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Pacific Financial Inclusion Programme (PFIP)

The Pacific Financial Inclusion Programme (PFIP) is a Pacific-wide programme funded by the United Nations Capital Development Fund (UNCDF), European Union and the United Nations Development Programme (UNDP) and operates from the UNDP Pacific Centre. PFIP is helping provide sustainable financial services to 80% of Pacific islanders mainly rural people and low income earners, who have limited access to banking services and are consequently unable to achieve their full economic potential or attain a productive and dignified living.

Publications  

Is the Pacific ready for mobile money?
A joint research team from the Pacific Financial Inclusion Programme and the International Finance Corporation took a close look at how a mobile money system might take hold in Papua New Guinea.  Despite all of the challenges in providing financial services, there is a great opportunity for mobile phone based financial services to increase people's financial and physical security in PNG.  This paper outlines how a mobile money system might develop in PNG, what existing networks it might use for "cash in" and "cash out" services, and how mobile money might help individuals, companies and government alike to lower cost, increase security, and reduce corruption linked to the movement of money.

Does training women in financial literacy influence wellbeing in rural fijian households? 
This report discusses the conclusion from 'Financial Capability, Financial Competence and well being in Rural Fijian households' - an in depth study of rural households in 2008. It concluded that - "The well-being of a rural household can be quantifiably improved if only one person in that household attends financial literacy training and has a savings account. A significantly higher level of well being is achieved when that person is a woman". It examines how women are more likely than men to have a greater understanding of the household finances and financial goals, however, women are less likely than men to have access to bank accounts and other financial services and training. Therefore because women are more competent than men at managing household finances giving women access to financial training would play a pivotal role in improving the well being of households.

Presentations

Mobile Phone Banking To Take Off In Samoa, Till Bruett, Pacific Financial Inclusion Advisor, 2010.  
On January 22, 2010, commercial banks, microfinance institutions, telecoms, civil society organisations, government officials and donor agencies gathered in Apia, Samoa, to learn more about what mobile banking can offer to the island nation. This presentation gives a brief outline of the Pacific Financial Inclusion Programme's (PFIPs) activities in the Samoa and the Pacific over the coming months.

Microinsurance Information Exchange (PNG), Pacific Financial Inclusion Programme, 2009. 
On Tuesday November 17, 2009, The Pacific Financial Inclusion Programme (AFIP) in partnership with the Asian Development Bank (ADB), and the PNG Institute of National Affairs (INA), hosted an information exchange focused on microinsurance. The purpose of this informal information exchange was to evaluate the greatest impediments to and opportunities for microinsurance in Papua New Guinea.

Prospects of Mobile Money in the Pacific, Pacific Financial Inclusion Programme, 2009.   
On Tuesday December 1st, The Pacific Financial Inclusion Programme (PFIP) in coordination with Central Bank of Solomon Islands (CBSI) hosted an information exchange focused on mobile money at the Heritage Hotel in Honiara.  Mobile money is broad term that refers to a range of financial services that can be offered across the mobile phone. The purpose of this informal information exchange was to gather those that have the potential to catalyze the development of mobile money in Solomon Islands.  CBSI Governor Denton Rarawa opened the event with a speech on the importance of financial inclusion in Solomon Islands, and Tillman Bruett, PFIP Project Advisor, then gave the presentation on mobile money.  The event was attended by representatives from CBSI, commercial banks, donor agencies, and civil society organizations.