With the support of MEP partners and microfinance institutions, the Bank of PNG launched the Gender Equity and Social Inclusion (GESI) Policy for Microfinance Institutions (MFIs) in 2017.
Wherever possible and appropriate, the Project is collaborating with other projects, NGOs, government departments, civil society, community groups and the private sector to maximise the impact and reach of the GESI policy implementation.
The project team is working with capable MEP partner financial institutions and other financial service providers and organisations in PNG who are committed to increasing financial inclusion to adopt and practically implement the GESI Policy.
The project team is providing: technical assistance, training and materials and guidance to conduct organisational gender assessments, review existing operations and product and service offerings, expose issues, identify opportunities and highlight new product/service possibilities, encourage innovative approaches, enable linkages, foster collaboration, develop GESI Implementation Plans, establish monitoring and evaluation systems, and report progress and lessons learned.
The project team is working to introduce, inform and organise stakeholders via provincial multi-stakeholder meetings and national workshops to encourage collaboration and more effective policy development and coordination of efforts to increase women’s financial inclusion. Project team members will also regularly participate in the National Financial Inclusion Strategy’s Working Groups to ensure issues specific to women’s financial inclusion are raised and represented.
The project team is working to develop and coordinate national and provincial media coverage to increase awareness and understanding of financial inclusion, particularly for women. The media campaign will also benefit participating financial institutions by building their public profiles and increasing awareness of their implementation of the GESI Policy. The work done with each participating institution throughout the implementation process will be documented and presented via a series of multi-media case studies highlighting activities, outcomes and lessons learned.
The project team is working with the Bank of Papua New Guinea, CEFI and all licensed and regulated financial institutions to reach consensus on key definitions for critical internationally accepted financial inclusion indicators and quarterly collection and reporting systems. A quarterly National Financial Indicators Report enabling and including regular and critical analysis of progress and informed policymaking and program decisions, particularly on the extent of women’s financial inclusion, will be produced.