MICROCAPITAL BRIEF: United Nations Capital Development Fund (UNCDF), Alliance for Financial Inclusion (AFI) Partner to Advance Financial Inclusion in Association of Southeast Asian Nations (ASEAN) Region through Policy, Digital, Gender Modes

The Alliance for Financial Inclusion (AFI), a network of 124 financial policymaking institutions from developing and emerging economies, and the United Nations Capital Development Fund (UNCDF), a UN agency that works to increase access to microfinance and other forms of capital in developing countries, recently launched a strategic partnership to reinforce collaboration and knowledge exchange on financial inclusion issues within the 10 member countries of the Association of Southeast Asian Nations (ASEAN).

Elements of the partnership include: informing regional policy design and implementation based on lessons regarding financial inclusion and gender issues learned within AFI’s programs; supporting peer learning for ASEAN members on “financial inclusion strategies, financial inclusion data, payments and remittances and digital financial services”; and collecting data to further understanding of the needs of ASEAN member countries as they relate to financial inclusion strategies.

As of 2014, UNCDF reported total resources of USD 88.3 million for the year.

By Caroline Zhu, Research Associate

About Alliance for Financial Inclusion (AFI)

The Alliance for Financial Inclusion (AFI), founded in 2008, is a network of policy making and regulatory institutions 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 April 2014, AFI’s 124 member institutions represent 95 countries. AFI’s headquarters are located in Kuala Lumpur, Malaysia.

About United Nations Capital Development Fund (UNCDF)

The UN Capital Development Fund (UNCDF) endeavors to create opportunities for poor people in developing countries and their small businesses by increasing access to microfinance and other forms of investment capital. UNCDF focuses on Africa and the poorest countries of Asia, with particular commitment to countries emerging from crisis. As of 2014, UNCDF reported total annual resources of USD 88.3 million. As of 2015, UNCDF has operations in 31 out of the world’s 48 least developed countries.

MicroCapital Universe Profile: Alliance for Financial Inclusion (AFI)

MicroCapital Universe Profile: United Nations Capital Development Fund (UNCDF)

Sources and Additional Resources:
[1] Alliance for Financial Inclusion (AFI) Press Release, “UNCDF and AFI enter into partnership agreement to advance financial inclusion in ASEAN”, http://www.afi-global.org/news-events/press-releases/uncdf-and-afi-enter-partnership-agreement-advance-financial-inclusion

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