Skip to main content
Promotion of Savings by Recipients of Government Payments
The project will provide the public access to its conditional cash transfers (not just the LPG subsidy but any kind of social contributions) in a flexible and timely manner, through a savings account easy electronic activation, in which to be held the deposit subsidy, facilitating their delivery and also contributing to the accumulation of savings to meet future needs or achieve a purpose. The project involves the accompaniment of the financial education of these customers, contributing to the success of its implementation, ie the use of the product and service delivery through the distribution channels of traditional and non-bank, Mobile Banking and ATMs. This will impact on the banking or financial inclusion of the population still lacks access to savings services, getting future not only have accumulated savings to cover different situations, but also access to credit, this associated with bring banking benefits to families and the economy of the country

Project Detail

Country

El Salvador

Project Number

ES-M1041

Approval Date

October 25, 2012

Project Status

Closed

Project Type

Technical Cooperation

Sector

FINANCIAL MARKETS

Subsector

FINANCIAL INCLUSION

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

Uncategorized Directive B.13

Total Cost

USD 1,152,504.00

Country Counterpart Financing

USD 740,040.00

Original Amount Approved

USD 412,464.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-13475-ES Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-13475-ES
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable

Can’t find a document? Request information

Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1136004384-16316
MIF_ Project Status Report ATN_ME-13475-ES [40690288].PDF
Published Sep. 30, 2016
Download
https://www.iadb.org/document.cfm?id=EZSHARE-1136004384-16315
MIF_ Project Status Report ATN_ME-13475-ES [40225974].PDF
Published Apr. 06, 2016
Download
https://www.iadb.org/document.cfm?id=EZSHARE-1136004384-16314
MIF_ Project Status Report ATN_ME-13475-ES [39868083].PDF
Published Sep. 22, 2015
Download
https://www.iadb.org/document.cfm?id=EZSHARE-1136004384-16313
Plan de Adquisiciones_ Promoción de Ahorros entre Receptores de Pagos de Gobierno [39812177].PDF
Published Nov. 18, 2015
Download
https://www.iadb.org/document.cfm?id=EZSHARE-334332595-29
MIF_ Project Status Report ATN_ME-13475-ES [39504575].PDF
Published Apr. 13, 2015
Download
https://www.iadb.org/document.cfm?id=EZSHARE-334332595-28
MIF_ Project Status Report ATN_ME-13475-ES [39051413].PDF
Published Sep. 13, 2014
Download
https://www.iadb.org/document.cfm?id=EZSHARE-1879177276-14
MIF_ Project Status Report ATN_ME-13475-ES.pdf
Published Jun. 12, 2017
Download
https://www.iadb.org/document.cfm?id=EZSHARE-1879177276-15
MIF Project Status Report-6-2017-ATN_ME-13475-ES - Rep6795.pdf
Published Oct. 30, 2017
Download

