Vanel Beuns’ Post

Well done Inter-American Development Bank. Getting the unbanked closer to the financial system must be a national priority. At The Belize Bank Limited Financial Inclusion initiatives drive our strategy. #financialinclusionmeansyoutoo

Important discussion

Chispas! 🙀 In LATAM, and particularly in Mexico, financial inclusion rates are VERY low... this study mentioned in El Economista, performed by the Inter-American Development Bank shows how bad the situation looks: - In a developed economy 3% of adults dont have access to financial services - In Latam, it's 26% 😢 - In Mexico 🇲🇽.... it's 51% 🙀 😭 At Ximple, we are committed to change this, and we have made it our mission to break the cycle of perpetual financial exclusion in Latin America!

Reposting with a “new and improved” look…😉…SWFs can be a powerful tool for financial support, fiscal responsibility and economic growth for a country, if handled with care and with the proper governance pillars in place… #sovereignwealthfunds

Mastercard Foundation & Kifiya Launch $100M SAFEE Program to Boost MSME Financing in Ethiopia 🌱💼 The Mastercard Foundation and Kifiya Financial Technology PLC have teamed up to introduce the Sustainable Access to Finance to Enable Entrepreneurship (SAFEE) program, backed by a substantial $100 million investment. This initiative aims to revolutionize access to uncollateralized financial credit for micro, small, and medium enterprises (MSMEs) across Ethiopia. With a goal of mobilizing an additional $300 million from six Ethiopian banks, SAFEE seeks to empower over 477,800 MSMEs and facilitate mobile device financing for 425,000 young women. Over the span of five years, the program aims to generate job opportunities for 2.18 million youths, particularly focusing on women, and provide credit access to 3.65 million young individuals. Notably, SAFEE prioritizes supporting vulnerable groups, including women, persons with disabilities, refugees, and internally displaced persons (IDPs). Employing cutting-edge AI-driven credit scoring mechanisms, SAFEE will revolutionize traditional collateral requirements, making loans more accessible and affordable. By facilitating the transition from collateral-based to credit-score-based lending, the program paves the way for broader financial inclusion, fostering economic growth and empowerment. The program's unveiling at the "Startup Ethiopia" event underscores its alignment with the Mastercard Foundation's broader commitment of $672 million to enhance financial access in Ethiopia. #SAFEE #MastercardFoundation #Kifiya #FinancialInclusion #Ethiopia #MSMEs #DigitalCredit #YouthEmpowerment #WomenInFinance

Congrats to IDB Invest and the Fundación Microfinanzas BBVA. IDB Invest and BBVA’s Banco de Ahorro y Credito Adopem S.A. announced the signing of an agreement for the issuance of a 5-year Gender bond to support women-owned small and medium enterprises (WSMEs) in the #DominicanRepublic. The planned Dominican peso 15 million private placement issuance is pending regulatory approval. The latest of multiple Gender bonds supported or sponsored by IDB Invest, the private sector arm of the Inter-American Development Bank, the issuance will serve as a good example of the structures employed by these instruments. The bond will be supported by the Women Entrepreneurs Finance Initiative (We-Fi), a development finance multi-stakeholder initiative that provides support for financial products focused on women entrepreneurs. The project will include an incentive for Banco Adopem to achieve annual goals for the number of overall WSME clients, as well as the number from migrant communities. IDB Invest has stated its intent for the issuance to be aligned with the Social Bond Principles of the ICMA - International Capital Market Association, and it will provide support to Banco Adopem in securing a second-party opinion. IDB #GenderBonds #GenderLensInvesting #WSMEs Mercedes Canalda Milagros Rivas Saiz Fabio Jose Fagundes Marisela Alvarenga Aitor Ezcurra Katharina Falkner-Olmedo BBVA Javier M. Flores Moreno Gema Sacristan

