With its substantial impact on the lives of millions of people around the world, financial inclusion has become a global concern.

Recognizing its significant contribution to the country's economy, in The Central Bank of Djibouti (BCD) and the Minister of Finance, Economy and Industry, with the support of UNDP, have been working on the development of the National Strategy for Financial Inclusion since October 2019. Based on a broad inclusive process of consultation with relevant stakeholders, the National Strategy for Financial Inclusion 2021-2026 was presented to the stakeholders on 10 February during a validation workshop.

The implementation of this strategy supports the acceleration of sustainable development and represents a catalytic action to achieve the first pillar of the National Development Plan "Djibouti ICI" - INCLUSION.

It is a decisive step towards the development of an inclusive financial sector that offers quality services and products designed to meet the needs of a wide range of clients, from marginalized segments to the most sophisticated, and contributes to more equitable economic development.

During the validation workshop, the governor of the central bank, H.E. Ahmed Osman, mentioned that to ensure the conditions for success of the national strategy for financial inclusion, it is necessary to put in place a favorable regulatory framework, to accompany the capacity building of key stakeholders and to strengthen advocacy, awareness and financial education among the population. He added that it will be necessary to put in place a monitoring framework and evaluate their impacts on the population and remove obstacles to the development of financial inclusion.

The Minister of Finance, Economy and Industry H.E. Ilyas Moussa Dawaleh emphasized that "The benefits of financial inclusion and inclusive growth, where the fruits are shared, are clearly established. Access to financial services opens doors for families, allowing them to smooth their consumption and invest in their future through education and health. Access to credit allows businesses to grow, creating jobs and reducing inequality. This is why he continued that "our vision for the next five years will be permanent access and effective use, by population, of a diversified range of financial products and services adapted to their needs and at affordable costs".

The UNDP representative, Fatima Elsheikh stressed that financial inclusion aims to benefit all segments of Djiboutian society by developing financial means that are affordable and accessible to all. She also added “To develop the draft strategy, we undertook a consultative approach with national stakeholders from government and civil society to ensure that the voices of the end customers of financial services are heard".

UNDP is pleased to see the ambitious commitment of the Central Bank, the Minister of Finance, Economy and Industry and key line ministries to increase the current percentage of people benefiting from financial services from 26% to double in two years. This ambitious target requires the collaboration of all stakeholders, the Central Bank and the Minister of Finance, Economy and Industry, supported by the strong commitment of the administration, the private sector and civil society and development partners.

UNDP will continue to provide support throughout the implementation of the national development plan and support the inclusion agenda.