IDB Group analyzes financial inclusion in times of COVID-19
Financial inclusion is called to play a fundamental role in the response of Latin America and the Caribbean (LAC) to the COVID-19 crisis. On November 16, IDB Lab, the innovation laboratory of the Inter-American Development Bank and IDB Invest, the private arm of the IDB Group, will bring together experts on the state of financial inclusion in a scenario strongly marked by the disruptions caused by the health emergency. The event will take place virtually from 10:00 am to 12:30 pm (EST), after registering at the following link.
The webinar is organized in three sessions and will address, to begin with, the effectiveness of response tools and mechanisms activated to support vulnerable populations, mainly the role played by payments, remote banking and digital infrastructure. This first session will also include the global launch of the 2020 edition of the Global Microscope on Financial Inclusion, conducted annually by The Economist Intelligence Unit with the support of the Bill & Melinda Gates Foundation, the Center for Financial Inclusion, IDB Invest and IDB Lab.
The Global Microscope annually presents data on how regulators and policymakers in 55 countries are driving the creation of environments conducive to financial inclusion for small businesses and vulnerable populations. In this edition, special emphasis has been placed on seeking to understand those instruments that, in the context of financial inclusion, have served to address the crisis generated by the COVID-19.
The impact of the pandemic on the daily operations of financial service providers will be analyzed in the second session of the event, which will emphasize aspects such as the reduction of liquidity or insolvency, or the reorganization of work (business continuity plans, emergency management, teleworking, etc.).
Oliver Wyman will present medium-term recommendations on how to improve the resilience, innovation and inclusion of financial systems in Latin America and the Caribbean, work done in collaboration with the Association of Supervisors of Banks of the Americas (ASBA), the Financial Governance and Inclusion project (GIF) and IDB Lab.
The third and final session will discuss the day after the vaccine, providing recommendations on how to improve the resilience, innovation and inclusion of financial systems in Latin America and the Caribbean.
November 16, 2020
10:00 am to 12:30 pm EST
Simultaneous translation in English and Spanish.
About the IDB
The Inter-American Development Bank's mission is to improve lives. Founded in 1959, the IDB is one of the main sources of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research projects, provides policy advice, technical assistance, and training to public and private clients across the region.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $12.1 billion in asset management and 333 clients in 24 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About IDB Lab
IDB Lab is the innovation laboratory of the IDB Group, the main source of financing and knowledge for development, focused on improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, mobilizing financing, knowledge and connections to co-create solutions capable of transforming the lives of vulnerable populations due to economic, social or environmental conditions. Since 1993, IDB Lab has approved more than $2 billion in projects developed in 26 LAC countries, including investments in more than 90 venture capital funds.