U.N. Side Event Discussion on Financial Inclusion and Financial Stability

On Wednesday April 25th, 2018, the NGO Committee on Financing for Development organized a side event at United Nations Headquarters in New York to present the progress made by financial inclusion strategies to reduce income equality, alleviate poverty and shrink the gender gap. The event was part of the agenda of the Financial Development Forum that took place from April 23-26, 2018.

Participants in the activity included several international experts who
presented to the audience some of the diverse and dynamic policies and initiatives that have contributed to meet the Committee’s goals. Anita Thomas was the event moderator and introduced the speakers.

The first speaker was Mr. Akinremi Bolaji, Minister of the Plenipotentiary Mission of Nigeria to the United Nations, who
explained the progress that his country has made thanks to the implementation of development policies.

The second speaker was D. Sebnem Sener, policy advisor, United Nations Secretary and General Special Advocate for inclusive Finance for Development (UNSGSA). She discussed the use of finance to reduce poverty through the opening of banks in rural areas to guarantee and encourage the savings of the people and through these savings facilitate their access to credit and
insurance. She concluded that finance can also promote gender equality through digital finance.

The third speaker was Mrs. Pamela Eser, Financial Inclusion expert who currently works for the Global HEAD, MicroLead and the Forcibly Displaced, as well as in the United Nations Capital Development Fund (UNCFD). In her remarks, she explained how mixed finances and new technologies in development policies can reduce social exclusion and poverty. She notably emphasized the work
of the MicroLead Programme, an initiative that trains individuals in the use of new technologies.

Another initiative is to develop skills in the use of micro-financing throughout the use of mobile telephones.

Mr. Claudio G. Fernandes, Economic Policy Advisor of the Gestos/Brazilian Working group for the 2030 Agenda, reported that Brazilian social programs have empowered women and helped reduce poverty and social exclusion. He also pointed out the role
of finance in the development of social policies and gave as an example the government-run program “Bolsa Familia.”

Dr. Martha Quiñones, professor of Economics at the University of Puerto Rico, the fifth speaker on the agenda, explained the difficult situation faced by women in Puerto Rico especially after the impact of Hurricane Irma in September 2017. Moreover, she pointed out that the aid received in Puerto Rico has been insufficient, especially for those living in
extreme conditions. She also emphasized the role of women and co-ops in the reconstruction of Puerto Rico.

Yamile Eusebio, New York Office Director of the Global Foundation for Democracy and Development (GFDD), and U.N. intern Skyara Guridi represented the institution and supported the organization of the side event.

The support of the following participating NGOs was key to the success of the panel discussion, such as The Virginia Gilder Sleeve
International Fund, Company of the Daughters of Charity of St. Vincent DePaul, and the Religious of The Sacred Heart of Mary.

The panel concluded with a dynamic Q&A session.

About Global Foundation for Democracy and Development (GFDD)
GFDD is the sister organization of FUNGLODE in the United States. FUNGLODE, founded in the year 2000 by Dr. Leonel Fernández upon completing his first presidential mandate, has its
headquarters in Santo Domingo, Dominican Republic. Dr. Leonel Fernández is the President of both institutions.

GFDD formulates and implements initiatives that contribute to sustainable social, democratic, economic and cultural development, and to the improvement of lives in the Dominican Republic and the Western Hemisphere.