Financial inclusion and literacy

We promote access to and use of high-quality financial products and services to bridge gaps in financial inclusion and education for MSMEs and underserved segments of the population in Latin America and the Caribbean. Our objective is to positively impact their financial well-being. 

Financial Inclusion: A Key Driver of Development

Ample evidence highlights the relationship between financial inclusion and:

Reducing inequality gaps

Increasing productivity

Enhancing economic well-being

Alleviating poverty

Financial inclusion is a multidimensional issue encompassing both supply and demand aspects:​

ACCESS

The extent to which new financial consumers or underserved individuals can obtain suitable financial products and services at affordable prices.

 

USE

The frequency and consistency of utilizing appropriate financial services.

QUALITY

The extent to which financial services meet customer needs.

 

 

FINANCIAL WELL-BEING

The ability to manage financial stability, achieve financial goals, and build savings for contingencies.

 

CAF’s Commitment to Financial Inclusion

CAF mobilizes financial resources and provides technical assistance to MSMEs and underserved populations, addressing financial inclusion gaps. Beyond expanding access to financial services, CAF ensures their sustained use, quality, and relevance to the needs of MSMEs and vulnerable groups in Latin America and the Caribbean.

CAF has collaborated with over 50 regulatory and supervisory institutions, more than 45 financial institutions, and 10+ financial associations. Our efforts span regulatory and policy frameworks, financing solutions, and human capital development to meet the needs of millions of individuals and small businesses excluded from the financial system. Through strategic partnerships and initiatives, we reshape the financial landscape of Latin America and the Caribbean by designing and implementing public policies and regulations, generating and disseminating financial knowledge, promoting financial education and gender-inclusive initiatives, partnering with financial institutions to support MSMEs and developing innovative financial products.

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Impact Figures

+ 27.3 million

people benefited from financial literacy initiatives

+ 18.9 million

people benefited from financial inclusion projects

8 million

MSMEs benefited from financial inclusion programs

45

ongoing technical cooperation projects

25

projects with a gender focus

+ 6.9 millon

women benefited from gender-focused financial inclusion and literacy programs

$ USD 6.735 billion

lent to MSMEs since 2019

+ 400,000 ​

MSMEs financed through credit transactions

$ USD 825 million

in microloans for micro-entrepreneurs

50

winning FinTech companies received guidance through CAF’s Financial Inclusion Laboratory

+ 14 millon

people impacted by the winners of the Financial Inclusion Laboratory.

+ 930,000

MSMEs impacted by the winners of the Financial Inclusion Laboratory

Areas of Action

  • Public Policy and Regulation
  • Knowledge Generation and Dissemination
  • Financial Literacy
  • Financial Inclusion with a Gender Focus
  • Financial Inclusion Laboratory
  • Innovative Financial Products
  • Partnerships with Financial Institutions for the Inclusion of MSMEs

Public Policy and Regulation

 

Public policies and regulatory frameworks play a crucial role in the development of financial systems. Through technical cooperation programs and public-private partnerships, CAF seeks to contribute to the design and implementation of public policies or national strategies for financial inclusion and education, as well as regulatory frameworks that respond to Latin American and Caribbean realities, protecting users and promoting the development of new financial products.

CAF has supported more than 17 public institutions in 10 countries in the design and evaluation of policies focused on financial inclusion and education.

 

 

 

Featured Projects:

Knowledge Generation and Dissemination

At CAF, we are committed to generating and disseminating knowledge that promotes sustainable development in the region. We have conducted the financial capabilities survey in several Latin American and Caribbean countries according to OECD/INFE guidelines, providing valuable data to understand and improve the financial education of our communities. Additionally, we conduct studies and research that are regularly published, addressing crucial topics such as financial inclusion and education, and financial well-being.

  • 17 national Financial Capabilities surveys in 11 countries in the region
  • Over 120 research and dissemination publications
  • More than 50 blogs
  • Participation in webinars and dissemination events

 

Access our interactive financial capabilities data viewer

Read our publications on financial literacy and financial inclusion

Read our blogs on financial inclusion

Discover CAF's financial inclusion playlist

 

 

Featured Projects

 

VISIT OUR INTERACTIVE FINANCIAL CAPABILITIES DATA VIEWER

 

Financial Literacy

 

CAF recognizes financial literacy as a key tool for economic and social development. Therefore, we implement various initiatives, such as training workshops, studies and research, collaboration with institutions, and the production of educational resources, to improve the financial capabilities of individuals and communities in the region.

  • 5 editions of the Diploma in Financial Inclusion, as well as 3 exclusive editions for Ecuador.
  • 3 editions of the Financial Education MOOC.
  • More than 1,000 participants.

