ABSTRACT
Financial inclusion (i.e., access to finance) is receiving increasing attention as having the potential to contribute to economic and financial development while at the same time fostering more inclusive growth and greater income equality. Leaders of the G20 countries have approved the Financial Inclusion Action Plan and established the Global Partnership for Financial Inclusion 1 to promote the financial access agenda. The Asia-Pacific Economic Cooperation Finance Ministers’ process has a dedicated forum looking at financial inclusion issues. 2 The implementation of the Association of Southeast Asian Nations (ASEAN) Framework on Equitable Economic Development has made the promotion of financial inclusion a key objective (ASEAN 2014). The Asian Development Bank has approved 121 projects (amounting to USD 2.59 billion as of 2012) to support microfinance in countries in Asia and the Pacific region (ADB 2012). Many individual Asian economies have adopted strategies on financial inclusion as an important part of their overall strategies to achieve inclusive growth.
