19 Apr FUNDACIÓN CAPITAL STARTS NEXT STEP TO STRENGTHEN RURAL COMMITTEES IN PARAGUAY
As a social organization we strive to develop new ideas and projects, to support low-income families in appreciating, increasing and protecting their financial, human and productive resources, thus promoting economic citizenship. With this mission, we are working under a technical cooperation agreement with the Korea International Cooperation Agency (KOICA) since the end of 2017 to strengthen Committees of Producers in rural areas of Paraguay.
One of the objectives to be reached with these committees is to install a savings culture. Savings are important to protect us against future and unforeseen expenses. Taking advantage of the community practice of these committees, we have promoted the creation of Savings and Investment Groups within them. This is a methodology to establish, voluntarily, groups of people who save specific amounts of money at regular intervals, having clarity in their goals.
The creation and constitution of the Savings and Investment Groups was carried out between March and April in the localities of Yhú, Guayaibi, Yrybucua and Capiibary of the departments of San Pedro and Caaguazú of Paraguay. To date, 8 Groups have been created with an average of 30 participants each. These groups meet every 15 days to contribute their savings, which they do in shares for a unit value of around USD 1.00 on average. This initiative involves around 237 rural producers who are very enthusiastic and satisfied with the methodology, which provides them with a mechanism for savings and social support.
We are very proud and satisfied, that our methodology was appreciated and welcomed in such extent and it is this overwhelmingly good sensation, that we wanted to share with you. Little by little, we get one step closer to financial inclusion.