Eastern Europe
& Central Asia
Policy Initiative
(ECAPI)

Eastern Europe
& Central Asia
Policy Initiative
(ECAPI)

Launched at the 10th AFI Global Policy Forum (GPF) in Sochi, Russia, in September 2018, ECAPI aims to resolve regional challenges and elevate the voice of Eastern European and Central Asian (EECA) nations on key financial inclusion policy issues.

ECAPI members work closely to improve the availability and quality of financial services across the region, protect consumer rights and financial markets, and strengthen financial literacy. Members exchange best practices and harmonize approaches in the areas of digital financial services (DFS), financial technology (FinTech), consumer protection, financial literacy and education.

In 2020, AFI opened its European Representative Office in Luxembourg co-hosted by the Ministry of Finance and the Ministry of Foreign and European Affairs of Luxembourg.

While the EECA has witnessed significant advancements in financial access in recent years, at least 121 million people remain excluded from formal banking. Through the activities implemented in ECAPI, the member institutions are planning to:

  • Increase access to financial services for the 50 percent unbanked youth
  • Address the regional 6 percent gender gap.
  • Reduce the 25 percent gap in access between those with lower and higher levels of education
  • Focus on advancing financial inclusion for the poorest 40 percent of the population.

7
Active member institutions
7
Countries
29
Policy changes
4
Knowledge products
53
Maya Declaration commitments
1
Leaders’
Roundtable
7
EGFIP Meetings
2
Capacity Building
Workshops
2
Peer Advisory
Programs

Establishment of the European Representative Office in Luxembourg City co-hosted by the Ministry of Finance and the Ministry of Foreign and European Affairs of the Grand Duchy of Luxembourg.
click    for more info

LEADERS

Chair

FRC Mongolia

  • DFS – cybersecurity and data protection, e-KYC & e-ID and interoperability
  • Financial technology for financial inclusion – cross-border remittances and payments
  • Consumer protection – market conduct regulation, supervision and impact measurement
  • Financial literacy/education – consumer-centric financial education, especially for those in remote rural areas and youth and developing over all financial competency

 

  • Share regional financial inclusion lessons among ECAPI members and with the wider AFI network
  • Enhance in-country implementation of financial inclusion policies in EECA
  • Coordinate the development of financial inclusion policies that address regional challenges
  • Reinforce the capacity building efforts of financial regulators within the region to ensure that they keep up with the rapidly changing financial inclusion landscape and mitigate underlying risks
  • Facilitate high-level discussions among ECAPI leaders to provide strategic guidance on addressing the region’s financial inclusion challenges
  • Elevate the voice of the EECA region on key financial inclusion policy issues

 

 

ECAPI activities are implemented and coordinated through the following mechanism:

  • ECAPI LEADERS’ ROUNDTABLE
    ECAPI Leaders, high-level policymakers and regulators, meet at annual roundtable to discuss policy issues and provide strategic guidance. They also meet on the sidelines of the AFI Global Policy Forum to discuss other urgent matters.
  • ECAPI CHAIR and Vice-chair
    The Chair and Vice-chair provides leadership and guidance to the Expert Group to ensure a smooth and successful implementation of the activities. The chair and the vice-chair represent ECAPI in its relations with Governments and other entities./li>
  • EXPERT GROUP ON FINANCIAL INCLUSION POLICY (EGFIP)
    Group of senior officials from AFI member that undertakes the technical implementation of ECAPI activities. The Group provides insights on policy and regulatory approaches to help address pertinent regional and sub-regional challenges of enhancing financial inclusion in EECA

AFI Management Unit coordinates the organization of the meetings of Leaders’ and those of the EGFIP.

 

  • Financial Regulatory Commission of Mongolia
  • Bank of Armenia
  • Bank of Russia (observer)
  • National Bank of the Republic of Belarus
  • Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
  • National Bank of Tajikistan
  • Central Bank of Uzbekistan

 

  • 7 ECAPI EGFIP meetings
  • 4 knowledge products
  • A policy framework on Financial Competency Matrix for Adults and framework for Children and Youth to enhance financial education and literacy
  • Regional framework on e-KYC & digital ID
  • Special report with concrete recommendations on interoperability of Cross-Border Remittance Systems in the EECA Region
  • An AFI Regional Office in Europe (based in Luxembourg) to strengthen the institutionalization of ECAPI and support regional efforts.

 

 

© Alliance for Financial Inclusion 2009-2021