G20 Global Partnership for Financial Inclusion Completes its Work Program Under the Saudi G20 Presidency

From Riyadh, Kingdom of Saudi Arabia

October 04, 2020: The G20 Global Partnership for Financial Inclusion (GPFI) concluded its third plenary meeting on October 02, 2020, aimed to discuss the 2020 G20 Financial Inclusion Action Plan by the Saudi Presidency, which reflects the future work of the GPFI for the next three years.  The GPFI meeting brought together GPFI Troika co-chairs, representatives from G20 countries, interested non-G20 countries, and international organizations.

During the meeting, the Presidency reflected on the “G20 High-Level Policy Guidelines on Digital Financial Inclusion for Youth, Women, and SMEs”, which was endorsed by the G20 Finance Ministers & Central Bank Governors in July. These guidelines provide a set of featured policy options targeting financial inclusion gaps for youth, 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.

“We commend the efforts of the Global Partnership for Financial Inclusion (GPFI) in promoting financial inclusion, especially in these unprecedented and difficult times. Under the Saudi G20 Presidency, the GPFI finalized the 2020 Financial Inclusion Action Plan (FIAP), to be submitted to the G20 Finance Ministers and Central Bank Governors Meeting on October 14th , which sets out the expected action areas and deliverables for the GPFI in the next three years and focuses on two priorities: digital financial  inclusion and small and medium-sized enterprise finance” said Mr. Haitham Al Ghulaiga, the Saudi co-chair of the G20 GPFI.

The G20 High-Level Policy Guidelines are supported by three reports: Advancing the Digital Financial Inclusion of Youth; Advancing Women’s Digital Financial Inclusion; and Promoting Digital and Innovative SME Financing, which are published on www.gpfi.org.

For further information about the G20 including the Presidency Agenda and full program of events, visit www.g20.org.

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[Editor’s note: Screenmancer Staff will cover the G20 this year as part of global key topics coverage.]

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