PE-M1089 : Savings for All

Caja Nuestra Gente is a Rural Savings Bank in Peru with an important number of low income women who are recipients of a conditional cash transfer (called Juntos Program). This institution was reaching rural areas offering loan products for entrepreneurship, mainly targeted to women, but were mobilizing savings from a different population. With MIF support (ProSavings Program) Caja Nuestra Gente will be developing savings products tailored to conditional cash transfers recipients needs in order to encourage a shift in behavior from immediate consumption to savings, to increase investment in education, health, emergencies and specially small businesses. In Peru most of the financial institutions offer credit to low income people but there is a lack of savings products for this segment. These new products developed by the project will be used at least by 6.000 low income people living in 19 districts of Peru.