PFIP supported the Reserve Bank of Fiji to conduct a groundbreaking Regulatory Impact Assessment (RIA) to assess the implementation of Fiji’s financial inclusion policies and review of its first National Financial Inclusion Strategy, in pursuit of evidence-based financial inclusion policymaking.
The assessment objectively analyses stated policy objectives against available performance data during the design and implementation of policies. This methodology is a first for the Pacific and provides a framework for assessing whether policies are actionable, measurable, and ultimately effective.
The RIA included:
The results are relevant to second generation policy initiatives in Fiji, as well as the other NFIS initiatives in the region through identification of strategic policy goals and a cost-benefit analysis of available options.