I am very happy to announce an unprecedented partnership between Visa and the Inter-American Development Bank (IDB) to promote financial inclusion for the residents of Complexo do Alemão, a cluster of favelas with a population of nearly 90,000 people.
Why have we entered into this partnership and what is it all about?
At Visa, we believe that everyone has the right to basic financial and payment services. Our partnership establishes the development of local solutions to allow the community to have access to the formal financial system and its benefits, as well as providing information and education needed for sustainable inclusion.
Below is an overview of the activities planned under this partnership:
Financial Literacy – Implementation of classes in financial literacy, a topic that Visa promotes around the world. A customized course for this project, prepared by Visa and IDB, will offer classes to 13 to 17 year olds as well as adults. Community teachers will also be trained by both institutions.
Financial Consultancy – Free financial consultancy services provided at a dedicated site, directed specifically at the needs of local individuals and businesses. A financial consultant from the community trained by Visa and the IDB will provide all the necessary information on how residents can legally register a company or open their own business in Complexo do Alemão, as well as helping community members to open bank accounts, understand the financial system or enroll in government social welfare programs.
Facilitating Access to Financial Inclusion – Studies commissioned by Visa and IDB to map habits, usage and penetration of the financial system in Complexo do Alemão.
Based on this data, Visa, in partnership with Bradesco, one of its financial institution partners, will study and assess opportunities for effectively meeting the needs of this population, seeking financial tools that make citizens’ daily lives easier, allowing them to make payments and receive payments in a much more secure and innovative way.
Most of the activities will be held at the Espaço Comunitário Carlos Castilho facilities in Complexo do Alemão and will be a part of the development project implemented by the municipal government of Rio de Janeiro through its Sports and Leisure Secretariat. The IDB provides financial support for the project through partnerships like this, with Visa.
With this project, Visa is helping the community in Complexo do Alemão take a few steps forward in building their own future.
Posted by: Ruben Osta, Country Manager, Brazil on August 22, 2012 at 12:15 pm