Have an Environmental or Social issue related to IDB projects? File a Complaint

Blogs
Published 2024
Boosting Financial Inclusion Among the Vulnerable
By 2021, only 31% of Chile’s country’s population over 15 had saved in a financial institution, with especially low rates among the very poor, depriving them of the benefits of a range of financial services, including savings accounts, credit, and insurance products. The issue of how to increase financial inclusion and, in the process,
Blogs
Published 2024
Impulsando la inclusión financiera entre los vulnerables
En 2021, sólo el 31% de la población mayor de 15 años en Chile había ahorrado en una institución financiera, con tasas especialmente bajas entre los más pobres, lo que les priva de los beneficios de una serie de servicios financieros, como cuentas de ahorro, crédito y productos de seguros. La importancia de aumentar la
Blogs
Published 2022
Financial Challenges for Bahamian Firms
Financial institutions and markets are integral in enabling transactions, intermediating savings for businesses in need of financing, allocating scarce financial resources and facilitating risk diversification. Modern economies rely on these financial institutions and markets to finance private sector development. For economies like The Bahamas, the post-pandemic recovery will be fueled in part by such domestic
Blogs
Published 2023
Examining the Effectiveness of a Financial Inclusion Reform in Uruguay
In 2014, Uruguay launched an ambitious financial inclusion program, joining other countries in the region that have sought to give citizens greater access to banking and financial services and encourage the use of electronic payments instruments that avoid the need for cash. Unbanked people in Uruguay, as in other countries of the region, had traditionally lacked
Blogs
Published 2023
A New Miracle? The Promises of Digitalization and Financial Inclusion in Latin America
Latin America and the Caribbean has made a big leap towards using digital technologies to expand financial inclusion, and there are reasons to be hopeful: Several initiatives in the region have expanded the supply of innovative digital financial products which, in theory, should untap inclusive growth by enabling millions of micro and small firms and
Publications
Published 2022
Financial Inclusion and FinTech in Suriname
This paper examines the potential role FinTech can play to support Surinames financial inclusion efforts. Financial technologyor “FinTech”describes the integration of technology into financial services to improve their use and delivery to customers. More importantly, it has the potential to meet the needs of those population segments that are not the main target of traditional financial services models. FinTech applications include mobile banking, mobile money, point-of-sale, e-commerce, and digital currencies. These solutions have contributed to financial inclusion, strengthening financial development, economic growth, poverty reduction, and socioeconomic development. We find that Suriname is making progress in promoting the development and use of FinTech. Still, there is room for further improvement, especially in fostering an enabling environment to harness FinTech opportunities, strengthening broader financial sector policies, addressing potential risks, promoting international collaboration, and addressing critical country-specific challenges.
Publications
Published 2024
Taxation when Markets are not Competitive: Evidence from a Loan Tax
We study the interaction of market structure and tax-and-subsidy strategies utilizing pass-through estimates from the unexpected introduction of a loan tax in Ecuador, a quantitative model, and a comprehensive commercial-loan dataset. Our model generalizes bank competition theories, including Bertrand-Nash competition, credit rationing, and joint-maximization. While we find the loan tax is distortionary, neglecting the possibility of non-competitive lending inflates estimated tax deadweight loss by 80% because non-competitive banks internalize some of the burden. Conversely, subsidies are less effective in non-competitive settings. If competition were stronger, tax revenue would be 10% lower. The findings suggest that policymakers should consider market structure in tax-and-subsidy strategies.
Publications
Published 2024
The Promises of Digital Bank Accounts for Low-income Individuals
The push for adopting digital modes of payment rests on three promises: increased efficiency of transactions, increased financial inclusion, and improvements in the financial well-being of low-income individuals. We experimentally test the extent to which these promises are fulfilled. We exploit the random assignment into an intervention to encourage direct deposits of recurrent government benefits into digital bank accounts in Colombia. Switching from cash to direct deposits reduces disbursement errors and increases access to benefits among eligible beneficiaries. It also increases the ownership of bank accounts, the demand for formal loans, and loan take-up among individuals without a financial history. However, we do not find evidence of improvements in financial well-being across any of our metrics.
Blogs
Published 2023
Datos, empresas de mujeres y acceso al financiamiento: ¿Qué aprendimos de Argentina?
Antes del año 2011 sabíamos muy poco sobre la inclusión financiera de las mujeres. Con la excepción del caso de Chile, la dinámica se repetía en la mayoría de los países. No se recolectaban, reportaban, ni se analizaban datos del sector financiero desagregados por sexo. En el 2011, con la publicación de la encuesta Global
Blogs
Published 2023
¿Un nuevo milagro? El potencial de la digitalización y la inclusión financiera en América Latina
América Latina y el Caribe ha dado un gran salto hacia el uso de las tecnologías digitales para ampliar la inclusión financiera. En ese sentido, existen motivos de optimismo: varias iniciativas en la región han ampliado la oferta de innovadores productos financieros digitales. En teoría, estos productos deberían impulsar el crecimiento inclusivo al permitir a
Powered by FindIT
Jump back to top