Global trends in digital innovation and financial inclusion implication for the pacific

October 16, 2018

 

Background

The Pacific Financial Inclusion Programme (PFIP) is a Pacific wide programme that has helped over 1.9 million low-income Pacific islanders gain access to financial services and financial education. It achieves these results by funding innovation with financial services and delivery channels, supporting policy and regulatory initiatives, and empowering consumers.

Jointly administered by the UN Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP). PFIP receives funding from the Governments of Australia and New Zealand and the European Union. The primary countries of focus for PFIP are Fiji, Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu.

Launched in 2008, PFIP has funded 39 projects with financial service providers who have innovated with digital technology, products and services, such as agency banking, mobile wallets, micro-insurance, micro loans, remittances and savings groups.

2018 marks 10 years of UNCDF’s work in the region through the PFIP programme. To commemorate this milestone, the Programme is holding an event on 3 – 4 October in Suva, Fiji.

 

Event summary

Spread over two days, the event will bring together around 100 participants from across the Pacific region, Africa and Southeast Asia to share learnings and discuss the latest trends and developments in digital innovation in Financial Inclusion and the implications for the Pacific region. The event will also highlight some of the major milestones achieved over the past 10 years for financial inclusion in the Pacific.

Invited guests include Central Banks, government officials, international donors, private sector representatives, as well as internationally recognized experts on innovation in digital financial services, micro-insurance, micro-pensions and remittances.

The agenda will also provide an opportunity to visit some PFIP projects and to hear firsthand testimonials from recipients of PFIP’s grants how financial innovation is impacting their lives.