1. It's safe.
2. It's private.
3. It empowers women.
4. It reduces women's vulnerability.
5. It improves the quality of women's consumption.
6. It lets people anticipate expenses.
7. It allows for cash-flow management.
8. Zero cost.
9. It is divisible.
10. It reaches a large number of people.
11. It offers a direct channel.
Linking a conditional cash transfer program with a program that promotes inclusion in the financial system gives beneficiaries a cash-flow management tool that leads to higher-quality consumption, facilitates investment in human capital and raises their self-esteem.
- In Short 30: Country Assessment-Paraguay
- In Short 29: Case study of a pilot savings experience in Colombia
- In Short 28: Assesment of conditional transfer programs and aspects related to the financial system in Dominican Republic
- Information and Resources about Financial Education
- Information and Resources about the Conditional Cash Transfers
Capital Project in Peru
As part of our work in Peru with the conditional cash transfer (CCT) program JUNTOS, the Bank of the Nation, Agro Rural and the Technical Secretariat of the Office of the President of the Council of Ministers’ Inter-Ministerial Commission on Social Affairs, we seek to integrate the beneficiaries of the CCT program into the financial system.
Since October 2009, raffles of food baskets (incentives) have been held in the districts of Coporaque and San Jerónimo, where the pilot project, “Promoting savings with beneficiaries of JUNTOS,” is under way. This responds to our goal of accompanying sectors of the population in implementing models to include poor people in the financial system and help them gain access to capital by opening and periodically using savings accounts. These experiences will make it possible to perfect public policies for combating poverty and exclusion.
This video shows the awards ceremony in mid-February 2010 in the district of Coporaque. Women from throughout the district attended the event in the main plaza, which gave them an incentive to keep saving.
The video also presents testimonials from women who began saving as part of the pilot project. The women stress that “saving is progress,” describe how their consumption has improved, and talk about how their savings have changed their lives.