During the G20 summit in Rome, Magda Bianco, the G20 Global Partnership for Financial Inclusion (GPFI) co-chair, met the H.M. Queen Máxima of the Netherlands in her capacity as the UN Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA) and Honorary Patron of the G20 GPFI.
The Honorary Patron congratulated the Italian G20 GPFI team for the results achieved during the year of the Italian Presidency. This included the "Menu of Policy Options for Digital Financial Literacy and Financial Consumer and MSME Protection". This report can help set a course to a new, more digital, and inclusive financial normal, which addresses the digital risks to consumers and small businesses.
With a view to the future, the Queen Máxima encouraged the GPFI to continue analysis on how to best support the development of micro-, small and medium-sized enterprises (MSMEs). Also discussed was the important role of data on MSMEs to better understand what is needed to support their financial access and to analyse the effect on productivity.
At the end of the meeting the Honorary Patron shared with the GPFI co-chair the UNSGSA policy note on "Financial Health: An Introduction for Financial Sector Policymakers". A more explicit recognition of financial health as a goal, accompanied by measurement of gaps in the financial health of the population-especially the newly included-can help policymakers set a financial inclusion agenda that is clearly focused on positive outcomes for individuals, households, and small businesses.