Access to Financial Services as a Driver for the Post-2015 Development Agenda

Financial inclusion is an enabler of the post-2015 development agenda. This policy brief aims to highlight several components of a best-fit policy mix to expand financial inclusion. New technologies and innovative business models exhibit great potential to overcome access barriers. Governments have an important role in setting up sound regulatory frameworks and conditions to expand the supply and affordability of financial services, to ensure that such services remain supportive of the real economy, and to create an expanded demand for them, such as through financial education and empowerment. Actions towards financial inclusion could contribute to facilitated, speedier, safer and less costly transfer of remittances, the importance of which is also recognized within the sustainable development goals (SDGs).

Key points in this brief include:

• Effective use and access of available, affordable, convenient, quality, and sustainable financial services contributes to poverty reduction and economic and social development;
• Financial inclusion contributes to facilitated, speedier, faster and less costly remittances;
• Innovative business models and new technologies have large potential in overcoming access barriers;
• Governments have a central role in the policy mix and regulatory framework to extend supply and affordability of services, and to expand demand for financial services, towards financial inclusion.