The CBL boss made the statement in Nadi, Fiji where he is participating in the 8th Global Policy Forum (GPF) of the Alliance for Financial Inclusion (AFI). The theme for this year’s GPF is: “Building the Pillars of Sustainable Inclusion”.
This Year’s GPF highlights the global importance of financial inclusion as a key tool for sustainable development as has been recognized and enshrined in the new Sustainable Development Goals (SDGs) and the Addis Ababa Action Agenda on financing for development.
According to a press release, of the 17 goals, seven give specific recognition to financial inclusion as a powerful enabler of development progress.
The 2016 GPF was attended by over 540 delegates from 82 countries, including central bank governors and policymakers, international multilateral institutions, and the private sector. The ceremony of the 2016 GFP was opened by the Prime Minister of the Republic of Fiji, Rear Admiral (Retired) Josala Voreqe Bainimarama and attended by senior officials of the Fijian Government who reported on the full commitment of the Fijian government’s support to financial inclusion.
On the sidelines of the GPF on Thursday, September 8, the Executive Governor met with Mr. Alfred Hannig, the Executive Director of Alliance for Financial Inclusion during which Executive Governor Weeks highlighted financial inclusion as one of the key pillars of the new Strategic Plan of the Central Bank of Liberia and assured AFI of the strong commitment of the Central Bank of Liberia to the objective and goal of AFI. Mr. Hannig praised the active role that the Central Bank of Liberia continues to play in AFI since it became a member of the Alliance in 2010. Both leaders agreed to strengthen the partnership between the Central Bank of Liberia and AFI which will enable the CBL to benefit from the immense resources of AFI, including capacity building, knowledge-sharing and funding support for the financial inclusion program of the CBL. Executive Governor Weeks assured Mr. Hannig of the continuous active role of the CBL in AFI and expressed the CBL’s interest in taking membership in the Small and Medium Enterprise Finance Working Group (SMEFWG) of AFI.
“While Liberia has made significant strides in promoting financial inclusion, there is need for further actions to build on the progress made so far at the national level. The Agenda for Transformation, the strategy for taking Liberia to a middle-income level economy by 2030, clearly articulates Financial Inclusion as one of the key policy goals,” Governor Weeks noted.