HYDERABAD: The second meeting of the Global Partnership for Financial Inclusion (GPFI), under the G20 India Presidency, will take place in Hyderabad on March 6 and 7. Ahead of the meeting, the city will also host a Knowledge and Experience Exchange Programme for the emerging economies of the Global South.
On March 6, 2023, a GPFI symposium on ‘digital innovations in payments and remittances’ will be conducted for both G20 and non-G20 countries. The GPFI Working Group of the G20 Finance Track is a comprehensive platform for all G20 countries, interested non-G20 countries, and relevant stakeholders to improve financial inclusion worldwide.
During the GPFI meeting, discussions are expected to progress on important deliverables for the year, including those on Digital Financial Inclusion, SME Finance, and the development of the Financial Inclusion Action Plan 2023. This action plan will guide the financial inclusion work for 2024-26.
The Knowledge and Experience Exchange Programme is expected to see participation from Ministry of Finance and Central Bank representatives from various countries, including Bangladesh, Bhutan, Egypt, Ethiopia, Ghana, Jordan, Malawi, Maldives, Nepal, Oman, Philippines, Poland, Senegal, Sierra Leone, Sri Lanka, Thailand, Vietnam, and regional organisations such as the Asian Development Bank, the African Union Commission, the African Continental Free Trade Area, the Arab Monetary Fund, the Eastern Caribbean Central Bank, the Gates Foundation, the Organisation of Eastern Caribbean States, and Smart Africa.
Experts from India, including the Ministry of Finance, Reserve Bank of India, National Payments Corporation of India, and Unique Identification Authority of India, will share their experiences and knowledge on transforming the financial inclusion landscape by leveraging DPIs.
This exchange programme will also allow non-G20 EMEs to share their priorities, ideas, and aspirations for advancing financial inclusion, which will be beneficial for the G20 as it works towards developing a Financial Inclusion Action Plan (FIAP) for 2024-26.