Less access to credit for women, one of the lessons that will be analyzed in conferences on the Popular and Solidarity Economy | Economy | News

Between October 4 and 29, the tenth supervision sessions will be held that will analyze issues of digital literacy, inclusion, fintech, among others.

October 4, 2021 – 06h20

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The The distribution of credit between women and men is unequal and puts women at a disadvantage, despite the fact that they save more, compared to men. According to the latest data from the Superintendency of Popular and Solidarity Economy, published in September, credits for citizens between 18 and 29 years old, are distributed in 62.4% for men and 37.6% for women. The relationship is shortened slightly as the age of the people increases. But always at a disadvantage with the woman.

So in the range of people between 50 and 65 years the proportion varies and 58.8% of credits are granted for men and 41.2% for women. However, when looking at deposits, which represent savings, it can be seen that in the age range of 18 to 29 years old, 47.1% of savings are for men and 52.9% for women. The gap narrows with increasing age.

The data show the lack of inclusion with a gender perspective that the financial system suffers from.

This issue, as well as others that are part of the problem and alternative solutions that revolve around the Popular and Solidarity Economy They will be analyzed between October 4 and 29 in the context of the Tenth Supervision Conference, organized by the Superintendency of Popular and Solidarity Economy. It is an annual space for reflection, knowledge exchange and learning around different topics of relevance for the good performance of the Popular and Solidarity Economy (EPS) sector.

This year the event is called: ‘EPS 3.0: Digital Financial Inclusion, Transparency and Governance ‘. Five conference panels have been organized, with the participation of 21 national and international exhibitors. All of them under transversal axes such as transparency, strengthening, and financial inclusion with a gender perspective and with an emphasis on the rural sector.

The event includes, for the second year in a row, training on risk management, cooperative government, financial education, among others. Academic tables will be held with the participation of various universities. Being an event in virtual mode, within the digital platform created for conferences and other activities, there will be stands of more than 20 private and public institutions.

In accordance with Margarita Hernández, superintendent of Popular and Solidarity Economy, this year the lessons learned from the pandemic will be discussed. Among them, that if someone was hit by the crisis, it was someone who did not have insurance, access to savings and credit. In this way, sees the need to work hard on financial inclusion. And within it, promote digital financial inclusion, the development of digital financial products and the extension of financial education hand in hand with digital literacy

It also explains that mention is made of a Popular and Solidarity Economy 3.0, because it is considered that it should be an improved version that points to financial mechanisms related to capital markets, with big data, financing for small and medium-sized companies, knowledge and development of regulatory issues on the fintech ecosystem, explains Hernández.

Regarding the lack of inclusion with a gender perspective, she says Hernández, that one of the objectives of the Superintendency is precisely to focus on the problems of women who have been the most impacted in the pandemic. Being part of the Alliance for Financial Inclusion (AFI, for its acronym in English) said that it is working on a national roadmap to eliminate barriers to access to financial inclusion. Are developing products and services for women and a policy adjustment to facilitate the inclusion of women who live in rural areas and receive the bonus, says Hernández. (I)

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