Overview : The MAP Nepal Roadmap and Action Plan was produced as part of UNCDF’s MAP Nepal Initiative. The MAP Nepal Roadmap and Action Plan assists the Government of Nepal and Nepal Rastra Bank as well as private stakeholders to work towards the common goal of increased financial inclusion. MAP Nepal Financial Inclusion Action Plan outlines the short and long-term strategies and identifies specific activities that can be undertaken by the government to achieve the priorities outlined in the MAP Nepal Financial Inclusion Roadmap 2017-2030. The MAP Nepal Roadmap therefore has identified six priority opportunities for increasing financial inclusion: - Unlock constrained credit and savings market;
- Improve payment systems;
- Bolster risk-mitigation capabilities;
- Enhance and leverage locally based financial service providers;
- Enhance financial inclusion support in national governance; and
- Strengthen consumer empowerment, protection and education.
The implementation of the MAP Financial Inclusion Road Map and Action Plan will require not only coordination and involvement of different departments of the regulating bodies but also with a number of international initiatives to which NRB or Government of Nepal has expressed commitments to. This would entail efforts of multiple ministries and institutions under a framework that pools in the resources and expertise of the actors involved. UNCDF was instrumental in the development of the Roadmap and will continue to support NRB to capacitate the NRB-managed Secretariat. UNCDF will provide technical assistance through a Senior National Consultant who will oversee the whole Financial Inclusion Roadmap implementation process to support/manage day-to-day operations of the Secretariat Office to assist the member secretary of High-level Financial Inclusion Roadmap Implementation Committee (HLFIRIC) and the secretariat. |