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Transcript of UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance Building...
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
Building Inclusive Financial Sectors:A Multistakeholder Dialogue
Amman, October 12, 2004
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
The Context
A Double International Commitment
The Monterrey Consensus on Financing for Development (2002) is the basis of a commitment to building appropriate financial services for households, micro-, small and medium enterprises.
The International Year of Microcredit 2005 is committed to promoting the building of inclusive financial sectors that help people improve their lives and launching a challenge to national governments.
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
Vision
Scale up efforts and build industry capacity to meet unmet demand for microfinance
Unmet worldwide demand for financial services is staggering
Current supply of financial services reach only a small fraction of the six billion people in the world, mostly wealthy/corporate clients
Dramatically increase access to financial services
Establish prudential means to use microfinance most effectively to alleviate poverty
Current Situation
To reach our vision we need to:100*GDP
10*GDP
Av. Loan O/S
The portion of poor clients served is small but rapidly growing 25 to 30 percent annually over the past five years
Gap
High income clients served
Not served
Low income clients served 0.5*GDP
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
Blue Book on Building Inclusive Financial Sectors
Objectives and Outcomes
ObjectivesDevelop a common understanding of the constraints to building
inclusive financial sectors in different country settings and opportunities for action
Develop a compelling analysis, a “Blue Book on Building Inclusive Financial Sectors that will provide information, analysis and guidance
Adopt the “Blue Book” as a tool to stimulate concrete action at the country level.
Outcome
The preparation of a “Blue Book on Building Inclusive Financial Sectors” to be submitted to the General Assembly in fall 2005.
Follow-up by national governments.
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
The ProcessBringing together over the coming months a wide range of stakeholders though “multistakeholder dialogues,” direct interaction with stakeholder groups and contributions via the web site.
Participants will address this basic question:
“Why are so many bankable clients unbanked?”
Consultations will culminate in a Global Meeting in May 2005.
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
Proposed Organization of Session
Program
Introductory Statements
Round Table Discussions in small groups
Presentation of results
Discussion in Plenary and Conclusions
Identification of Ways to Pursue Dialogue in Middle East and North Africa Region
UNITED NATIONS CAPITAL DEVELOPMENT FUNDUNITED NATIONS CAPITAL DEVELOPMENT FUND Microfinance
Round Table Discussions
On the basis of the set of questions provided as guidance, identify the five key constraints to greater access
Bring in examples based on your own experience
Identify the major challenges to the development of inclusive financial sectors over the next 5 – 10 years
Prepare one sentence vision statements on building inclusive financial sectors
Provide suggestion for further dialogue in the region.
Why are so Many Bankable Clients Unbanked?