G20 Leaders Embrace the Alliance for Financial Inclusion (AFI) Peer Learning Model for Advancing Financial Inclusion
Los Cabos - At the conclusion of the G20 Leaders’ Summit held in Los Cabos, Mexico from 18-19 June 2012, an official communiqué was circulated highlighting the launch of a G20 Financial Inclusion Peer Learning Program focused on supporting the development of financial inclusion strategies across the globe. In the communiqué, AFI was identified as a key implementing partner for the program. The G20 also recognized the importance of the AFI network’s Maya Declaration and encouraged other nations to make financial inclusion commitments.
The announcement represents global recognition of the successful platform at the core of the AFI network. As noted by the Deputy Governor of the Central Bank of the Philippines, Nestor Espenilla, “AFI's work has been anchored on the peer learning framework. From the facilitation of targeted knowledge exchange programs, to working groups comprised of members with shared interest and expertise, to the web-based tools such as the Member Zone and Global Policy Forum.” Representing 87 institutions from 80 developing and emerging nations, the AFI network is a driving force in developing and implementing financial inclusion policies which have a real impact on the lives of the world’s poor. Now, as the implementing partner for the G20 program, the AFI network will see its successful peer learning platform expanded, bringing a world of experience and knowledge on financial inclusion issues to the global forum.
A special session on financial inclusion, led by Mexico’s President Calderón, and HRH Princess Maxima of the Netherlands, was held ahead of the meeting of G20 Heads of State in Los Cabos. AFI member institutions from Mexico, the Philippines, Nigeria, Brasil, Fiji, Tanzania, Kenya and Colombia were present. AFI members noted that the peer learning program would support them in achieving their Maya Declaration commitments, and could serve as an inspiration for other countries to make financial inclusion commitments of their own.
Speaking after the conclusion of the Summit, AFI’s Executive Director, Alfred Hannig, acknowledged the importance and historical significance of this announcement. “I am of course pleased to see the efforts of the AFI network, and the commitments made by members under the Maya Declaration, recognized by the G20,” said Mr. Hannig, “but more than that, I am happy to see the importance of financial inclusion policy highlighted in this way. The long term benefits of smart financial inclusion policies, developed and implemented through peer learning, will have a positive impact on the lives of billions.”
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