India and Italy will be the new co-chairs of the Global Partnership for Financial Inclusion (GPFI) for three years from 2024.
His selection was announced at the second meeting of GPFI, which concluded on Tuesday with the support of the entire membership. An official release said the two-day meeting, organized as part of India’s G20 chairmanship, saw the participation of officials from the Union Finance Ministry and representatives from G20 and non-G20 countries and international organisations, including GPFI implementation and associated partners. Are included.
GPFI members during the plenary session discussed and agreed on the way forward on key deliverables for the year including digital financial inclusion as well as SME finance.
A workshop for the development of the GPFI Financial Inclusion Action Plan (FIAP) 2023, which will guide financial inclusion action under the G20 for 2024-26, as well as a symposium on digital innovations in payments and remittances, were part of the programme.
The symposium served as a platform for exchange of experiences and understanding on the development of a robust payment system to further financial inclusion, resilience, productivity gains and inclusive growth. The GPFI meeting was preceded by a knowledge and experience exchange program for emerging economies of the Global South from 4 to 6 March.
The release said that under its G20 chairmanship, India is committed to advancing financial inclusion globally and bringing forward the voices of emerging economies.