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Financial inclusion: leverage for attaining the UN Sustainable Developments Goals






Introduced by five ambassadors from the United Nations, the last work session of the International Summit of Cooperatives produced specific courses of action intended to attain the goals and targets of the United Nations 2030 Agenda for Sustainable Development.

The following themes were studied:

  • poverty and financial inclusion;
  • food security;
  • employment;
  • access to healthcare and social services;
  • climate change and sustainable development.

Workshops were held to study the challenges presented by each theme and propose solutions. Headed by DID, the workshop on poverty and financial inclusion featured two guest speakers:

  • Daouda Sawadogo, General Director, Faîtière des caisses populaires du Burkina (FCPB).
  • Juan Buchenau, Senior Financial Sector Specialist, Finance and Private Sector Development, Latin America and the Caribbean Region at the World Bank Group.

These two experts commented on five of the major challenges associated with increasing financial inclusion and proposed ways to improve the situation of the 2 billion adults who remain without access to financial services.

  • Challenge 1: Strengthening financial cooperatives so that they can offer affordable and secure financial services to populations who are currently excluded.
  • Challenge 2: Making use of technology to offer financial services to excluded populations.
  • Challenge 3: Promote the economic empowerment of low-income individuals and communities through small loans.
  • Challenge 4: Promote savings and financial education within low-income populations.
  • Challenge 5: Help low-income individuals and their families become more financially secure.

Some 500 stakeholders took part in this workshop. They were asked to identify ongoing projects and projects in which cooperatives and mutuals might take part in order to overcome these challenges, in addition to identifying individuals and organizations involved or interested in becoming involved.

On the 403 projects underway and 345 project ideas submitted, 136 projects underway and 98 project ideas came out of the Poverty and financial inclusion workshop (and a number of them came from members of Proxfin). Click here to see the list of all projects.

This brainstorming exercise demonstrated the immense power to act of the cooperative and mutualist movement, the first economic power to mobilize and commit to tangible support for the attainment of the United Nations Sustainable Development Goals.

Proxfin a vu le jour avec l'appui d'Affaires mondiales Canada et est animé par
Développement International Desjardins.