Publication

Cambodia Financial Inclusion Refresh (2021)

  • April 06, 2022

  • Publications, guides and communication materials

Summary

In 2015, UNCDF assisted the Royal Government of Cambodia to prepare a Financial Inclusion Road Map and Action Plan. It aimed to “increase access to quality formal financial services, reduce the financial exclusion of women by 50% (from 27% to 13%), and diversify usage of formal financial services from 59% to 70% by 2025 as well as improve household welfare and support economic growth.” The plan called for a MAP study on Cambodia.

A 2017 MAP Diagnostic report considered the context in Cambodia, the demand for and supply of financial services, and regulation of these services. The report highlighted interventions that best meet national objectives for growth and improved livelihoods, and provided a roadmap for defining, prioritizing, coordinating, measuring and tracking these. The report also identified practical recommendations for overcoming barriers to greater financial inclusion, including by encouraging savings in formal financial institutions; promoting innovative credit products for SMEs and MSMEs; enabling the expansion of payment system capabilities; prioritizing the development of a well-functioning insurance market; strengthening the capacity of financial sector regulators; and increasing consumer empowerment and sector transparency.

This current report is a MAP Diagnostic Refresh. It reviews implementation of the 2017 Diagnostic recommendations and considers key market changes to identify financial inclusion interventions that can accelerate economic growth and deliver broad social benefits.

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