Ant Financial Teams Up With IFC to Launch Financial Inclusion Program

International Financial Corporation (IFC), a member of the World Bank Group, and Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, announced on Monday the launch of their new 10×1000 Tech for Inclusion program at the 2018 Annual Meetings of the International Monetary Fund and the World Bank Group.

According to the duo, this new initiative will include a comprehensive program that “embraces interactivity and the exchange of ideas” in order to provide training to 10,000 tech experts in emerging markets from both public and private sectors over the next 10 years. The program programme will seek support from local public and private sector partners in emerging markets.

“A series of Techfin workshops will be held across China and various countries. The workshops will aim to inspire tech leaders and local talent to become ‘drivers for change’ in the digital era, promoting technology inclusion and global sustainability.”

While sharing more details, Alibaba Group founder and Executive Chairman, Jack Ma, stated the program aims to build an interactive and open platform to increase support for tech leaders and skilled individuals who are working to alleviate poverty and make basic financial services more broadly accessible in Indonesia, which will be the first stop of the programme within emerging markets. Ma also explained:

“I believe that investing in people is investing for the future. Cultivating talent is one of the most significant things the Alibaba ecosystem can do. My hope is that emerging markets will benefit from the individuals that are nurtured under this new 10×1000 Tech for Inclusion programme and be able to embrace a brighter future through the digital economy.”

IFC and Ant Financial have notably partnered on initiatives to extend micro-credits to small- and women-owned businesses in China and over the past year have driven collaboration on inclusive digital finance, green digital finance and business-environment enhancement. Philippe Le Houérou, IFC CEO, added:

“Digital finance is transforming the financial landscape, creating new markets, empowering consumers and putting banking in the hands of unreached millions worldwide for the first time. The joint programme will further deepen knowledge and create new opportunities for digital financial services to expand financial access and improve lives.”

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