Queen Máxima to discuss financial health at CGAP conference in Amsterdam
On the afternoon of Wednesday 11 June, Her Majesty Queen Máxima will attend a conference organised by CGAP in the Felix Meritis cultural centre in Amsterdam. In her capacity as the UN Secretary-General’s Special Advocate for Financial Health (UNSGSA), she will discuss financial resilience and financial health during an online fireside chat with Ajay Banga, the president of the World Bank.
In a dialogue entitled ‘Building resilience in a world of risk’, Queen Máxima will stress how important it is that households build up resilience to cope with unforeseen expenses, for instance through insurance or a buffer of savings. As UNSGSA, she advocates for the development of financial products and services that promote financial health. Examples include savings or insurance products linked to loans, savings schemes offered through employers, collective savings products for people on low incomes, and insurance policies to cover expenses arising from climate change or medical treatment. When people have access to loans that are appropriate for their personal situation, this enables them to invest in long-term and short-term goals, recover from setbacks and gain confidence in their financial future.
For more than 15 years the World Bank and CGAP have stood alongside Queen Máxima in her work for the UN, initially on promoting global access to financial services and now also on financial health. Today, more than 76% of adults have access to a payment account and improved access to safe savings products, insurance, affordable loans and pension accrual (Global Findex, 2021). But access alone is not enough. Financial services must be designed with an eye to people’s needs, and they must contribute to better financial health. This is the objective of the work performed by Queen Máxima and her partners.
Before the fireside chat, Queen Máxima will speak with organisations that work with CGAP to develop activities for financial inclusion that strengthen the economic development and financial health of households, promote resilience and encourage inclusive economic development.
Government Information Service, no. 161