The European Commission and the Organization of African, Caribbean and Pacific States (OACPS) today signed a new 14.5 million euro initiative with the United Nations Capital Development Fund (UNCDF) to help the potential of digital finance 600,000 in African, Caribbean and Pacific countries Women, youth and entrepreneurs. 

“Nowadays, digital technology plays an important role more than ever. It can increase access to and use of affordable financial products and services to meet the needs of people and businesses and accelerate the recovery of the economy from the coronavirus pandemic. This is why, as reflected in our EU strategy for Africa, we hope to work with Africa to promote digital transformation, which will also help us to close the digital gender gap.” said Jutta Urpilainen, Commissioner for International Partnerships. 

“If we are to achieve the Sustainable Development Goals, digital solutions are essential to create more jobs and improve basic services such as health and education.” she added.

Henry Dommel, Head of Financial Inclusion at UNCDF, said: “Our response to COVID-19 in 2020 shows that the use of digital finance and infrastructure is the main factor in the resilience of society and businesses in the face of the impact of the pandemic. determining factors” . “This partnership with the European Union will use digital finance as a means to promote the response of ACP countries to the pandemic and economic recovery to the last mile.”