## Financial Development and Financial Inclusion

## Source details

**Canonical URL:** [Financial Development and Financial Inclusion](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2024/fdfixol24-106)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ol/2024/fdfixol24-106/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/ol/2024/fdfixol24-106/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/ol/2024/fdfixol24-106/bundle-manifest.json)

## Bibliographic details
- Session: OL 24.106
- Location: Course conducted online
- Dates: January 1, 2024 - April 15, 2024 (15 weeks)
- Delivery method: Online Training
- Primary language: English
- Status: Deadline passed

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### Target audience and logistics
- Target audience: Mid-level to senior officials from central banks and government agencies dealing with regulation of the financial sector.
- Session No.: OL 24.106
- Deadline passed
- Location: Course conducted online
- Date: January 1, 2024 - April 15, 2024 (15 weeks)
- Delivery Method: Online Training
- Primary Language: English
- Presented by the Institute for Capacity Development.

### Qualifications and technical prerequisites
- Expected knowledge: basic knowledge of economics or finance.
- Helpful but not required: Knowledge of econometrics.
- Essential technical skills and equipment:
  - Basic Microsoft Excel skills.
  - Access to a computer with a reliable Internet connection and a Google Chrome web browserare essential.

### Course description — analytical scope and focus
- Outlines the macroeconomic relevance of financial development and financial inclusion.
- Begins with an analytical framework that defines the role of finance in the economy.
- Reviews the conceptual and empirical literature on the impact of finance on macroeconomic performance and growth.
- Addresses key policy issues to:
  - Encourage financial development (market-enabling policies).
  - Limit financial development’s potential destabilizing effects (market-harnessing policies).
- Introduces financial inclusion as an integral dimension of financial development, noting that the discussion historically revolved around the concept and measure of financial depth.
- Reviews:
  - Indicators currently used to measure financial inclusion.
  - The distinct macroeconomic impact of financial inclusion.
  - The main policy strategies that have been pursued.

### Course objectives (learning outcomes)
- Identify a framework for financial market development and financial inclusion, and why they matter for economic growth and development.
- Measure the degree of financial development and inclusion for a country or countries using a wide range of standard indicators and use benchmarking to compare a country to its peers.
- Identify strategies and policies to support the development of financial intermediaries and capital markets in a country, considering initial conditions and links between the financial sector and the macroeconomy.
- Understand the unique challenges SMEs face accessing finance; describe how financial intermediaries can better tailor their products to the needs of the SMEs.
- Provide standard methodologies for managing risks associated with SME lending; evaluate how government policies can improve the lending environment for SMEs and understand the role of state banks and MDBs, including their role in mitigating risks.
- Evaluate the benefits and costs of different financial inclusion policies and identify strategies to promote financial inclusion for households and micro-enterprises.
- Understand various uses of technology in the financial sector (Fintech) and how they could be used to improve the efficiency and inclusiveness of financial services without generating financial instability.

### Key policy themes and areas of instruction
- Market-enabling policies to foster financial development.
- Market-harnessing policies to contain destabilizing risks from financial development.
- Measurement and benchmarking of financial development and financial inclusion indicators.
- SME finance: product tailoring, risk management, and the role of public institutions (state banks and MDBs).
- Financial inclusion policy trade-offs: benefits and costs for households and micro-enterprises.
- Fintech applications: improving efficiency and inclusiveness while managing financial stability risks.

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## References

- [Online Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2024/fdfixol24-106_