Tonga won the Maya Declaration Award on the 2016 Alliance for Financial Inclusion (AFI) Global Policy Forum (GPF).
Radio Tonga reports the Maya Declaration has seen a strong growth in institutional commitments and a sharp increase in quantified targets.
It was presented to the Governor of the Reserve Bank of Tonga – Dr. Ngongo Kioa during Alliance for Financial Inclusion Global Policy Forum in Fiji.
Information from the National Reserve Bank of Tonga states, Governor Dr. Kioa will be sharing Tonga’s experience in developing of its national financial inclusion strategy which has been greatly assisted by its membership in the AFI.
This includes the outcome of the surveys on the public’s demand for financial services as well as suppliers of financial services, the associated challenges that have been identified, work in progress to develop policies and strategies to address the challenges.
Tonga will also benefit from the dialogues and discussions of successful and effective initiatives by the other members with similar challenges to Tonga in terms of promoting financial inclusion.
This would assist with improving people’s standard of living as well as support inclusive economic growth.
The theme for this year’s forum is “Building the pillars of sustainable inclusion” which focuses on the development and improvement of national financial inclusion strategies and policies.
This is the first time for the forum to be held in the Pacific which is an opportunity to display the unique Pacific Culture.
Tongan cultural dances and traditional costumes will be showcased by the Tongan students from the University of the South Pacific.
National Reserve Bank of Tonga became a member of the Alliance for Financial Inclusion in 2012 as it recognizes the valuable contribution of financial inclusion initiatives towards achieving the bank’s vision of being en effective and dynamic central bank in promoting Tonga’s economic prosperity.
The Forum is co-hosted by the AFI and the Reserve Bank of Fiji.