Joint Programme Factsheet
Tools for » JP Pacific Financial Inclusion


The United Nations Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) have established a Joint Programme entitled Pacific Financial Inclusion Programme (PFIP) ,” using a combination of pass-through and parallel financing. The PFIP Joint Programme shall support a second phase of the PFIP for a period of five years from July 2014 - June 2019 to build on the momentum and achievements of phase one.

PFIP was developed to achieve greater financial inclusion among one of the least banked regions in the world. Building on the outcome of PFIP phase one that enabled over 500,000 additional individuals and/or small and microenterprises in the Pacific Island Countries (PICs) gain access to one or more appropriate financial services by the end of 2013, PFIP phase two aims to building on lessons from PFIP phase one and increase the quality and range of financial products and services to drive up active usage, and more importantly to achieve the benefits envisioned for low-income users.


Assistance Strategy

The overall aim of the PFIP phase two is to respond to current and emerging challenges in the inclusive finance space in the Pacific in order to play a catalytic role in expanding access to financial services for rural and low-income women, men, youth and microentrepreneurs.

Broadly, the following are the programme targets that PFIP’s aim to achieve:

  • Additional 500,000 low-income people, with at least 50% women, gain access to appropriate/affordable financial services
  • Additional 150,000 previously unbanked people, with at least 50% women,  gain access to a formal savings account
  • An average savings balance of USD 10 in active savings accounts/mobile wallets
  • 15% of clients of PFIP-supported branchless/mobile banking solutions are active[1]
  • Four additional PICs have national financial inclusion strategies that reflect gender differences and which are based on sound and comprehensive diagnostics.  Countries with strategies that are three or more years old review and update their strategies
  • Three additional PICs offer financial education through core curricula
  • Three additional PICs have national financial literacy strategies in place

PFIP phase one primarily supported development of financial inclusion in six countries in the South Pacific that account for 90% of the region’s population: PNG, Fiji, SOI, Vanuatu, Samoa and Tonga. Three of those (Samoa[2], SOI and Vanuatu) are LDCs.  PFIP phase two will continue to work in the largest six countries, while exploring the possibility of adding the other regional LDCs (Tuvalu and Kiribati) to its portfolio.


Regional Dimension

The programme outputs are well aligned with global, regional and national priorities of the stakeholders. The overall drive is towards achieving the global Financial Inclusion Vision 2020. Regionally, the programme is aligned with the Money Pacific Goals endorsed by Foreign Economic Ministers Meeting. The implementation strategy of the programme at a national level will be developed alongside the Pacific Island Working Group (PIWG). At the national level, the programme will continue to align its interventions with the overall financial inclusion strategy/priorities of the central banks and the national governments via NFITs or other coordinating units.

Each PIC is at a different stage of market development when it comes to financial inclusion, which necessitates a tailored approach for each country. While the programme appreciates the need to tailor interventions that suit the individual country context, there are certain cross-cutting gaps/opportunities that will call for a regional approach.



The PFIP coordination will be vested in the Joint Investment Committee (JIC) which will have representation from programme donors and policy advocacy partners. The JIC will approve the annual workplan, monitor progress and provide strategic directions to optimize the impact of the programme. The JIC will also review and approve project proposals supported by the grant facility and ensure efficient use of resources, avoid duplication of efforts and maximize synergies with other donors / partners.

The proposed management structure for PFIP phase two will include a team consisting of functional experts at the regional level (financial capacities, gender, research, microinsurance and M&E) who will be supported by country coordinators in PNG, SOI, Vanuatu and Samoa.  The overall management of the programme will be supervised by the Pacific Financial Inclusion Advisor.



[1] Global average for active users of mobile money deployments is around 10%.  PFIP’s average is currently 7.5%, the goal is to double active use in the coming phase

[2] Samoa is scheduled to graduate from LDC status in 2014

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Key Figures
Funding Status
Participating Organizations are required to submit final year-end expenditures by April 30 in the following year; Interim expenditure figures are submitted on a voluntary basis and therefore current year figures are not final until the year-end expenditures have been submitted.
Total as of
Values in US$
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Funds with Administrative Agent
Contributions from Donors 26,490,750  
Interest and Investment Income (from Fund) 162,025  
Interest (from Participating Organizations) 0  
Total source of funds   26,652,775
Transferred to Participating Organizations 26,380,896  
Refunds from Participating Organizations 0  
Administrative Agent Fee 264,907  
Direct Cost 0  
Bank Charges 797  
Total use of funds   26,646,600
Balance with Administrative Agent   6,175
As a percentage of deposits   0.0%
Funds with Participating Organizations
Transfers to Participation Organizations 26,380,896  
Total resources   26,380,896
Participating Organizations' Expenditure 26,358,904  
Refunds from Participating Organizations 0  
Total expenses     26,358,904
Balance with Participating Organizations   21,992
As a percentage of transfers   0.1%
Total Balance of Funds   28,167
As a percentage of deposits   0.1%
Delivery Analysis
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For Policy and Programme Issues

UNDP Pacific Office, Fiji

  • Krishnan Narasimhan, UNCDF Deputy Programme Manager, E-mail:
  • Judith Karl, UNCDF Executive Director, E-mail:

For Fund Administrative Agent Issues

Multi-Partner Trust Fund Office (MPTF Office), Bureau for Management Services, United Nations Development Programme; Fax: +1 212 906 6990;  


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