PROYECTO CAPITAL PARAGUAY - Fundación Capital
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PROYECTO CAPITAL PARAGUAY

In Paraguay we are working with state officials and families participating in the government conditional cash transfer programs Tekoporã and Abrazo, run by the Secretariat of Social Action and the Secretariat of Childhood and Adolescence, respectively, with the goal of developing and implementing new financial products and an inclusive financial education strategy.

 


To date, 1,000 government officials and more than 100,000 families have received training in topics pertaining to savings accounts, debit card use, electronic wallets, saving, family budgeting, debt management and business profiles. In our efforts to develop family capabilities, we have combined in-person workshops and printed materials with other more innovative formats such as radio advertisements and the theater production “A Ahorrar” (Let’s Save).

 

We are also spearheading the National Financial Education Campaign within the framework of the working group on Vulnerable Populations, part of the National Strategy for Financial Education (Spanish acronym ENIF). Work has involved the collaborative design of the educational campaign Más Vale Saber (Better to Know), focused on the proper use of financial tools to build participant confidence and promote conscious and informed decision making.

 

Within the framework of the ENIF, additional work carried out as part of the insurance roundtable and involved an inclusive insurance product developed specifically for Tekoporã and Abrazo participants in conjunction with participating insurance companies, government social programs and the regulatory body. We also collaborated with insurance companies and the regulatory body to design an education strategy on microinsurance.

 

Countries of implementation: Paraguay
 
Target population:
Women, Youth, Rural population, People living in poverty, People living in extreme poverty
 

Objective:

Financial inclusion among participants of social programs that make conditional cash transfers.

 

Methodology:

Advocacy for the development of products that meet demand (insurance, basic accounts, etc.). Inclusive design for the creation of basic savings accounts and for use of electronic wallets. Awareness-raising among program staff and payment institutions. Support and guidance for project implementation activities such as conferences, workshops, etc. Participation in the meetings of the ENIF sub-working group on microinsurance, alongside attendees SAS, the Superintendency of Insurance of the Central Bank, SNNA and insurance companies.
 

Use of interactive methodologies and “pocket education” (a format designed as a quick and easy way to understand how finances work and how to manage them) as a way for people to improve understanding, develop abilities and confidence and make informed decisions.
 

Results:

  • More than 1,000 government officials trained in topics pertaining to savings accounts, debit card use, electronic wallets, saving, family budgeting, debt management and business profiles.
  • More than 100,000 CCT recipients trained in topics pertaining to savings accounts, debit card use, electronic wallets, saving, family budgeting, debt management and business profiles.
  • Awareness raised among more than 150 officials of the Banco Nacional de Fomento about financial inclusion for vulnerable populations.

In addition, 17,000 participants of social programs (Tekopora and Abrazo) are expected to be trained in topics pertaining to insurance, microinsurance and the use of a microinsurance product.
 

Key partners: Secretariat of Social Action, Secretariat of Childhood and Adolescence, Banco Nacional de Fomento, EMPES, Association of Banks, Association of Financial Institutions