Financial delegates from 44 countries meet in El Salvador to discuss financial inclusion

By Karla Ramos  |  May 16th, 2022

Financial delegations from 44 countries have met in San Salvador to discuss various financial inclusion policies. This is the 25th meeting of the digital financial services working group developed by the Salvadoran Central Reserve Bank (BCR) and the Alliance for Financial Inclusion.

Also, the 18th meeting of the small and medium business financing working group is scheduled to be held.

This in-person meeting is the first after two years of having suspended its face-to-face summits. Representatives of 32 central banks and 12 financial authorities from 44 countries are in attendance.

The conference will discuss strategies for financial inclusion, digitalization, and access to financing for small and mid-size businesses.

Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the Bitcoin rollout, and its benefits in our country.” President Nayib Bukele.

The President of the Salvadoran Central Reserve Bank highlighted the importance of financial inclusion to promote economic growth, reduce poverty and improve the population’s quality of life.

This meeting is of great interest to El Salvador since it will allow us to address issues related to the digital economy and financing. As well as the financial inclusion of micro and small businesses.” Douglas Rodriguez, president of the Salvadoran Central Bank.

President Bukele Tweeted a list of some of the participating financial institutions, such as the Central Bank of Egypt, Central Bank of Jordan, Central Bank of Nigeria, Superintendencia de Bancos de la República Dominicana, and many others.

Some participating countries are Angola, Ghana, Namibia, Uganda, the Republic of Guinea, Madagascar, Burundi, and Haiti.

El Salvador, just like many other countries, is facing financial difficulties due to the pandemic and lack of financial inclusion for small and mid-size businesses.

During the conference, Miguel Kattan, the Secretary of Commerce and Investments expressed that digitalization is a vital issue for the country.

The country will achieve development only through agile, efficient, and secure services.” Miguel Kattan.