Country
Colombia

Local Project Partner
Humanity & lnclusion (HI)

German Project Partner
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Donor
Humanity & lnclusion (HI) / Agence Française de Développement (AFD)

Duration
30.06.2023 - 31.03.2024

Approximately 7 million refugees and migrants have left Venezuela as a result of political tensions, socioeconomic instability and the humanitarian crisis in this country. A large number of them have settled in neighboring Colombia and Peru. For financial institutions it is necessary to understand the requirements involved in developing inclusive financial products for migrants. These requirements must be analyzed from an integral perspective, involving operational, financial or technological aspects. The project will be developed in Bogota, Medellin and Barranquilla where it is expected to impact 2000 beneficiaries, of which 55 % women and 15 % people with disabilities, 50 financial service agents, 9 civil society organizations and members of local authorities on migration issues and socioeconomic integration of the population.

The project aims to contribute to improving the financial inclusion of vulnerable migrants in Colombia, of which women in particular. This will be achieved by creating an innovative financial dynamic based on digital innovation, networking and advocacy.

Services provided
The three general objectives of the project are:
1) Strengthen capacities and access to financial services: Migrants improve their knowledge and financial management skills and have access to financial services, especially women and people with disabilities.
2) Take advantage of opportunities related to serving the migrant population: Financial service providers are strengthened and have developed/adapted innovative mechanisms to serve this population.
3) Promote the exchange of learning among the actors of the financial inclusion ecosystem: The participants of the ecosystem know diverse work experiences and build on what has been built.