News

During 2008 FDC has been providing inputs to the APEC Business Advisory Council. Following a lengthy dialogue and consultation process in Jakarta, Moscow, Hangzhou and Kuala Lumpur, a major new Finance Ministers Initiative was proposed at the APEC Finance Ministers Meeting in Lima from the 2-6 November with the aim of expanding financial inclusion in APEC’s developing economies. Here are some of the key submissions and documents:

Draft Agenda Finance Minister’s Meeting: 2 – 6 November, 2008.

APEC and Financial Inclusion: A regional cooperation initiative

Financial inclusion: An historic opportunity for ABAC

Advisory Group 2008 Report on Capacity-Building Measures to Strengthen and Develop Financial Systems

Policy initiatives under the APEC Finance Ministers’ process

The Vietnam Industry Assessment is a review of the microfinance sector in Vietnam, and constitutes a new contribution to the BWTP Network’s Asia Resource Center for Microfinance. This assessment builds on a country profile completed by the BWTP Network in 2006. The Vietnam Industry Assessment is are based on research conducted from a desk study, as well as contributions resulting from meetings with key stakeholders and practitioners in Vietnam in June and July 2008 in Vietnam. A copy of the industry assesment is avaliable from: http://www.bwtp.org/files/Resources/Industry_Assesment/BWTP-Vietnam-Industry_Assessment-2008.pdf

Masud Isa, Senior Private Sector Development Specialist, will lead an interactive video conference session on the use of communication technology for the development SMEs on 11 November 2008, which is taking place as part of the Pacific Leaders Virtual Forum 2008. More…

On October 17th FDC made a submission to the Standing Committee on Foreign Affairs, Defence and Trade Inquiry into the main economic and security challenges facing Papua New Guinea and the Island States of the Southwest Pacific. A copy of the submission is in the Australian Senate’s website and can be accessed through this link: http://www.aph.gov.au/Senate/committee/fadt_ctte/swpacific/submissions/sublist.htm

The submission emphasises the importance of supporting economic development in PNG, Solomon Is, Vanuatu and Fiji and asks the Australian government to include these countries in the recently approved labour scheme for Pacific workers. The submission also calls for more research and funds to develop ways to reduce the cost of remittances to the Pacific and to support microfinance activities in these countries.

There were a total of 62 submissions to this inquiry.