💡 Italy's Personal Debt Reaches Record Highs 🇮🇹📊 Did you know that the average personal debt in Italy has now surpassed €29,000 per capita? This is a 13.6% increase in just four years! Italy's debt levels are now higher than in Spain and Portugal, raising important questions about financial habits and economic stability. 🔎 Discover more insights from the latest study by Go Bravo Italia, including differences in debt patterns by age and gender. 👉 Click the link to read the full report and explore the data: https://lnkd.in/dmR7Rzmu #Finance #DebtManagement #Italy #GoBravoItalia #EconomicTrends

Take a look at the just released 2024 Aid Transparency Index https://lnkd.in/dNsxwj_F ☑ In 2024 the average score across all organizations (50 assessed in the report) was the highest recorded so far: this is very good news! ☑ Evidence shows that by promoting #transparency public agencies contribute to increasing public support to foreign aid; 🎉 Very proud to share that Inter-American Development Bank ranked second! At #IDB Group accountability is key and we are committed to keep pushing for it! #IDBImpact+

How can microfinance institutions navigate the challenges of a VUCA (Volatile, Uncertain, Complex & Ambiguous) world and better assist vulnerable categories?   At the European Microfinance Network conference in Bucharest last week, Dan Cojocaru (Banca Transilvania BT Mic | STUP), Jaime Durán Navarro (European Commission), Iliuta Jitaru (Patria Credit), Vlad Mihut (ROMCOM), Silke Mueffelmann (Frankfurt School of Finance & Management) and or CEO Peter Surek delved into this topic, focusing on the Romanian microfinance sector.   Main messages of Peter Surek: ➡️ Microfinance institutions need to diligently measure and effectively communicate the social impact of their activities. ➡️ There's a call to explore new impact areas like education and housing, leveraging microfinance tools to address these social issues. ➡️ Collaboration with public, non-profit, and corporate sectors is crucial. By designing specific initiatives through public-private-social partnerships, we can unlock the sector's development potential.   #Microfinance #SocialImpact #FinancialInclusion #VUCAWorld   📷: Erste Social Finance Holding

Hello LinkedIn Community! 🌐💼 Let's explore the recent strides in Tunisia's financial landscape with a focus on the government-approved project aimed at combating financial exclusion. 🇹🇳💰 Key Points: Legislative Initiative: A comprehensive project, consisting of 28 articles, has been greenlit by the government and is currently under scrutiny by the Parliament's Finance and Budget Committee. The legislation is designed to address and combat financial exclusion, a pivotal step in fortifying the legal and institutional framework. Empowering the Marginalized: The primary objective is to empower marginalized groups, including those with low incomes, persons with disabilities, and micro-enterprises, ensuring their access to the banking system and its array of products and services. Four Pillars of the Legislation: The legislation revolves around four key pillars:Facilitating Access and Usage of Financial Products and Services: Aiming to break barriers for the disadvantaged to seamlessly access and utilize financial offerings. Enhancing the Oversight Role of Financial Sector Regulatory Authorities: Strengthening the supervisory functions over financial entities, encompassing banks, microfinance, and insurance sectors. Safeguarding Financial Consumers and Promoting Financial Literacy: Focusing on supporting and educating clients of financial institutions, emphasizing the importance of consumer protection. Streamlining Cash Transactions and Access to Payment Services: Rationalizing cash transactions and simplifying access to payment services, potentially reducing reliance on physical currency. Inclusive Financial Landscape: This legislative endeavor aligns with broader efforts to create an inclusive financial landscape, breaking down barriers and fostering economic participation for all segments of society. Parliamentary Review Process: The project is currently in the hands of the Parliament's Finance and Budget Committee, undergoing thorough examination and discussion, ensuring a comprehensive and well-informed decision-making process. Stay tuned for more updates on this significant legislative move, shaping the financial inclusion landscape in Tunisia! 🌍💡 #FinancialInclusion #Legislation #TunisiaFinance #InclusiveEconomy