04 Dec LAUNCHING THE SOCIAL MICROINSURANCE OF THE STATE SECRETARY FOR CHILDREN AND ADOLESCENTS
The initiative is part of the National Financial Inclusion Strategy from the Government of Paraguay, and the SSCA is responsible for incorporating children and adolescents in vulnerable situations, as well as their families, to the program. 10,474 children and adolescents aged 0 to 17 will be covered for a total of 3,281 families, all of them beneficiaries of the Abrazo program.
Fundación Capital has worked for many years with the State Secretary for Children and Adolescents of Paraguay in the component Abrazo Kyre’ from the Abrazo program. Through this component we designed contents and financial education workshops aimed at strengthening the socio economic support for the families of the program. We created a strategy for generating income based on building capacities for employment and entrepreneurship. We also supported the implementation of the social microinsurance for the beneficiaries of the program.
We believe in financial products which, like this microinsurance, can widen the financial protection of the people and improve risk management and thus improve their quality of life and that of their families. This product is a particularly special example, because it focuses specifically on children and adolescents.