USAID/WOCCU Economic Inclusion Project Launches Consultative Committee on the Financial Inclusion of Migrants and Refugees in Peru
Initiative announced at second of two EIP semiannual meetings in Peru and Ecuador
July 02, 2024
LIMA, Peru—The USAID/World Council of Credit Unions (WOCCU) Economic Inclusion Project launched a new initiative at its June 27 semiannual meeting in Peru that aims to facilitate better coordination between the public and private sectors in the development of regulatory proposals, mechanisms and strategies that improve access to financial services and boost economic opportunities for Venezuelan migrants and refugees.
The Economic Inclusion Project (EIP) joined the country's Ministry of Economy and Finance and the National Superintendence of Migration to announce the creation of the Consultative Committee of Financial Inclusion for Migrants and Refugees in Peru.
EIP Chief of Party Oscar Guzmán used the opportunity to present the first findings of EIP’s Study of the Integration of Migrants and Refugees to emphasize the importance of such initiatives to the more than 100 people in attendance.
“These results show a higher level of integration, especially in the economic dimension, for people who have participated in EIP initiatives, such as the revalidation of professional degrees, business development programs and financial education and inclusion,” said Guzman.
Other organizations with representatives on the Committee include the country's Superintendency of Banking, Insurance and AFP, the Ministry of Justice and Human Rights, the Ministry of Foreign Affairs, ILO/IOM Peru, United Nations' High Commission for Refugees (UNHCR) and other representatives of the formal financial system.
Armando Benjamin García Chunga, Peru’s National Superintendent of Migration, spoke about the need for greater socioeconomic integration efforts.
“Financial inclusion and the incorporation of migrants into the formal economy is also a way to combat the illegal economy of transnational criminal organizations, which take advantage of the economic vulnerability of migrants,” said Garcia Chunga.
A panel discussion featuring experts from the various agencies in attendance further highlighted that coordination between the public and private sectors is vital to promoting initiatives that provide access to formal financial services, job placement and support for micro and small enterprises that continue to effectively contribute to the integration of migrants and refugees.
EIP semiannual meeting in Ecuador also focuses on socioeconomic integration
EIP also brought partners and allies together for a June 20 semiannual meeting in Quito, Ecuador that also featured a presentation on the findings from the Study on the Integration of Migrants and Refugees.
Oscar Guzmán again presented relevant study results showing that EIP participants generate greater opportunities and income, and generally have a higher rate of integration. He also explained that the contributions gathered during the event from partners and allies would help complement the study.
Federico Augusti, the UNHCR representative in Ecuador, added that the important data presented by EIP should be used to work on more evidence- and impact-based initiatives that ultimately contribute to best practices and public policies moving forward.
“To promote job opportunities for vulnerable communities, we must do what you, USAID and WOCCU, do: knock on doors, come with evidence and propose changes that contribute to the country's development,” added Pablo Beltrán, President of Ecuador’s Higher Education Council.
María Paulina Vega, President of Ecuador’s Financial Policy and Regulation Board, and Anh Hua, USAID Ecuador’s Democracy Officer, also spoke at the event and invited the 100-plus attendees to continue joining initiatives that promote the socioeconomic integration of migrants, as they create opportunities and contribute economically to their host country.
Both semiannual meetings confirmed EIP's socioeconomic integration of migrants and refugees with the local population, driven through entrepreneurship, employability, financial inclusion and gender-based violence prevention, can only be achieved through the continued commitment and coordination of partners and allies.
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