The Alliance for Financial Inclusion and the European Commission have launched a major partnership to support Sub-Saharan African countries to enhance the regulatory environment for financial inclusion.
AFI is receiving EUR 2 million of funding from the European Commission for the project, which focuses on digital financial services, addressing consumer risk, promoting financial inclusion for youth and women, and Inclusive Green Finance. The partnership was announced on 27 June by AFI Executive Director, Dr Alfred Hannig, and H. E. Francesca Di Mauro, Ambassador of the European Union in Cote d’Ivoire, during the 13th African Financial Inclusion Policy Initiative (AfPI) Leaders’ Roundtable.
“AFI is delighted to be partnering with the European Commission on a project which will make a significant impact on the financial inclusion landscape in Sub-Saharan Africa,” said Dr Hannig. “This project will be implemented based on demand and guidance from AfPI members. It represents a wonderful opportunity for the European Commission and AFI to get to know each other better, and to advance important shared objectives.”
“Supporting financial inclusion through this partnership with AFI is of great importance to the European Union. It demonstrates our commitment to supporting equitable access to quality financial services for all,” said Ambassador Di Mauro. “By specifically targeting digital financial services, green finance and the financial inclusion of young people and women, this project will promote and accelerate inclusive economic growth. Since the launch of the EU Global Gateway strategy, we have made progress in stimulating Africa’s economic growth, promoting private sector development and the creation of decent jobs, as well as mobilising sustainable investment in key sectors. In line with these achievements, I am delighted to see this partnership between AFI and the EU taking shape, with the shared objectives of inclusion and sustainability.”
This new partnership builds on, and complements, the support which the AFI network already receives from various European Union governments, including Germany, France, Luxembourg, and Sweden.
