The Global Partnership for Financial Inclusion (GPFI) is the main implementing organization for the G20 Financial Inclusion Action Plan. The group engages partners from G20 and non-G20 countries, private sector, civil society, and various regional, national and international bodies for systematic coordination and implementation of the Action Plan.
The GPFI builds on the strength and the process of the G20 Financial Inclusion Experts Group (FIEG) (2009-2010), and relies on three key implementing partners: the Alliance for Financial Inclusion (AFI), the Consultative Group to Assist the Poor (CGAP), and the International Finance Corporation (IFC). Within the GPFI, AFI has been given a special mandate to foster the participation of non-G20 developing countries.
At the launch of the GPFI in Korea in 2010, three sub-groups were formed to implement concrete actions:
- Sub-group on the G20 Principles and Standard Setting Bodies (SSBs)
This sub-group supports putting the Principles for Innovative Financial Inclusion into practice through providing information on the Principles and supporting various implementation activities. The group also works to embed financial inclusion in the work of Standard Setting Bodies through ongoing dialogue and exploration of ways to improve the treatment of financial inclusion in various financial system assessments.
- Sub-group on financial inclusion data and target setting
This sub-group engages the different GPFI stakeholders with the goal of forming a general consensus on data and measurement issues, which include common definitions of the components of financial inclusion and consistent methodologies to inform, measure, and set targets. The group also facilitates actions to support countries to implement data initiatives and set their own targets.
- Sub-group on SME Finance
This sub-group focuses on identifying, scaling up, and improving the policy environment for successful models of SME financing, funding the winners of the SME Finance Challenge and launching an SME Finance Forum, a platform for knowledge sharing and dissemination of best practices. The sub-group will devote special attention to three focal areas: improving SME access to finance in the poorest countries, improving access to finance for agricultural SMEs, and promoting access to finance for women entrepreneurs.