Financial Inclusion 2020 Demonstrates Unprecedented Global Collaboration ofLeading Companies, NGOs, Policymakers and Regulators
Accion’s Center for Financial Inclusion FI2020 Project is Developing and Advancing Roadmap forFull Financial Inclusion of the World’s Poor
Washington, D.C., May 28, 2013 – The Center for Financial Inclusion at Accion® today announced that it has received a $400,000 grant for its Financial Inclusion 2020 project from the Bill & Melinda Gates Foundation. The FI2020 project is building a global movement to expand the reach and benefits of a range of quality financial services, using the year 2020 to spark action.
Along with major corporate partners Citi, Visa, MasterCard, and Western Union, FI2020 is developing a common action plan to achieve financial inclusion for the more than 2.5 billion people worldwide who lack access to basic financial services.
The many funders involved are providing critical support for FI2020 to bring together the private sector, governments, NGOs, and other relevant parties to develop and advance a comprehensive strategy to develop a ‘Roadmap to Financial Inclusion,’ to be presented at the Financial Inclusion 2020 Global Forum, October 28-30, 2013 in London.
“Demographic changes, rising incomes and technological advances are creating an enormous new market and further underscoring that financial inclusion is within our reach,” said Elisabeth Rhyne, Managing Director of the Center for Financial Inclusion. “The goal of financial inclusion is to provide access to a range of quality financial services at affordable prices, delivered with convenience and dignity, while ensuring the right tools and protections are in place. Partnering with the broader community interested in financial inclusion is a critical step to achieving this ambitious goal.”
About the Center for Financial Inclusion at Accion
The Center for Financial Inclusion at Accion (CFI) helps bring about the conditions for achieving full financial inclusion around the world. Constructing a financial inclusion sector that reaches everyone with quality services will require the combined efforts of many actors. CFI contributes to full inclusion by collaborating with sector participants to tackle challenges beyond the scope of any one actor, using a toolkit that moves from thought leadership to action. For more information, visit www.centerforfinancialinclusion.org.
FI2020 aims to build a movement that mobilizes stakeholders around the globe to achieve full inclusion using the year 2020 as a focal point to galvanize action. The campaign engages diverse players who can expand financial inclusion through two initiatives: the research project, ‘Mapping the Invisible Market’ and a ‘Roadmap to Financial Inclusion,’ which will be carried out through a consultative process leading to a global forum in October 2013, with the ultimate goal to advance the agenda through coordinated, effective, collaborative action by both public and private partners. For more information, visit www.centerforfinancialinclusion.org/fi2020.
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