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Mexico - Financial Inclusion Development Policy Financing Project (English)

The development objective of the Financial Inclusion Development Policy Financing (DPF) Project for Mexico is to support the government’s efforts to increase financial inclusion. The DPF supports Mexico’s efforts to deepen financial inclusion, which has been a critical bottleneck for growth and poverty reduction. The new authorities and the recent systematic country diagnostic (SCD) have highlighted the need for further financial inclusion as a way to foster inclusive growth. The new authorities and the SCD have also highlighted the need to reduce the significant household and regional disparities in access to finance. The financial inclusion reforms undertaken by the government are expected to support adaptation climate co-benefits. The financial sector plays a key role in managing these risks. Using the typology introduced by the 2014 World Development Report on managing risk for development, the measures supported by this operation provide access to: (i) innovative, technology-based products such as market insurance (through Fintech); (ii) an expanded menu of products for the unbanked population provided by State Development Banks, including self-insurance (deposits); and (iii) electronic payments systems that offer a safe and efficient alternative to cash (self-protection).

Details

  • Document Date

    2019/05/21

  • Document Type

    Program Document

  • Report Number

    PGD51

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Mexico,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2019/06/21

  • Disclosure Status

    Disclosed

  • Board Meeting Date

    2019-06-18T00:00:00Z

  • Doc Name

    Mexico - Financial Inclusion Development Policy Financing Project

  • Keywords

    poverty and social impact analysis; real time gross settlement system; financial inclusion; payroll accounts; access to financial service; payment and market infrastructure; Financial Sector; current account deficit; net public debt; Electronic Payment; higher incidence of poverty; Micro and Small Business; access to payment system; Grievance Redress Service; flexible exchange rate regime; consequence of climate change; macroeconomic policy framework; access to finance; Exchange Rates; formal financial institution; ease of use; foreign direct investment; Equilibrium Interest Rate; availability of fund; impact on poverty; implementation of regulation; independent central bank; electronic payment system; credit rating agencies; credit rating agency; transaction account; primary surplus; rules of origin; long-term climate change; current account balance; terms of trade; foreign exchange rate; tax policy reform; public debt sustainability; debt sustainability analysis; per capita basis; federal government debt; reduction of poverty; share of woman; financial service access; bilateral trade flow; capital market access; package of policy; line of defense; financial sector reform; freedom of choice; Capital Adequacy Ratio; extreme weather event; high tax burden; short-term external debt; reducing public debt; global public good; terms of knowledge; gross domestic product; external debt service; gap in access; business to business; state oil company; average interest rate; higher interest rate; court of law; public debt stock; official poverty rate; responsible fiscal policy; peer reviewer comments; removal of trade; emerging market investment; summary of risks; financial sector providers; increase in income; weak financial position; consumer loan; natural disaster; account ownership; Financial Access; Economic Inequality; downside risk; banking system; policy uncertainty; fiscal consolidation; monetary policy; commercial bank; external demand; supply side; inclusive growth

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Citation

Mexico - Financial Inclusion Development Policy Financing Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/661091561168880162/Mexico-Financial-Inclusion-Development-Policy-Financing-Project