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

QR codes in China
17 April 2018
China will soon require payments providers, including Alipay and WeChat Pay, to connect to a public online payments clearinghouse. Here’s what we know so far about how this institution will work and what it could mean for mobile payments.
Fishermen use a mobile app to locate fish in Indonesia
11 April 2018
Smartphone penetration of 80 percent and low bank account access suggest that digital financial services will take off in Myanmar. China’s experience may offer clues about how and when this will happen.