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A&C contributes to the development of rural territories by offering support for the productive use and administration of remittances. To achieve this, A&C works with recipient families, in particular with women, familiarizing them with different mechanisms for better managing their remittances. These mechanisms include investment in productive businesses, for which co-financing is offered, and bank savings, which permit the accumulation of sufficient capital to invest in businesses, deal with emergencies and access other financial services. A&C also works with migrant communities to enhance the flow of information and strengthen ties with migrants’ countries of origin, generating synergies that contribute to the development of their home territories.
How do we work?
Through A&C, Fundación Capital offers:
- Basic financial education programs, which give interested women the tools and information to make better decisions with their savings, investment, and debt. The program helps these women to understand budgets and budget management, how to save, and how the financial system works, including which services are offered and the advantages and risks associated with those services.
- Monetary incentives and support for opening savings accounts
- Bi-monthly awards to women who save and make use of the financial system
- Contests for business proposals, offered to organizations to which participants belong. Winning proposals receive up to 70% co-financing for the strengthening/development of their projects (on average 4,000USD). The organizations are required to input at least 30% of the resources requested, which can be used to contract technical, financial and commercial assistance, or be applied toward investment requirements for business development.
Activos y Conexiones is a pilot project financed by the International Fund for Agricultural Development (IFAD), and in its first phase has been implemented in selected territories of Bolivia, Colombia and Peru.
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