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Track 1: Fostering Resilience through Financial Inclusion

Financial Inclusion seeks to make financial services accessible, at affordable costs, to all individuals and businesses regardless of their net worth and/or size. In this way financial inclusion supports broad-based participation of poor and marginalized groups in financial intermediation processes. Evidence shows financial inclusion, from both formal and informal services, has a positive impact on increasing household resilience to external shocks (several resources are noted below). This track will explore both proven and innovative strategies to develop resilience in financial systems, communities, and households; and will look at products, services, and technologies that help households and enterprises better mitigate risks associated with climate variability, illness and disease, political instability, and conflict.

The selection committee will be looking for sessions that illustrate financial inclusion’s contribution to resilience (not financial inclusion standalone) across a broad array of contexts. If desired, you may provide your definition of resilience at the forefront of your proposal submission to allow reviewers to contextualize it and further understand your approach. Financial services should be construed as all types of financial products and services including but not limited to cash transfers, remittances, payments, insurance, savings, credit, supply chain transactions, etc.

  • How can market systems approaches be applied to achieve resilience and financial inclusion objectives?
  • How can financial services--including remittances, insurance, and/or government payments--help to build resilience?
  • What targeted design innovations can increase the resilience impact of financial products and services for different groups, such as women and youth, refugees?
  • What role can the private sector play in promoting financial inclusion and improving the enabling environment for resilience outcomes? For example, supporting and diversifying financial systems, improving regulatory environments, utilizing blended finance approaches for financial inclusion, or other examples of a meaningful private sector role in driving change.
  • How can digital financial services help households mitigate or respond to shocks and stresses?
  • What financial inclusion models and approaches have successfully been used in different contexts, such as an urban vs. rural dynamic, to build resilience?
  • Examples of new product design features for formal financial services that support clients in responding to a variety of shocks and stresses (e.g. climate shocks that affect many people versus health shocks that are more individualized)
  • Introduction of new finance models that support financial inclusion through: introducing Financial Technology solutions, developing local capital markets, addressing issues that discourage private investors, or responding to other challenges to promote innovative financial solutions
  • Examples of addressing barriers faced specifically by women, that limit their access to and use of financial services, such demand-side, supply-side and legal/regulatory barriers
  • Lessons learned on building resilience through multi-stakeholder partnerships between NGO and private sector actors, with particular emphasis on local actors and/or local capacity building for resilience
  • Demonstrations of savings groups and self-help groups offering informal financial services that support household and community-level resilience
  • Examples of how digital financial services--including savings, payments, and remittances--have been used to help households mitigate, respond to, and recover from shocks
  • Discussion of insurance products that reduce the impact of shocks on households, such as health insurance and agricultural insurance, and the lessons learned on the uptake, use, and benefit from these services
  • Evidence of the use of financial services, including income management/ cash flow smoothing products, that reduce vulnerabilities and improve household capacity to anticipate shocks and stresses
  • Examples of approaches (policy/regulatory, private sector led, development partner led) that can stimulate innovation in financial products and services that promote resilience

We are currently accepting proposals from SEEP members for Peer Learning Sessions and abstracts for the Innovation Challenge. The deadline for submissions is May 31, 2019. 

 

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