East Asia and Pacific

East Asia and Pacific (EAP) contains a significant share of the world’s population (27%) and the world’s poor (24%). It includes twenty five countries, and three major sub-regions with significant heterogeneity (China, the Pacific, and East Asia).  Overall, the region has enjoyed a high rate of economic growth in the past years, especially China, and relative resilience to the financial crisis.

The region has the highest percentage of adults with a formal account according to Findex (54%).  However, there are several large underserved markets (e.g. Vietnam, Myanmar, and China), and less than thirty percent of poor people have formal access. Governments play a prominent role at all levels of the financial system, and private microfinance has limited coverage (15% of total clients recorded by Mix worldwide). The region has several success stories in the area of regulations, retail models or branchless banking.

In EAP, CGAP focuses on fostering knowledge and good practices on supervision and regulation, and on using technology to expand financial access.  We often collaborate with our members (e.g. AusAid, ADB, IFC, JICA,WB), with local stakeholders, and with regional networks (e.g. SEACEN, BWTP). Given its size and influence in the world, we are increasing our engagement with China.

 

Publications

19 December 2017
The 2017 CGAP Cross-Border Funder Survey sheds light on key trends and development in international funding for financial inclusion. It shows that funder commitments to financial inclusion reached a historic high of US$37 billion in 2016.
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English (4 pages)
05 March 2014
This case study examines the design and implementation of the 4Ps conditional cash transfer program in the Philippines, explains the experiences of stakeholders and presents lessons learned.
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English (40 pages)

From Our Blog

A QR code beside a cash register in Shanghai, China
30 January 2018
1 comment
QR codes are gaining traction in China as a way to make digital payments, but will they catch on in other countries?
A busy train station platform in Tianjin, China
11 January 2018
1 comment
What's the secret to Alipay and WeChat Pay's success in mobile payments? Creating in-app universes of bundled services has played a big role by making mobile payments more useful to customers.