unanoahorrando

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“I’m a woman who saves in the bank, and who goes to the bank to make her deposits
and withdrawals. I know how to save (…) I’m more of a woman than I was before (…)
no one can take my money away, and no one can deceive me.”
(Emperatriz Taco Ccori, age 38, living with partner and two children in Coporaque, Espinar)
9. Some beneficiaries, especially those who are most empowered, use other financial services.
Most, however, do not consider seeking loans for fear of not being able to repay them and
because of the high interest rates. Some women have taken out loans, generally for home improvements
or for their children’s higher education. Some also know how to make bank or wire
transfers.
“No, I don’t take out loans because I’m afraid of the interest.”
(Roxana Huillca Chullo, age 26, living with partner and one child in Coporaque, Espinar)
“Two months ago, my father sent me money from the valley. My brothers are studying
in Cusco. He sent me money from there, and I transferred it to them from here.”
(Luzmila Medina Gonzales, age 30, living with partner and two children in San Jerónimo,
Andahuaylas)
rural women who are beneFiCiaries oF the Pilot Program want to and are able to save
The results we describe in this paper show that rural women are interested in the financial system,
that it is useful to them, and that they want to and are able to use it. To do so, however, then need initial
information about what the system can offer, as well as answers to their questions. Mechanisms
are also needed to overcome their initial distrust of the system.
Most of the women now trust the financial system. The financial product promoted by the pilot, the
savings account, gives them security and control over their resources.
The women have learned to use their savings accounts. It is clear that it is also possible for them to
learn to use other services, such as loans, bank and wire transfers, and deposits.
This first year of the pilot program has raised new questions and renewed many of the debates in the
literature and in practice about the role of the financial system and inclusion of the poor in the system,
so they can overcome poverty. This pilot provides a valuable opportunity to continue studying
and understanding the financial needs of poor women and their families, and to identify bottlenecks
and possible solutions to problems faced by various stakeholders, such as financial intermediaries,
public entities, etc., to leverage financial inclusiveness.
Carolina Trivelli / Jimena Montenegro / María Cristina Gutiérrez