and broader concept sof Access to finance among senior policy makers / regulators and private sectors

Bringing Global Practices and Lesson learnt from other countries including on-going discussions

Research (i.e. Diagnostic studies), Policy Advice and Technical Assistance

Facilitating coordination among regulators and ministries, and private sectors

Analyzing on-going Gov priorities (challenges) and advising to include Financial Inclusion components/elements to these priorities (Holistic approach)

Monitoring and Evaluation (M&E) and on-going policy adviceResources: Trust Funds (country focused / Area focused (i.e. FIRST

Initiatives) ) Cross Support from Practice Groups Cross Support to other department (DEC. SD. HD etc) Joint-Work with IFC 40

The video and presentations from today’s workshops will be available

online on the OneFPD website.

Type “financialinclusion” into your intranet browser, and click on

learning.

financial inclusion day

Documents

financial inclusion

financial specialist

financial regulators

loan outstanding

outstanding loansno

basic set of fi indicators

world bank groupfabiano

world bank groupdavid