The UK will contribute £15 million to a World Bank initiative designed to help some of the world’s poorest people have better access to essential services such as healthcare and banking, the Chancellor announced on 17 July as part of a meeting of G7 Finance Ministers in France.
It is estimated that a billion people worldwide, mostly women and children in rural areas in Africa and South Asia, are without an officially-recognized identity. Having a legal proof of identity is vital for accessing essential services such as healthcare, education, and finance. But paper-based systems can be slow and inefficient, especially in countries without existing infrastructure. New digital technologies could help people in developing countries better access the benefits of the digital revolution.
Although many countries have agreed to back the Identification for Development Initiative (ID4D), the UK will be one of the first countries to provide aid, alongside Australia, the Bill and Melinda Gates Foundation, and the Omidyar Network.
The Chancellor’s announcement marks the start of a two-day trip to Chantilly, France to discuss the opportunities and challenges posed by the digitalisation of the world economy, at a meeting of G7 Finance Ministers and Central Bank Governors. During the meeting the Chancellor is expected to continue to push for a global agreement on the future of the international corporate tax framework, in response to digitalisation. He will also meet with his international counterparts.
During the meeting, Melinda Gates will present a report to G7 Finance Ministers, on behalf of the Bill and Melinda Gates Foundation, and call for action to boost women’s digital financial inclusion in Africa, contributing to the elimination of the global gender gap in financial services usage by 2030.
Original source: DFID
Published on 17 July 2019
