The Canadian government’s International Development and Research Centre (IDRC) and Malaysia-based Alliance for Financial Inclusion (AFI), recently signed a three-year partnership with the goal of “develop[ing] new knowledge and foster[ing] peer learning on financial inclusion” among AFI’s 123 members which include financial regulators and institutions in approximately 90 developing countries. IDRC will act as AFI’s “knowledge and funding partner” as the organizations implement “peer learning platforms” to consider government policies relating to financial inclusion issues such as gender, digital financial services and financial literacy. The amount of funding IDRC will supply to AFI has not been released.
As of 2015, AFI reports total revenues of USD 5.5 million and total expenses of USD 6.3 million. As of March 2016, IDRC reports total revenues of CAD 268 million (USD 197 million) and total expenses of CAD 272 million (USD 201 million).
By Michelle Dold, Research Associate
About Alliance For Financial Inclusion (AFI)
Founded in 2008, the Alliance for Financial Inclusion (AFI) is a Malaysia-based network of banks and financial regulatory institutions from developing and emerging economies that aims to increase access to financial services for poor people by improving government policies through knowledge sharing and providing grants to its members. As of 2015, AFI’s 123 member institutions represent approximately 90 countries. As of 2015, AFI reports total revenues of USD 5.5 million and total expenses of USD 6.3 million.
About International Development Research Centre (IDRC)
Founded in 1970 and headquartered in Ottawa, Canada, the International Development Research Centre (IDRC) is a “crown corporation” of the Canadian government that funds and conducts research relating to health, employment, food security and other social and economic issues in developing countries. It has additional offices in Cairo, Egypt; Nairobi, Kenya; New Delhi, India; and Montevideo, Uruguay. As of March 2016, IDRC reports total revenues of CAD 268 million (USD 197 million) and total expenses of CAD 272 million (USD 201 million).
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