Developing financial education policies for women and youth: AFI member training in Paraguay

From 5 to 8 November, AFI and the Central Bank of Paraguay (BCP) hosted a training course in Asunción for AFI’s Latin American & Caribbean members, exploring how to develop financial education policies for women and youth.

“These four days are dedicated to exploring strategies to boost financial education, providing women and young people with the necessary tools to make informed decisions,” said BCP President, Carlos Carvallo in his opening remarks. “This effort contributes to individual well-being, strengthening the social and economic fabric of our nations.”

Based on AFI’s knowledge product, Integrating Vulnerable Groups in National Financial Education Programs and Strategies, the training guided members in identifying women and youth target groups, developing gender- and youth-sensitive national financial education strategies, and effectively collaborating with relevant stakeholders.

“By equipping women and youth with the necessary knowledge and skills to manage their finances effectively, we empower them to make informed decisions, access credit, save for the future, and invest in their businesses and education…unlocking their economic potential,” highlighted AFI CEO, Alfred Hannig.

In addition to Central Bank of Paraguay, speakers from Centrale Bank van Suriname, Comisión Nacional de Bancos y Seguros de Honduras, Banco Central de Reserva de El Salvador, Superintendencia de Banca, Seguros y AFP del Perú, Superintendencia de Economía Popular y Solidaria del Ecuador, Banque de la République d’Haiti, and Superintendencia de Bancos Republica Dominican shared their experiences in tackling financial education for women and youth. Guest speakers from Fundación Capital and Banco Itaú Paraguay discussed the role of financial education policies in guiding private sector initiatives.

During a field visit to Areguá, LAC members met with entrepreneurs supported by Itaú Foundation, to learn first-hand how financial education policies have positively impacted women and youth in Paraguay.