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IPFS News Link • Central Banks/Banking

G20 Recommends Digital Public Infrastructure (DPI) Policy to Drive Financial Inclusion

• By Ayang Macdonald

The group of the 19 most advanced economies in the world, the European Union, and mostly recently the African Union, the G20, has published a policy guide on how the development and deployment of digital public infrastructure (DPI) can advance financial inclusion and productivity gains in the Global South.

The 78-page document, produced by the World Bank and the G20 Global Partnership for Financial Inclusion (GPFI), examines DPIs and their role in the financial sector. It examines how they can be an effective driver of financial inclusion and productivity, the potential areas for further exploration, as well as some case studies and use cases involving countries in Africa, Asia, Europe and Latin America.

With an interoperable and open system, DPIs can foster inclusive economies and enable vulnerable groups to have access to critical services easily and securely through expedient payment platforms, the document notes, adding that such infrastructure also have the potential to lead nations towards meeting the United Nations' Sustainable Development Goals (SDGs). India recently signed an agreement with the UNDP to promote DPIs as a way of meeting the SDGs.

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