31/12/2024
Svara Institute is honored to have collaborated with Asia-Pacific Economic Cooperation (APEC) on the launch of the APEC Economic Policy Report (AEPR) 2024. As co-author, we recognize the transformative potential of advancing financial inclusion to foster inclusive and sustainable economic growth across the Asia-Pacific region.
The report, titled “APEC Economic Policy Report 2024: Structural Reform and Financial Inclusion”, underscores the critical role of structural reforms in advancing financial inclusion. Supported by empirical evidence, the AEPR 2024 demonstrated a strong correlation between financial inclusion and enhanced macroeconomic performance. It also highlights the significant challenges faced by marginalized groups—such as women, micro, small, and medium enterprises (MSMEs), Indigenous Peoples and individuals with disabilities—in accessing affordable financial services, emphasizing that financial inclusion is not merely a social priority but a fundamental driver of entrepreneurship and economic stability.
The AEPR 2024 presents a range of strategies and policies implemented by APEC economies, e.g., credit guarantee schemes, digital payment initiatives, and financial literacy programs to equip individuals with the tools to make informed financial decisions. These initiatives form a comprehensive roadmap for unlocking untapped potential, reducing poverty, and catalyzing inclusive growth. This pivotal release serves as a reminder for stakeholders, policymakers, and society that enabling individuals and businesses to participate in the financial system is essential for equitable and sustainable development. Together, we can build an inclusive financial ecosystem that supports equitable growth and economic resilience across the region.
Access the full report here: https://www.apec.org/publications/2024/11/2024-apec-economic-policy-report
This year’s APEC Economic Policy Report (AEPR) discusses the crucial topic of Structural Reform and Financial Inclusion, addressing both demand-side and supply-side issues through structural reforms to facilitate all people to access and utilise financial services.