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Financial Inclusion and Remittance Recipients
Our development initiative in intermediate cities has progressed positively to allow us to expand our work activities.
One initiative follows up on our financial inclusion program. It consists of the formation of a working group on remittances and financial inclusion in Guatemala, carried out in partnership with the Central Bank of Guatemala.
The Dialogue’s Working Group on Remittances and Financial Inclusion aims to provide input, expertise, and recommendations on how to strengthen the link between remittances and financial inclusion, and in particular how to mitigate potential income declines resulting from changes in migration (decreased flow), return migration (increased deportations), and the slowdown in remittances projected for 2026.
Building solutions through dialogue with support from the Dialogue
On July 30, the working group held its first meeting, with 49 representatives from banks, credit unions, public institutions, academia, and the fintech sector. The objective was to analyze the risks families face due to declining migration and remittances and to develop collaborative solutions.
On November 13, a second working group meeting was held with 24 representatives, during which projections for remittances through 2026 were shared. During the meeting, the Dialogue identified alternatives for strengthening financial inclusion, especially for households dependent on these funds. These meetings include analysis and the provision of concrete steps to turn dialogue into action to protect families and strengthen their economic resilience.
Lessons Learned
- Informed dialogue strengthens decision-making: On issues such as remittances and financial inclusion, sharing evidence allows progress toward real solutions.
- National actors in the financial system recognize the importance of introducing concrete solutions; among these, the Dialogue has recommended promoting diaspora investment in government bonds, opening savings accounts, obtaining credit, and contributing to retirement pensions.
First Working Group Meeting on Financial Inclusion
Second Working Group Meeting on Financial Inclusion
