MICROCAPITAL BRIEF: G20’s Global Partnership for Financial Inclusion Publishes Data on 192 Countries

The Global Partnership for Financial Inclusion (GPFI), which is mandated to carry out the financial inclusion action plan endorsed at the 2010 summit of the Group of 20 (G20) large economies, has released a set of “basic” financial inclusion indicators populated with data from 192 countries. The indicators, which are intended to measure global access and use of financial services for individuals and small and medium-sized enterprises (SMEs), comprise the following: (1) formally banked adults, (2) adults with credit from regulated institutions, (3) formally banked enterprises, (4) enterprises with outstanding loans or lines of credit from regulated institutions, and (5) financial institution branches and other points of service. Indicators are represented in either percentages or numbers depending on the data source. The data are sourced from the World Bank, a multilateral institution based in the US, and the International Monetary Fund (IMF), a US-based organization with 188 country members.

GPFI has developed this tool in partnership with the following organizations: the Alliance for Financial Inclusion, a Thailand-based network of financial policy makers; CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research center dedicated to providing financial access to poor people worldwide; the International Finance Corporation, the private investment arm of the US-based World Bank Group; and the World Bank. GPFI intends to add more indicators to the data set over time.

By Lena Phillips, Research Associate

About the Global Partnership for Financial Inclusion (GPFI)

Global Partnership for Financial Inclusion (GPFI) is a group intended to carry forward work on financial inclusion, including implementation of the Financial Inclusion Action Plan endorsed at the G20 Summit in South Korea in 2010. GPFI implementing partners include Thailand-based NGO Alliance for Financial Inclusion (AFI), US-based NGO CGAP (Consultative Group to Assist the Poor) and the World Bank. The G20 is a group of 19 countries with large economies and the EU.

About G20

Established in 1999, the Group of Twenty (G20) brings together finance ministers and central bank governors of “systematically important” industrialized and developing economies to discuss the global economy. The G20 is made up of representatives from 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, the UK and the US. The European Union is the twentieth member of the G20.

About the International Finance Corporation (IFC)

A member of the US-based World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2012, IFC reported total assets of USD 75.7 billion.

About the World Bank Group

The World Bank Group consists of five institutions, all of which are owned by its member countries. The Group’s mission is to improve living standards for people in the developing world. The World Bank Group encompasses the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); the International Centre for Settlement of Investment Disputes (ICSID) and the World Bank, which consists of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

About the Alliance for Financial Inclusion (AFI)

The Alliance for Financial Inclusion (AFI) is a Thailand-based network of financial policymakers from developing and emerging economies that aims to increase access to financial services for poor people. AFI uses a “peer-to-peer” model that enables member institutions to share knowledge and identify policy solutions for their home countries. AFI also provides grants to members to help support policy implementation. As of 2013, AFI reports having member institutions representing approximately 85 countries.

About CGAP (Consultative Group to Assist the Poor)

CGAP (Consultative Group to Assist the Poor) is a US-based nonprofit policy and research center dedicated to providing financial access to poor people worldwide. CGAP is supported by approximately 40 development agencies and private foundations. Its mission is to provide market intelligence, to promote standards and to offer advisory services to governments, microfinance providers, donors and investors. CGAP reported total assets of USD 25 million for the fiscal year ending June 2012. CGAP is co-located with the offices of the World Bank Group in Washington DC.

Sources and Additional Resources:

Global Partnership for Financial Inclusion Feature: “Launch of the G20 Basic Set of Financial Inclusion Indicators,” http://www.gpfi.org/featured/launch-g20-basic-set-financial-inclusion-indicators

“The G20 Basic Set of Financial Inclusion Indicators,” Global Partnership for Financial Inclusion, http://databank.worldbank.org/databank/download/g20fidata/GPFIsummarynote.pdf

G20 Basic Set of Financial Inclusion Indicators, http://datatopics.worldbank.org/g20fidata/
MicroCapital.org Article, 7 May 2013: “MICROCAPITAL BRIEF: Reserve Bank of India Aims to Increase Financial Inclusion in Unbanked Areas, Number of Indian Villages with Financial Access Tripled to 211k,” https://www.microcapital.org/microcapital-brief-reserve-bank-of-india-aims-to-increase-financial-inclusion-in-unbanked-areas-number-of-indian-villages-with-financial-access-tripled-to-211k/

MicroCapital.org Article, 5 May 2013: “MICROFINANCE PAPER-WRAP: ‘Policy Brief: Advancing Women’s Financial Inclusion;’ published by Making Finance Work for Africa, GIZ New Faces New Voices, East African Community, BMZ,” https://www.microcapital.org/microfinance-paper-wrap-up-policy-brief-advancing-african-womens-financial-inclusion-published-by-making-finance-work-for-africa-giz-new-faces-new-voices-east-african/

MicroCapital.org Article, 29 April 2013: “MICROCAPITAL BRIEF: International Finance Corporation (IFC), G20’s Global Partnership for Financial Inclusion (GPFI) Partner to Launch Online Women’s Finance Hub,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-g20s-global-partnership-for-financial-inclusion-gpfi-partner-to-launch-online-womens-finance-hub/

MicroCapital.org Article, 18 April 2013: “MICROCAPITAL BRIEF: Alliance for Financial Inclusion Launches African Mobile Phone Financial Services Policy Initiative (AMPI),” https://www.microcapital.org/microcapital-brief-alliance-for-financial-inclusion-launches-african-mobile-phone-financial-services-policy-initiative-ampi/

MicroCapital.org Article, 18 March 2013: “MICROCAPITAL BRIEF: Boston University, CGAP Partner on Financial Inclusion Regulation Website, Request for Submissions of material from Microfinance Stakeholders,” https://www.microcapital.org/microcapital-brief-boston-university-cgap-partner-on-financial-inclusion-regulation-website-request-submissions-of-material-from-microfinance-stakeholders/

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