Effective Financial Inclusion Important

Source: PC Online

BY MELISHA YAFOI

Effective financial inclusion is core to comprehensive developments says Secretary General of the Pacific Islands Forum Secretariat Dame Meg Taylor.

Dame Meg made this remark at the opening of the Financial Inclusion Innovation Summit yesterday in Port Moresby.

She said the key tenets of financial inclusion overlap significantly with the current regional agenda on financing for development which includes climate and disaster finance combined with financial literacy and financial empowerment which is crucial to mobilise funding for development and adaptation initiatives across the region.

She said the Pacific Sustainable Development Goal’s (SDGs) roadmap that will be considered by the Forum Leaders next week in Samoa seeks to ensure that member countries and development partners are able to deliver on SDGs.

“Central to the success of the roadmap is country ownership and a specific focus on SDG 17 which looks at the means of implementation including partnerships and secure development finance for the attainment of the SDGs,” she said.

Dame Meg stressed that Pacific Island countries require additional finance for long-term development on top of required resources to address sudden economic shocks and extreme weather events such as recent cyclones in Fiji, Samoa, Tonga and Vanuatu that wiped out 30 to 60 percent of the national economy.

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