UN Women, CABEI and COMIF promote financial inclusion in Central America

2024-10-16 23:24:00

UN Women, CABEI and COMIF promote financial inclusion in Central America

The V Central American Forum on Financial Inclusion organized by United Nations Women, he Central American Bank for Economic Integration (CABEI) and the The Commission for Financial Inclusion (COMIF), As a positive step towards the implementation of the National Strategy for Financial Inclusion (ENIF), it brings together experts and leaders from the region to promote the building of a more inclusive financial ecosystem.

Perspective Writing

The main objective of this forum is to address innovative strategies to overcome gender gaps in access to financial services, emphasizing the importance of a comprehensive approach that responds to the needs of women in Central America. This event continues the efforts started in previous forums under different themes: in 2019, Towards an analytical approach to financial inclusion; in 2020, A vital tool for economic recovery in conditions of gender equality; in 2021, Finance for all and in 2023, A transformative economic recovery.

The V Central American Forum on Financial Inclusion is presented in a global context marked by technological advances and important transformations in the financial landscape, which reinforce the need to innovate and adapt financial services to meet the changing demands of the population, especially women. In addition, it is consolidated as an essential space for dialogue and reflection on financial inclusion from a gender perspective, consolidating learning and reflection spaces aimed at promoting financial inclusion with significant social impact in Central America.

Today began the first day of the Financial Inclusion Forum V: Towards an integrated and innovative ecosystem: Central America reinforces its commitment to financial inclusion, i.e. pic.twitter.com/JsuFQQkBhR

— United Nations Women Guatemala (@onumujeresgt) October 16, 2024

This event serves as a platform for participants to exchange their experiences and best practices to reduce the gender gaps that still exist in access to capital and in the design of financial products and services adapted to the needs of women. During the sessions, innovative solutions are addressed to activate the “financial value chain”, to achieve deeper and more effective financial inclusion, allowing women to access financial resources in an equitable and sustainable way.

In Latin America, financial inclusion is still a challenge, especially for women. While 80% of them in the region have access to smartphones and mobile internet services, only 49% have a bank account, compared to 94% in OECD countries.. During this event, these differences are addressed, with the goal of designing new financial tools that respond to the needs and potential of women entrepreneurs in the region.

This event is held within the framework of the second phase of the program “Women, Local Economy and Territories – MELYT”, funded by the Italian Ministry of Foreign Affairs and International Cooperation (MAECI), through the Italian Development Cooperation Agency (AICS). , and the “Inclusive Financial Ecosystem – EFI” program, funded by the Directorate for Development Cooperation and Humanitarian Action of the Grand Duchy of Luxembourg and implemented by UN Women in El Salvador, Guatemala and Honduras.

It is carried out in collaboration with: Financial Development Agency (AFD) of Paraguay, the Alliance for Financial Inclusion (AFI), the Association of Multi-Banks of the Dominican Republic, the Latin American Association of Development Finance Institutions (ALIDE), the Bank of Guatemala (BANGUAT). ), Supervision of Banks of Guatemala (SIB), Ministry of Economy of Guatemala (MINECO), Bank of Central America (BAC), Rural Development Bank (BANRURAL) of Guatemala, Secretariat of the President for Women (SEPREM), Inter-American Development Bank (IDB) .

Also: World Bank, Center for Corporate Social Responsibility Action in Guatemala (CentraRSE), Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (CACIF), National Commission for Safe Banks of Honduras, Banco LAFISE Honduras, Center Regional Promotion of MSME (CENPROMYPE), International Finance Corporation (IFC), Frankfurt School of Finance & Management/International Advisory Services, Cóvelo Foundation of Honduras, National Institute of Women of Costa Rica, Microfinance Network of Central America and the Caribbean (REDCAMIF ), and another.

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