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Vulnerable Populations

  • The financial well-being of the population of the predominantly rural and Quechua-speaking department of Ayacucho, Peru, has been improved through the promotion and evaluation of the UNICAs program in 1,514 inhabitants of the region. This program, driven by COFIDE through PRIDER, allows participation in credit and savings unions for more than 20,000 PRIDER beneficiaries throughout Peru and the 24,000 inhabitants of the Ayacucho department.  
  • Through the Mayores Activos platform of the Banco de la Nación Argentina, financial education and management services are offered to more than 7 million older adults in Argentina. 

 

Featured Projects

 

  • CAF has supported COFIDE in developing the Mi Yunta Financiero app to help its clients improve their financial education and adopt better financial behaviors related to savings. 

Financial Inclusion with a Gender Focus

Closing the gaps in women's financial inclusion is a crucial part of CAF's financial inclusion strategy for the region. CAF works to reduce these gaps through financial education and the development of financial products tailored to women's needs. These actions aim to foster sustainable and equitable development in the countries of the region.

  • Around 2,600,000 women benefited from the design of gender-focused products.
  • More than 21,000 micro-entrepreneurs have received microcredits.
  • 25 technical cooperation projects since 2019 focused on women's financial inclusion in the region. These include the design of regulations, financial education initiatives, and the design of products and services, among others.

 

 

 

 

Featured Projects

  • CAF supported INAMU of Costa Rica in: (i) developing public policies in coordination with entities such as the Central Bank, Superintendency of Banks, Ministry of Economy, (ii) a pilot program with 3 financial institutions to implement the guidelines, and (iii) a guide to enable INAMU to manage technical assistance to financial institutions. 
  • Support to the Peruvian Federation of Municipal Savings and Credit Banks in developing the gender cooperative policy of Peru's savings and credit system through two components: gender policy within cooperatives, and development of new products: savings, insurance, and credits. 

Financial Inclusion Laboratory

The CAF Financial Inclusion Laboratory aims to support projects and initiatives with a high degree of innovation and that incorporate technological elements to address the need to reduce the gap between the unbanked and the banked population, as well as to promote the use and quality of financial products and services. 

  • 50 Winning FinTechs 
  • More than 14 million people benefited - More than 930,000 MSMEs benefited 

 

 

 

Innovative Financial Products

CAF promotes financial inclusion through innovative products such as digital microcredit, alternative credit evaluation models, inclusive savings accounts, digital payments platforms and parametric insurance. CAF also supports investments in infrastructure and FinTech projects that seek to improve connectivity and facilitate financial inclusion. 

 

It is estimated that around 6.8 million people have benefited from the use of these products. 

It is estimated that more than 7.1 million MSMEs have benefited from the use of these products. 

 

  • CAF and FEPCMAC signed an agreement to analyze and design the necessary components for municipal savings banks in rural areas to offer 100% digital working capital loans, with the objective of accelerating the digitalization of the financial sector and facilitating access to credit for MSMEs in underserved areas of rural Peru. 
  • CAF has supported ANIF in the design of innovative financial products for MSMEs in Colombia, promoting the creation and development of financial services based on data from the “Small Firm Diaries” study and new data generated using a digital platform. This support has made it possible to identify and meet the needs and behaviors of MSMEs, improving their access to financing and promoting their growth and productivity. 
  • Together with Andean microfinance institutions, CAF developed a tool to strengthen environmental and social risk management systems (ESRMS) in banks and regulators. This tool offers training to create financial products in green business and energy efficiency, as well as contributes to climate risk management in Latin American financial institutions, facilitating its monitoring and reporting. 

Partnerships with Financial Institutions for the Inclusion of MSMEs

CAF grants lines of credit to development financial institutions and private commercial banks to finance MSMEs. It also offers partial guarantees for MSMEs, sharing the risk with financial intermediaries and complementing national guarantee systems. These initiatives have a positive impact on the employment and production of MSMEs, with the objective of increasing their productivity and strengthening regional productivity.

  • It is estimated that each MSME that benefits from a CAF credit line would have created 13 new jobs.
  • Since 2019, more than 410.000 MSMEs have been financed through CAF lines of credit.
  • More than USD 6,2 Billion has been paid through these lines of credit.

 

 

 

 

 

Featured projects

Featured news

Featured events

Calls

Imagen destacada del post

Financial inclusion and literacy, Argentina, Bolivia, Brazil, Chile

September 02, 2024 - September 02, 2024

Imagen destacada del post

Financial inclusion and literacy, Argentina, Bolivia, Brazil, Chile

August 29, 2023 - August 29, 2023

Imagen destacada del post

Financial inclusion and literacy, Argentina, Bolivia, Brazil, Chile

July 25, 2022 - July 25, 2022

Imagen destacada del post

Financial inclusion and literacy, Uruguay, Paraguay, Chile, Argentina

August 03, 2021 - August 03, 2021

Imagen destacada del post

Financial inclusion and literacy, Financial capabilities

October 05, 2020 - October 05, 2020

Videos

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Publications

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