LIMA, Peru—The USAID/World Council of Credit Unions’ Economic Inclusion Project (EIP) in February is reporting it shared how it has generated opportunities for nearly 100,000 Venezuelan migrants, as well as local, vulnerable populations in Peru and Ecuador, according to WOCCU.
The information was shared during events organized in both countries for the eighth quarterly meeting of the project, presented under the theme “Migrant Integration Through Economic Inclusion,” WOCCU said.
According to the World Council, Danielle Spinard, director of the Regional Migration and Health Office of USAID Peru, highlighted sustainability and compassion as “key elements vital to assisting vulnerable communities that seek opportunities to become part of the workforce in their host countries.”
With representatives from more than 50 financial entities, WOCCU said organizations that support livelihood programs, government institutions, bilateral agencies and universities were on hand for the events, where EIP Chief of Party Óscar Guzmán thanked the institutions that have worked with the project to help more than 98,000 people achieve some form of financial inclusion.
Of those nearly 100,000 people, 65% are women and 7,649 participants are entrepreneurs—90% of whom reported that assistance from the Economic Inclusion Project helped them improve their businesses, WOCCU said.
Panel Discussions
The events also included panel discussions with representatives from government agencies that share a common goal of strengthening local capacities to achieve the sustainability of the actions promoted by EIP, WOCCU reported, adding that included both the Peruvian and Ecuadorian Ministries of Production, Peru's Superintendency of Migrations, Peru’s Superintendency of Banking, Insurance and Private Pension Fund Administrators, and Ecuador’s Superintendency of Popular and Solidarity Economy.
“Financial education is doing something for someone else; so, granting the credit unions and their associates access to financial education through digital platforms such as the ‘Yo Decido: Mi futuro y mis finanzas’ (I Decide: My Future and My Finances) program is democratizing financial education for the 6.6 million Ecuadorians that are part of the credit union industry, which make up 56% of the adult population in the country,” said Margarita Hernández, Ecuador’s Superintendent of Popular and Solidarity Economy.
Panel Offers Testimonies
In addition, WOCCU reported a separate panel for EIP participants featured meaningful testimonies. Those testimonies included:
- Yureixi Zapata, a Venezuelan communicator who now lives in Lima and who received support for her degree revalidation process. Zapata, who was sick from COVID-19 twice, explained how EIP assistance helped her overcome the impacts of the illness, WOCCU said.
“The first time (with COVID-19) I didn’t have any medical insurance nor a formal job. I felt like dying, it was terrible. Thank God I got over it and I decided I couldn’t live like that,” Zapata said. “I reached out for help to revalidate my professional degree, to look for a job, and I came to USAID and WOCCU. The second time that I tested positive for COVID, I could receive medical assistance because I was working at an important enterprise. Now I have medical insurance and all the social benefits,” said Zapata.
- Yelitse Barrios, a Venezuelan woman living in Quito, Ecuador, shared how she started an associate entrepreneurship after finishing the “Emprende UNIDAS” program.
“Everything that they have given us has represented the pillar to develop our business. Together as a team we can reach our dreams, our independence, for us as women and for our families,” said Barrios.
Committed to Compromise
To close the events, WOCCU reported the attending institutions committed to a symbolic compromise in support of the economic integration of Venezuelan migrants and local vulnerable populations.
“That type of commitment will allow USAID and WOCCU to continue reaching and keep generating more economic opportunities for participants of varying backgrounds in Peru and Ecuador,” World Council stated.
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