G20 Development Working Group Submissions
Action 3: Implement the Action Plan for Financial Inclusion
36. "Implement the G20
Financial Inclusion Action Plan
to promote the application of the
Principles for Innovative Financial
Inclusion and the lessons learned
from the SME stocktaking
exercise. The actions to be
implemented include:
(i)
advance the
implementation of the principles
through a commitment by each
G20 member to implement at
least one;
(ii)
encourage the standard-
setting bodies to further
incorporate financial inclusion
objectives into their work;
(iii)
encourage further private
sector activities to increase
access to financial services;
(iv) strengthen and expand
data availability for measuring
financial inclusion and
methodologies for countries that
wish to set financial inclusion
targets;
(v) support peer learning,
capacity building and training;
(vi) improve coordination at
the national and international
levels; and
(vii) integrate financial
inclusion into financial
assessment programs" (2010
MYAP).
(i) 2011: A GPFI report on Bringing the
Principles to Life
(ii) SSBs incorporate financial inclusion
issues into standards and guidances:
2012
revised Basel Core Principles,
2011 - Insurance Core Principles, and 2012 -
FATF Recommendations, and
2013 revised financial inclusion guidance
(iii) June 2012: the Financial Inclusion
Challenge: Innovative Solutions to Unlocking
Access
(iv) 2011: A GPFI report on stocktaking key
data initiatives and initial target-setting approaches:
June 2012: The G20 Basic Set of Financial
Inclusion Indicators
2013: An analytical report on IFI/DFI
harmonization of SME reporting available, GPFI
dissemination is underway
2013: Development of the Advanced Set of
Financial Inclusion Indicators
(v) February 2012: The G20 Peer
Learning Program; the Financial Inclusion Council
(representing all public bodies relevant to financial
inclusion policy) and financial inclusion strategy
development under the Peer Learning Program
(vi) January 2011; March 2012: High-
level meetings of SSB leadership co-convened by
GPFI Honorary Patron and Basel Committee Chair
October 2012: high level conference with five
global SSBS, G20 and non-G20 countries
(vii) financial inclusion incorporated in FATF
new effectiveness methodology – increasingly part
of Financial Sector Assessment Programs
(vii) lessons from SME stocktaking
exercise are deepened through consultations with
developing countries; SME finance policy guide
is used as a reference point for governments
and regulators to underpin the development
SME finance policies, programs and/or Action
Plans; and an Impact Assessment Framework for
monitoring and evaluating those policies, programs
and actions.
T:
November 2010
(adopt the plan);
November 2011
(report); 2013
Ongoing
The FIAP has
been adopted,
its realization
continues and
will be revised
next year
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