G20 Finance Track’s GPFI discusses COVID-19 recovery prerequisites

G20 Finance Track’s GPFI discusses COVID-19 recovery prerequisites

Participants during the virtual meeting. The UAE recently participated in the G20 Finance Track's first Global Partnership for Financial Inclusion (GPFI) meeting, which took place virtually. The meeting discussed the COVID-19 recovery prerequisites to achieve financial inclusion for individuals and micro, small and medium enterprises (MSMEs). That, in addition to programmes for financing digital financial inclusion and MSMEs' projects, ways to provide digital financial solutions to promote resilience and financial literacy, and financial consumer protection during the pandemic's recovery period. Mariam Al Hajri, General Budget Deputy Manager at Ministry of Finance; along with Fatima Al Jabiri, Assistant Executive Director and Head of Consumer Protection Department at the Central Bank of the UAE represented the UAE G20 team participating in the meeting. G20 members and invited countries, non-G20 GPFI invited members, representatives of international organisations and the GPFI's affiliated partners attended the meeting, which was held under the Italian presidency of the G20 this year. During the meeting, the UAE G20 team reaffirmed the country's ongoing efforts to spur the MSMEs sector, which is at the forefront of the UAE's mission to become a global incubator for industry, trade and innovation. The team mentioned that the pandemic had several repercussions on