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Financial inclusion and climate change policy peer learning initiative (FICC)

As of: May 2021

The members of the Alliance for Financial Inclusion (AFI) view financial inclusion as a key factor for the achievement of SDGs. The AFI provides central banks, financial supervisory authorities, finance ministries and other relevant actors in over 80 developing markets and emerging economies with a global platform for financial inclusion. Together, these parties are working to develop innovative and effective political strategies for combating climate change and adapting to its impacts. The project is also offering peer learning, resource- and expertise-building, public-private dialogue, institutional analysis and other services for AFI members, with the aim of ensuring that they are then in a position to implement relevant national policy goals. More than 200 decision makers will benefit from these professional training programmes. Insights will be shared in the AFI network and therefore also with financial regulatory bodies.

State of implementation/results

  • The Third AFI Global IGF Conference was co-hosted by Banco de Mocambique (BdM) to raise awareness among stakeholders, build internal capacity and encourage financial literacy among members. BdM’s Governor Rogerio Zandamela highlighted the implementation of a prudential policy, review of financial regulation and adoption of IGF financial education as critical policy solutions. AFI’s Executive Director Dr Alfred Hannig called the network to use the opportunity of the global pandemic to drive the financial inclusion agenda and lead the world to a better normal. A reflection paper developed in collaboration with the SOAS University of London, Inclusive Green Finance: From Concept to Practice, was launched at the event (www.afi-global.org/…). The project´s animation, video, prepared exclusively for the event, showcasing the progress made by nine AFI member institutions in their IGF Maya Declaration Commitments: Bangladesh Bank, Reserve Bank of Fiji, Superindendencia Economia Popular y Solidaria (SEPS), Bank Al-Maghrib, Central Bank of Egypt, Bank of Ghana, Bank of Zambia, Reserve Bank of Zimbabwe and BbM. (www.youtube.com/…).
  • A Joint Learning Program was organized in conjunction with the launch of the network’s Europe Representative Office in Luxembourg. Over 100 participants attended the third day of the JLP dedicated to IGF and featured: Luxembourg’s Minister for Environment, Climate and Sustainable Development, Carole Dieschbourg and Tom Theobald from Luxembourg’s Ministry of Finance, Dr Susan Krohn from Germany’s Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, Prof. Dr Dirk Andreas Zetzsche from Centre for Sustainable Governance and Markets at the University of Luxembourg, Dr Margarita Hernandez from Superintendencia de la Economia Popular y Solidaria de Ecuador, Abderrahim Bouazza from Bank al-Maghrib, and Bertrand de Mazieres from European Investment Bank. Climate financing, cybersecurity and the role of inclusive FinTech in advancing IGF were some of the topics discussed (www.afi-global.org/…).
  • A set of three videos featuring IGF implementation in Fiji was developed as part of a JLP co-hosted with Reserve Bank of Fiji, featuring the Ovalau Agrophotovoltaic Project which creates employment and sustainable investment through the Central Bank’s enabling IGF policies implemented by the Fiji Development Bank. (www.youtube.com/…).
  • AFI published an interview with both, the outgoing and incoming chairs, of the IGFWG about the past, present and future of the working group. (www.afi-global.org/…).
  • IGF Head Johanna Nyman published a blog for an Impakter, an online magazine on sustainability, technology and business. She highlighted how international commitments, such as AFI’s Sharm El Sheikh Accord, the Sustainable Development Agenda and the Paris Agreement drive policy development on climate action for vulnerable communities. (impakter.com/…).

Further Links

Project data

Country:
worldwide

Implementing organisation:
Alliance for Financial Inclusion (AFI)

Political partner(s):
  • Diverse climate change relevant institutions in the respective partner countries/Diverse klimarelevante Institutionen in den entsprechenden Partnerländern
  • United Nations Environment Programme (UN Environment)

BMU grant:
2.996.636,00 €

Duration:
06/2018  till  12/2021


Website(s):

Video



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