Inclusive Policy
Inclusive policy
Governments play a central role in breaking down barriers to financial inclusion by implementing laws and policies that reduce inequalities and boost economic growth. However, less than 35% of countries have a national financial inclusion strategy.
Governments stand to benefit from promoting women’s financial inclusion via policy and regulatory reforms. A strategic focus on women has the potential to expand markets, spark economic progress, and improve health and education outcomes.
As of 2024 Q1, Women’s World Banking has engaged 83 financial policy and regulatory institutions across 47 countries, creating enabling environments for women.
When women thrive, so do our societies
Our global policy imperatives
Access & Usage
Ensure women's access to accounts through identification, mobile and internet, and digital and financial capability to actively engage with their bank accounts or digital wallets under the woman's control.
Mandate gender disaggregated data reporting, make it public, and use it to improve policy and promote products that meet the needs of women.
Resilience
Ensure women's access to financial safety nets — social protection, savings, insurance — to help mitigate, cope with, and recover from shocks without compromising future welfare.
Enforce consumer protection that meets women's needs, including data privacy and security.
Growth
Ensure women entrepreneurs have better access to funds to start and grow their business, through improved credit infrastructure and fintech, including alternative credit scoring methods, moveable collateral registries and priority sector lending.
Economic Empowerment
Reform discriminatory laws and societal norms so women can access tools for their full economic and financial participation.
Promote investment in women leaders to drive inclusive policy making.
Examples of our work
This report, developed by the Global Partnership for Financial Inclusion (GPFI) under the G20 India Presidency, focuses on leveraging Digital Public Infrastructure (DPI) to advance financial inclusion and productivity gains.
Women’s World Banking has made significant contributions through the Jan Dhan Plus program, launched in collaboration with Bank of Baroda. This document emphasizes that inclusive DPI, backed by public-private collaboration, can significantly contribute to achieving the UN Sustainable Development Goals and improving global resilience.
The Alliance for Financial Inclusion’s SME Finance Working Group (SMEFWG) developed a Regulatory Toolkit in collaboration with Indonesia’s G20 2022 Presidency and the Global Partnership for Financial Inclusion (GPFI). This Toolkit provides financial regulators from G20 and non-G20 countries with a wide range of regulatory tools suitable for various levels of development.
The Toolkit aims to enhance the regulatory environment for MSMEs to access digital financial services, emphasizing collaboration between regulators and other public and private sector stakeholders. It offers a detailed menu of policy options for country-level consideration, guiding further research and policy formulation.
2023 Financial Inclusion Action Plan
The Financial Inclusion Action Plan (FIAP) 2023, established by the Global Partnership for Financial Inclusion (GPFI), emphasizes the importance of integrating women’s economic empowerment, financial consumer protection, and financial literacy. This integration has been pivotal in advancing financial inclusion globally, with a particular focus on vulnerable and underserved groups, including women.
Report: Reaching Financial Equality for Women (2023 Edition)*
The COVID-19 pandemic has caused the largest reverse in poverty since the Second World War. The UN estimates that at least 388 million women and girls were living in extreme poverty in 2022.
The revised Reaching Financial Equality for Women report lists the 10-point action plan to end the continued economic exclusion of women and to build more resilient economies.
This action plan builds on the G20 Global Partnership for Financial Inclusion (GPFI) 2020 policy recommendations and was first launched in the build-up to the 2021 Generation Equality Forum. The GPFI’s role in promoting women’s financial inclusion through digital financial services and regulatory frameworks has been pivotal. The collaboration and initiatives led by G20 and GPFI members underscore the global commitment to achieving financial equality for women and fostering inclusive economic growth.
Examples of our work
This report, developed by the Global Partnership for Financial Inclusion (GPFI) under the G20 India Presidency, focuses on leveraging Digital Public Infrastructure (DPI) to advance financial inclusion and productivity gains.
Women’s World Banking has made significant contributions through the Jan Dhan Plus program, launched in collaboration with Bank of Baroda. This document emphasizes that inclusive DPI, backed by public-private collaboration, can significantly contribute to achieving the UN Sustainable Development Goals and improving global resilience.
The Alliance for Financial Inclusion’s SME Finance Working Group (SMEFWG) developed a Regulatory Toolkit in collaboration with Indonesia’s G20 2022 Presidency and the Global Partnership for Financial Inclusion (GPFI). This Toolkit provides financial regulators from G20 and non-G20 countries with a wide range of regulatory tools suitable for various levels of development.
The Toolkit aims to enhance the regulatory environment for MSMEs to access digital financial services, emphasizing collaboration between regulators and other public and private sector stakeholders. It offers a detailed menu of policy options for country-level consideration, guiding further research and policy formulation.
2023 Financial Inclusion Action Plan
The Financial Inclusion Action Plan (FIAP) 2023, established by the Global Partnership for Financial Inclusion (GPFI), emphasizes the importance of integrating women’s economic empowerment, financial consumer protection, and financial literacy. This integration has been pivotal in advancing financial inclusion globally, with a particular focus on vulnerable and underserved groups, including women.
Report: Reaching Financial Equality for Women (2023 Edition)*
The COVID-19 pandemic has caused the largest reverse in poverty since the Second World War. The UN estimates that at least 388 million women and girls were living in extreme poverty in 2022.
The revised Reaching Financial Equality for Women report lists the 10-point action plan to end the continued economic exclusion of women and to build more resilient economies.
This action plan builds on the G20 Global Partnership for Financial Inclusion (GPFI) 2020 policy recommendations and was first launched in the build-up to the 2021 Generation Equality Forum. The GPFI’s role in promoting women’s financial inclusion through digital financial services and regulatory frameworks has been pivotal. The collaboration and initiatives led by G20 and GPFI members underscore the global commitment to achieving financial equality for women and fostering inclusive economic growth.
