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ASEAN workshop aims to better financial access for the poor

Expertise and initiatives to improve financial access for low-income people in the Southeast Asian region were discussed at an ASEAN workshop held in Myanmar’s capital city of Nay Pyi Taw on October 29 – 30.
Expertise and initiatives to improve financial access for low-incomepeople in the Southeast Asian region were discussed at an ASEAN workshopheld in Myanmar’s capital city of Nay Pyi Taw on October 29 – 30.
 
Addressing the event, Myanmar’s Finance Minister U Win Shein said asan outcome of the 18 th ASEAN Finance Ministers Meeting 2014, thefunction aims at finding effective measures to extend financial servicesto people with no access to banking services.

The ministeremphasised the importance of financial access to poverty alleviation,noting that 70 percent of the poor in the world living in rural areasare excluded from financial systems. In addition, 59 percent of theworld's 2.5 billion adults without access to formal financial system areresidents in East and Southeast Asia.

The conference’sparticipants, including experts, policy-makers and officials from ASEANstate members and the United Nation, focused their discussions on theissues of allocating start-up capital for the poor and boosting women’srole in the field of finance.-VNA

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