Following two years of global uncertainty which marked unprecedented change, 2022 heralded long awaited negative impacts that materialised more tangibly in many aspects of society, a pre-cursor for 2023 with toughening economic times ahead?

The year saw the beginning of the realisation that a renewed focus on dealing with the various crisis and emergencies at play was urgently required. Similarly, in the development space, there has been a realisation that a keen focus on course correcting and re-direction to stem the worst regressions from progressing was necessary. Working within this contextual reality, the MAP programme built on its tried and tested theoretical foundation for financial inclusion for inclusive growth and more deliberately focused its financial inclusion work to align even closer with the meticulously designed and painstakingly coordinated multi-stakeholder compact of the UN Sustainable Development Goals (SDGs). In times of uncertainty, a clarity of vision, and the conviction to act on it is required, and thus, to achieve the SDGs, pragmatic solutions is imperative.

Thus, in line with the brevity necessary for meeting the SDG’s, MAP focussed on building and testing new robust conceptual frameworks for the next phase of financing for the low-income market - building out the technical pillars to enable financial inclusion for inclusive growth. Leveraging its extensive database, practical learnings in the field and key stakeholder relationships, the technical areas were defined to include sustainable finance and digital finance, market competition and financial sector development as a natural extension in the evolution of financial inclusion.

Notably a strong focus on domestic financing is included, given its natural linkage with financial inclusion and by extension with the explicit objective of targeting investments towards the low-income (both people and countries) in key inclusive growth areas as identified by MAP - basic services (clean energy), entrepreneurship (micro and small businesses at household level), unemployment and income inequality (vulnerability - women, youth, and refugees).