Pacific Financial Inclusion Joint Programme (PFIP) success leads to Phase Two
21 May 2014
The second phase of the Pacific Financial Inclusion Programme (PFIP) joint programme begins in July 2014, building on the momentum and achievements of phase one, which enabled over 500,000 individuals and/or small and microenterprises gain access to financial services.
PFIP was originally developed to achieve greater financial inclusion in one of the least banked regions in the world. The United Nations Capital Development Fund (UNCDF), United Nations Development Programme (UNDP), and EU Africa, Caribbean and Pacific Microfinance Framework Programme (EU/ACP) developed the project document in 2007 and PFIP became active in August 2008.
With financial support from Australia amounting to AUD 14 million and other parallel financing, a $22 million phase two joint programme is now getting underway. Building on lessons from the first phase, PFIP phase two will increase the quality and range of financial products and services to expand the number of users, and more importantly to achieve the benefits envisioned for low-income users. To learn more about the joint programme, visit the webpage at: http://mptf.undp.org/factsheet/fund/JXB00