Digital Financial Inclusion for Development Forum
On April 19, 2019, USAID hosted the Digital Financial Inclusion for Development Forum to showcase the latest evidence in inclusive digital services on development outcomes, emerging models and best practices.
USAID is reorienting the way it does business to focus on supporting our partner countries on the Journey to Self-Reliance, or their ability to solve their development challenges. Achieving self-reliance for our partner countries will not be possible without inclusive financial systems that create jobs, build markets, strengthen resilience, and empower women and youth.
Inclusive digital financial services are making headway, accelerating development goals and broader economic growth. In Kenya, digital financial services have helped 1.4 million people gain access to healthcare. In Liberia, digital financial services help reduce teacher absenteeism.
These exciting advancements demonstrate the bright potential of digital financial services, but more evidence is needed across health, agriculture, resilience, humanitarian assistance and energy to show the many ways digital financial services accelerate development outcomes.
In the months since the event, the Digital Finance practice has been reflecting on key takeaways from the forum. The DFI4D: Pathways to Self-Reliance factsheet describes the event development, objectives, and spotlights from the various sessions, and five key insights:
- Digital payments should serve as an entry point, not an endpoint.
- Use a human-centered design approach.
- Help financial institutions reach the underserved with DFS.
- Incorporate evidence and data to make smart programmatic decisions.
- Use DFS to accelerate the Journey to Self-Reliance.
Be sure to stay engaged with Marketlinks and DFI4D for more information on Digital Financial Inclusion for Development!