Developing Countries: Financial Services

International Development written question – answered on 25th February 2013.

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Photo of Guto Bebb Guto Bebb Conservative, Aberconwy

To ask the Secretary of State for International Development how many projects her Department is funding that involve (a) inclusive financial services and (b) reform of regulatory environments for inclusive financial services.

Photo of Alan Duncan Alan Duncan The Minister of State, Department for International Development

The Department for International Development (DFID) is currently implementing 16 financial sector development programmes that are working to improve policy, develop market infrastructure, build sustainable institutions and develop products and services to increase the access of poor people and small firms to affordable, quality financial services. DFID also supports a number of other initiatives implemented by partners that contribute directly or indirectly to providing inclusive financial services.

Improving the regulatory environment is integral to increasing financial inclusion. DFID is working through the G20 Global Partnership for Financial Inclusion to ensure the global regulatory environment remains effective and proportionate, while enabling responsible access to financial services for poor people. DFID also jointly funds the Financial Sector Reform and Strengthening Initiative that provides technical assistance across a range of regulatory areas, including inclusive finance.

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