Financial Inclusion and MSMEs’ access to Financing

Tulus T.H. Tambunan
Sustainable Development Management Ph.D. Program
Faculty of Economics and Business Universitas Trisakti


Financial inclusion emerged as a hot topic in the wake of the 2008 global financial crisis, primarily due to the crisis’s impact on those at the bottom of the pyramid (low and irregular income, isolated, living with disabilities, undocumented workers, disadvantaged communities), who are typically unbanked and numerous in developing economies. At the G20 Pittsburgh Summit in 2009, G20 members agreed to increase access to finance for this group, which was subsequently reiterated at the Toronto Summit in 2010, by issuing nine Principles for Innovative Financial Inclusion as development guidelines for financial inclusion, namely leadership, diversity, innovation, protection, empowerment, cooperation, knowledge, proportionality, and frameworks. Since then, numerous international forums have focused on financial inclusion, such as CGAP World Bank, APEC, Asian Development Bank (ADB), and the Alliance for Financial Inclusion (AFI), as wellas international standard-setting bodies, namely the Bank for International Settlements (BIS) and Financial Action Task Force on Money Laundering (FATF), including developing economies like Indonesia ( aspx).


Policy Discussion Paper Series