The 2nd meeting of the Global Partnership for Financial Inclusion (GPFI) under the G20 India Presidency began in Hyderabad on March 6. The meeting deliberated on the role of stakeholders in harnessing innovations in digital payment systems and designing payment DPIs for inclusive growth. There was also discussion on leveraging digital public infrastructure for financial inclusion and productivity gains.
During the panel discussion, Dr. Ruth Goodwin Groen, MD, Better Than Cash Alliance, made a presentation on the development of innovative payment systems. This was followed by a panel discussion on ‘Symposium on Digital Payments and Remittances’. Key deliverables for the year, including digital financial inclusion, SME finance and development of the Financial Inclusion Action Plan 2023, were discussed during the two-day GPFI meeting. This action plan will guide the financial inclusion action for 2024. Representatives from various countries including Bangladesh, Bhutan, Egypt, Ethiopia, Ghana, Jordan, Malawi, Maldives, Nepal, Oman, Philippines, Poland, Senegal, Sierra Leone, Sri Lanka, Thailand and Vietnam participated in the meeting. The GPFI Working Group of the G20 Finance Track is designed to be a comprehensive platform for all G20 countries, non-G20 countries and relevant stakeholders to improve financial inclusion around the world.
The meeting was preceded by the inaugural session of the event titled ‘India and the Global South: A Vision for a Shared Future’ in Hyderabad. The first GPFI meeting was held in Kolkata from January 9-11where the members discussed and agreed on the work program and priorities for the year.
