Overview
The East Asia and Pacific (EAP) region contains a significant share of the world’s population (22%) and the world’s poor (25%). Though there are three major sub-regions with significant heterogeneity (China, the Pacific, and East Asia), overall, EAP has enjoyed a steady rate of economic growth and relative resilience to the financial crisis, as compared with the rest of the world. Remittances are particularly significant in the Pacific, China and the Philippines.
On average, there are high levels of government intervention at all levels of the financial system (e.g., state banks, socialist economies), and there are pockets of success in terms of regulations, retail models or branchless banking (e.g., Cambodia, the Philippines, and Indonesia). However, there are several large un-served or underserved markets (e.g. Vietnam, Thailand, Myanmar, and China). As a result, overall, there is a low coverage of private microfinance (10% of total microfinance assets and 13% of clients worldwide according to Mix figures) with limited commercial investment (representing 6% of MIV assets). State banks are quite active however, especially in savings mobilization.
In East Asia, CGAP focuses on policy and branchless banking and has conducted several country diagnostics on policy, regulation and supervision, branchless banking and consumer protection. We also provide training and advice to government and funder staff.
Contact Regional Manager Eric Duflos.
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