Additionally, more integrated banking markets contribute to intensify competition: banks, as well as other financial market participants, will have to change their strategies. More competition means that capital is allocated more efficiently. It should promote access to new funding opportunities for companies, encourage investment and thus contribute to higher economic growth.
Acknowledge PFIP’s Work I wish to acknowledge with sincere gratitude, the commitment and ongoing assistance of the Pacific Financial Inclusion Programme (PFIP), jointly implemented by the United Nations Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) to our 1/2  BIS central bankers' speeches  country and to the region that has enabled us to be at the forefront of significant developments in financial inclusion.