The G20 Leaders’ Declaration, released during the summit in Rio de Janeiro under Brazil’s presidency, emphasized the critical role of financial inclusion in enhancing financial well-being. It also pledged to leverage digital technologies to reduce global inequalities.
The World Council of Credit Unions (WOCCU) International Advocacy welcomed the move, having previously urged the G20 to support financial cooperatives in improving access to financial services for underserved populations.
WOCCU’s Erin O’Hern emphasized that proportional regulatory frameworks enable credit unions to address financial service gaps effectively. The declaration’s focus on digital inclusion aligns with WOCCU’s mission to bridge the digital divide for vulnerable communities.
This marks the second consecutive year the G20 has prioritized financial inclusion, following India’s 2023 leadership endorsing proportional sustainability regulations.