The Alliance for Financial Inclusion (AFI) is launching an initiative to support members in conducting research on inclusive green finance for MSMEs, with the view to provide further insights and policy guidance to the broader network. The project is supported by the International Development Research Centre (IDRC).
The members of the AFI network have been pioneering the concept of Inclusive Green Finance (IGF). IGF aims to enable climate change mitigation and build resilience among the most vulnerable groups. Women are disproportionately impacted by climate change, and in IGF policy development, there needs to be a specific focus on empowering women in these efforts. Ensuring access and the use of financial services to low-income populations and vulnerable groups allows them to adapt and build resilience to the changing climate and transition to low-carbon activities. Low-income populations can access greener technologies or prepare and rebuild after climate change-induced natural disasters through savings, credit, insurance, and adequate payment systems. However, a knowledge gap remains on how financial regulation and policy initiatives by financial regulators and central banks can promote, reduce barriers, and accelerate finance access for vulnerable groups and MSMEs. As a result, there is scope for AFI members and the research community to develop practical policy knowledge in this critical area of our shared policy priority.
The project will generate policy knowledge and insights on how financial regulation and policy initiatives can drive green finance to advance mitigation and adaptation amongst MSMEs in a gender-sensitive manner with an understanding of the prevailing gender differences, issues, and inequalities faced by women who own and run MSMEs. A Research Advisory Council (RAC) will be created for the project to bring additional expertise and strategic insights into the diagnosis and planning. This RAC will comprise representatives from relevant academic institutions, AFI partners, and research partners. The RAC will work with the Inclusive Green Finance Working Group, SME Finance Working Group and Gender Inclusive Finance Ambassador institutions, contributing to and commenting on the research and reviewing the research at certain stages of the project’s progress. The contributions from the RAC will bring their unique perspectives to the conversation and enhance the outcomes.
The RAC will be composed of three members. The members of the RAC will be individual academics or development professionals with experience in any of the relevant policy areas intersecting in this project. The Terms of Reference for the RAC can be accessed to learn more about the project, the role of the RAC and specifics about the relevant policy areas.
To express interest in joining the RAC, applicants must submit their CV and a short letter highlighting their expertise on MSMEs, green finance or climate finance, and gender to Johanna Nyman, Head Inclusive Green Finance at the AFI Management Unit (firstname.lastname@example.org). The deadline for submitting an email of interest is May 15th, 2023.
For interest or inquiries, please do not hesitate to be in touch.