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Reserve Bank of Vanuatu 4 VANUATU NATIONAL FINANCIAL INCLUSION STRATEGY 2018 - 2023 RESERVE BANK OF VANUATU 4. 4V.isiVoins,ioMn,isMsioisnsioanndanOdbjOecbtjievcetsives 4.1 4.1Vision Vision CreateCreate an enabling an enabling environment environment for enrichingfor enriching the livelihoodsthe livelihoods of the of peoplethe people and and MSMEs MSMEs in Vanuatu in Vanuatu through through inclusiveinclusiveinclusiveinclusive financialfinancial financialfinancial services services servicesservices and and consumer andconsumerand consumerconsumer empowermentempowerment empowermentempowerment andand protection.andprotection.and protection.protection. 4.2 4.2Mission Mission By 2023,By 2023, Ensure Ensurean additionalan additional 54,000 54,000 (total (total of 130,000) of 130,000) adults adultswill bewill active be active users users of formal of formal or semi or semi-formal-formal financialfinancial services, services, of which of which 50% 50% will bewill women. be women. Ensure Ensure 40% 40%of the of financiallythe financially included included will bewill active be active users. ususers.5ers. 5 Ensure Ensure a suite a suite of MSME of MSME business business financing financing products products are available, are available, which which are tailored are tailored also alsoto the to needsthe needs of businessesof businesses led by led women by women and youthand youth 4.34.3 Objectives Objectives 4.3.14.3.1To facilitateTo facilitate an enabling an enabling regulatory regulatory and andsupervisory supervisory environment environment for providersfor providers and andusers users of financial of financial services.services. 4.3.24.3.2To enableTo enable the peoplethe people and MSMEsand MSMEs in Vanuatu in Vanuatu to have to have access access to a torange a range of appropriate of appropriate and sustainableand sustainable financialfinancial services services at an at affordable an affordable cost. cost. 4.3.34.3.3To fosterTo foster financial financial inclusion inclusion deepening deepening and andresilience resilience via increasedvia increased and andregular regular usage usage of financial of financial services.services. 4.3.44.3.4To strengthenTo strengthen the financialthe financial competencies competencies of the of peoplethe people of Vanuatu of Vanuatu to enable to enable better better informed informed financial financial decisiondecision making making together together with with the optimalthe optimal use ofuse financial of financial services services to better to better their their livelihoods. livelihoods. 4.3.54.3.5 To facilitate To facilitate consumer consumer protection protection of consumers of consumers of financial of financial services services and and for MSME for MSME finance finance 4.3.64.3.6To useTo usea multi a multi-stakeholder-stakeholder and andmulti multi-sector-sector approach approach to enable to enable a concerted a concerted and andcomprehensive comprehensive nationalnational approach approach to addressing to addressing financial financial exclusion. exclusion. 4.3.74.3.7To promoteTo promote the developmentthe development in the in MSMEthe MSME sector sector to improve to improve financial financial users’ users’ income income 5 Active55 Active users users conduct conduct at least at leastone transactionone transaction within within a 90 daya 90 period. day period. 22 | 22Page| Page ForewordForeword ItForewordIt isis aa pleasurepleasure toto presentpresent thisthis reportreport ofof thethe firstfirst ever,ever, nationwidenationwide surveysurvey conductedconducted onon Micro,Micro, SmallSmall andand MediumMedium--SizedSized EnterprisesEnterprises (MSMEs)(MSMEs) byby thethe RBVRBV asas partpart ofof itsits financialfinancial inclusioninclusion agendaItagenda is a pleasure inin Vanuatu.Vanuatu. to present LetLet meme this statestate report atat thethe of outsetoutset the first thatthat ever, thethe lacklacknationwide ofof pastpast surveyssurveysurveys conducted onon aa nationalnational on Micro,scale,scale, Small andand comprehensiveMediumcomprehensive-Sized Enterprisesdatabasedatabase onon (MSMEs) MSMEsMSMEs by inin VanuatuVanuatuthe RBV ,,as posedposed part challengesofchallenges its financial inin thethe inclusion initialinitial surveysurveyagenda designdesign in Vanuatu. andLetand me thethe state conductconduct at the ofof outset thethe surveysurvey that the itself.itself. lack II ofamam past proudproud surveys wewe overcoverc on a ameamenational thosethose scale, challengeschallenges and comprehensive andand areare ableable database toto ponpresentresent MSMEs inin thisthisin Vanuatu report,report, , importantimportantposed challenges findingsfindings inwhichwhich the initial willwill serveserve survey asas design inputinput to toand formulatingformulating the conduct ourour of mediummedium the survey toto itself. longIlong Famor-- etermtermproudwo rpoliciespoliciesd we overc onon ameSSMEsMEs those asas partpart challenges ofof thethe financialfinancial and are inclusioninclusion able to agenda agendapresent ininin VanuatuVanuatuthis report,.. 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