Implementation Guide for the G20 High-Level Principles for Digital Financial Inclusion

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 Implementation Guide for the G20 High-Level Principles for Digital Financial Inclusion


A guide and self-assessment tool for policymakers in various stages of digital development.

Digital financial inclusion is a priority for the G20 given its role in improving people’s resilience to financial risks, reducing inequality, and spurring economic growth.

This new guide is a key deliverable of the G20 Financial Inclusion Framework on Harnessing Digitalization to Increase Productivity and Foster a Sustainable and Inclusive Economy for Women, Youth and MSMEs, or also called Yogyakarta Financial Inclusion Framework. This was endorsed by G20 leaders and guided by the G20 2020 Financial Inclusion Action Plan. In line with the Indonesian G20 Presidency’s goals to deliver actionable outputs focused on productivity, inclusive growth, and financial-sector resilience and reforms, this implementation guide builds on the GPFI’s work in the last six years and has dual objectives of guidance and assessment.

“I warmly welcome the work of the GPFI this year in developing the implementation guide, which will help the stakeholders move from principles to action in how we can help women, youth, and MSMEs thrive — by embracing digital uptake, investing in skills, and improving the finance ecosystem.”
Her Majesty Queen Máxima of the Netherlands, UN Secretary-General’s Special Advocate for Inclusive Finance for Development and Honorary Patron of the G20 GPFI

In 2016, G20 Finance Ministers released the G20 High-Level Principles for Digital Financial Inclusion to provide a basis for country action plans and to leverage digital technologies to drive inclusion. This implementation guide takes forward that work by emphasizing practical “how-to” approaches and replicable examples of good practices with a dedicated chapter for each of the six principles. It also highlights potential risks, particularly the most urgent ones faced by lower-income or formerly excluded customers, who were onboarded rapidly and in significant numbers because of the pandemic.

“As part of our main priorities for Indonesia G20 Presidency, we have strived to promote ways to harness digitalization to increase productivity and create an inclusive economy for women, youths and MSMEs.”
Perry Warjiyo, Governor, Bank Indonesia

The guide was prepared for the G20 Indonesia Presidency by a team led by the World Bank and comprising the Better Than Cash Alliance, Consultative Group to Assist the Poor (CGAP), and Organisation for Economic Co-operation and Development (OECD).

“Indonesia G20 Presidency set upon developing a Financial Inclusion Framework in Harnessing Digitalization to Increase Productivity, Sustainable and Inclusive Economy of Women, Youth, and MSMEs. Building upon the deliverables of the GPFI, the framework will be a tool that supports us in advancing global financial inclusion through digitalization.”
Sri Mulyani Indrawati, Minister of Finance, Indonesia