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 Represnetative Office in Luxembourg co-hosted by the Ministry of Finance and the Ministry of Foreign and European Affiars 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 countries are planning to:
ECAPI currently comprises seven AFI member institutions: the central banks of Armenia, Belarus, Kazakhstan, Russia, Tajikistan and Uzbekistan, as well as the Financial Regulatory Commission of Mongolia.