H.M. Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA), traveled to Rio de Janeiro, Brazil to participate in the Third Plenary of the G20 Global Partnership for Financial Inclusion (GPFI) in a special high-level discussion forum, “Accelerating Progress at the Last Mile of Financial Inclusion for Financial Wellbeing” on 27 September 2024.
This was her first official appearance as the UNSGSA for Financial Health. On 25 September 2024 at the 79th General Assembly of the United Nations in New York, she was appointed to this new role by Secretary-General Guterres. It is an evolution of her work as the Special Advocate for Inclusive Finance for Development, a role she held since September 2009.
During the G20 GPFI meeting, UNSGSA Queen Máxima participated in a fireside chat with Renato Dias de Brito Gomes, Deputy Governor of Licensing and Resolution at Banco Central do Brasil, on the relationship between financial inclusion and financial health, which she defines as being able to manage day-to-day finances, build resilience to financial shocks, plan for the future, and feel confident about one’s financial life.
Financial inclusion is not just about opening bank accounts or increasing the use of financial services, she explained, it is about enhancing people’s lives. This is why, as countries continue to expand financial access and service usage, it is essential that the concept of financial health is integrated from the beginning. By aiming for financial health as we work to expand access and usage, she said, we can develop more effective and impactful strategies for financial inclusion.
The fireside chat was followed by discussions with GPFI members and implementing partners on current initiatives and fundamental elements that contribute to financial health. In addition, she held meetings with important partners, including the GPFI Co-Chairs and incoming Troika and OECD. Brazil is the 2024 G20 President and was the host of this forum. Queen Máxima last visited Brazil in 2023 as the Special Advocate for Inclusive Finance for Development. Financial health was also part of the program at the time.
Queen Máxima has been the Honorary Patron of the G20 GPFI on behalf of the United Nations since 2011. In this role, she is committed to, among other things, advancing the activities of the G20 in the area of inclusive finance. In her new role as the UN Secretary-General’s Special Advocate for Financial Health, she will continue to encourage G20 Member States to develop new initiatives in financial inclusion with financial health as the desired outcome.