UNCDF, IFC, the World Bank and CGAP organized the first Consultation Meeting on Financial Inclusion. The purpose of the meeting was threefold: IFC/CGAP presented its recent microfinance sector assessment report. The World Bank introduced its upcoming Financial Inclusion for National Development (FIND) programme; and UNCDF, in partnership with UNDP Myanmar and the Livelihood and Food Security Trust Fund (LIFT), launched the consultation for the “Making Access to Finance Possible” (MAP) diagnostic and programming framework.
The meeting brought together a broad range of stakeholders presenting three complementary initiatives on Financial Inclusion in Myanmar. The IFC/CGAP microfinance sector assessment was recently completed. It constitutes a rapid assessment of the sector, and aims at providing a basis to discuss key priorities for action in the sector, including future technical assistance.
The World Bank Financial Inclusion for National Development (FIND) programme, part of the World Bank’s support to the financial sector in Myanmar, focuses on building the supervisory and regulatory framework for microfinance in Myanmar.
UNCDF launched MAP – Making Access to finance Possible, a diagnostic tool developed by UNCDF, FinMark Trust and Cenfri. MAP takes a broad view of financial inclusion through the ranges of products and services, institutions, delivery channels and actors; it incorporates deep quantitative and qualitative diagnosis and analysis, setting the stage for well-informed dialogue among stakeholders.
Taking the G20 Principles and other international initiatives into action, MAP catalyzes domestic efforts to make financial inclusion a reality, enabling a wide range of stakeholders to organize dialogue around a set of comprehensive and in-depth country diagnostics, leading to the development of a nationally owned financial inclusion roadmap and programming framework. The country work will be leveraged to inform and contribute to global experience and dialogue. This will serve to benefit large numbers of low-income households and enterprises through significantly expanded access to financial services.