Proyecto Capital is a multi-country initiative working towards the financial inclusion of millions of individuals, with a particular focus on innovating around conditional cash transfers (CCT) and other social protection systems. Currently active in 12 countries, Proyecto Capital works hand in hand with governments, cooperation agencies, regulatory bodies, financial institutions and other public and private sector partners to promote, design and support the implementation of policies and programs that connect financial inclusion to social protection systems. Together, these activities help millions of formerly excluded individuals to not only access the formal financial system but to do so in appropriate and sustainable ways that help them build a future on their own terms.
For CCTs, this work has taken the form of helping governments and institutions to make CCT payments via savings accounts or mobile wallets that are linked to regulated financial institutions. This requires not only working with governments to create and adapt policy but also with financial systems to develop and promote fintech and mobile banking products accessible to CCT recipients, with program participants themselves on the effective use of these products. They benefit from improved security and ease in savings, while governments see more secure, transparent and efficient systems, and financial institutions find ways to reach a new client base.
For ten years Proyecto Capital has helped financial inclusion and capacity building become public policy, through its support to governments in the development of regulatory frameworks, it’s design and piloting of innovative programs, and it’s work to bring together partners from across sectors to understand and meet the needs of the most vulnerable populations.
2008 – Colombia (Más Familias en Acción); Peru
2009 – Chile
2011 – Bolivia; Ecuador; Paraguay
2012 – Brazil; El Salvador; Guatemala; Dominican Republic
2013 – Colombia (Víctimas)
2014 – Honduras
2015 – Mexico
2016 – (initial activities in) Haiti; Argentina; Costa Rica; Uruguay
- Public policy development. Technical assistance for the design, implementation, monitoring and evaluation of public policies for financial inclusion of people living in poverty, with special attention given to the development of National Financial Inclusion Strategies (NFIS); policy frameworks that promote financial inclusion within social protection systems and regulations that facilitate access to financial services for low income populations.
- Stimulation of demand. Development of the financial capabilities of vulnerable populations, which enable autonomous and informed decision making.
- Improvement of available products. Advice and design of financial products that respond to the needs of the population, and of mechanisms that help monitor the quality of customer service.
- Knowledge management and exchange of experiences between regional policymakers and/or regulatory or financial institutions.
- Co-creation with governments, private sector, and end users of policies, tools and products that advance financial savings and capabilities for participants of conditional cash transfer programs.
Proyecto Capital is recognized in Latin America and the Caribbean as a leader in financial inclusion and education for people in the base of the pyramid, including. The following are statistics related to the scope of PK in the region:
- 21 cooperation agreements signed with governments and social protection programs in Latin America and the Caribbean.
- 17 cooperation agreements signed with regulated financial institutions.
- 12 million+ CCT participants receive transfers in savings accounts or mobile wallets.
- 1.8 million people have strengthened their financial capabilities through on-site and digital financial education, mass media such as radio and video, local savings groups and other alternative methods such as theater productions.