Time of event

12:00–15:30 Tokyo time

Summary

Co-hosted by ADBI, the Asian Development Bank, the APEC Business Advisory Council, and the Foundation for Development Cooperation, the 11th Asia-Pacific Financial Inclusion Forum brought together senior policy makers and industry representatives to develop concrete recommendations and action plans for advancing a financially inclusive and resilient COVID-19 recovery.

The focus was on addressing economic challenges due to COVID-19 facing the region’s disadvantaged and vulnerable people, and opportunities for expanding innovative and inclusive digital finance solutions. Policy recommendations formulated during the forum will be presented to APEC Finance Ministers for consideration, in alignment with APEC’s COVID-19 recovery policy responses.

Objectives
  • Exchange public and private sector views on the latest financial inclusion trends, recent achievements, challenges, and opportunities pertaining to APEC and ADB member economies
  • Spotlight COVID-19 era financial inclusion policy strategies, experiences, and lessons learned
  • Provide a platform for brainstorming policy recommendations that could build digitally driven financial inclusion in Asia and the Pacific after the pandemic
Participants
Output
  • Enhanced understanding of the roles of digitalization and innovative finance toward financial inclusion and inclusive COVID-19 recovery in Asia and the Pacific
  • Greater dialogue and partnership between policy makers and industry representatives on key inclusive finance and financial market infrastructure issues
  • Policy recommendations to support APEC Finance Ministers and Central Bank Governors’ efforts to strengthen financial inclusion in the region
Partners
  • Asian Development Bank
  • Foundation for Development Cooperation
  • APEC Business Advisory Council
Conference Presentations

25 May 2021

Session 1.1: Building Inclusive Digital Economies for Financial Inclusion
Lisette Cipriano, Senior Digital Technology Specialist (Financial Technology Services), Asian Development Bank

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Session 1.2: Financial Market Infrastructure Priorities to Accelerate Responsible Digitization of Payments Leading to Inclusive Recovery, Resilience and Financial Inclusion
Keyzom Ngodup Massally, Head of Asia-Pacific, UN Better Than Cash Alliance

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Session 1.3: Facilitating Innovative Approaches to Financial Inclusion
Douglas Arner, Director, Asian Institute of International Financial Law, University of Hong Kong

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Session 2.1: Understanding Financial Inclusion: What Matters and How it Matters
Cyn-Young Park, Director, Regional Cooperation and Integration Division, Asian Development Bank

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Session 2.2: The Evolving Fintech Landscape and the Role of Stakeholder Cooperation to Progress Digital Financial Inclusion at the Base of the Economy
Pieter Franken, Director, The ASEAN Financial Innovation Network (AFIN)

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Session 2.3: The Emergence of Innovative Financing Mechanisms to Bridge the Digital Infrastructure Investment Gap
Ulrich Volz, Director of the Centre for Sustainable Finance, SOAS, University of London & Senior Research Fellow, German Development Institute

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