AVAL Consulting hosted a webinar focused on the financial capability of persons living with disabilities in Ecuador, with the goal of establishing clear action steps for improving this critical life skill in the short and long term.
The biggest gaps to achieving financial inclusion in the country/industry in focus:
The three biggest gaps to achieve financial inclusion for people with physical disabilities in Ecuador are: limited programs and initiatives contextualized to the socioeconomic reality of this group to include them in the financial sector, a lack of trust in the formal financial system, and lack of coordination between key stakeholders in the private and public sector.
Key action steps to advance financial inclusion:
Include financial education programs as an important complement of labor insertion and entrepreneurship programs, in order to improve their financial capability and help them make responsible and informed financial decisions.
Quote(s) from the discussion:
“Physical disability is not the reason why people show low levels of financial capabilities. The main reason why this group has a substantial deficiency in their level of financial capability is the economic situation they are living due to their disability. The poverty conditions they are living are the main cause of gaps if we compare with the results of the study conducted to Ecuadorians in 2013. Hence, it is imperative to integrate financial education programs as a complement to the labor insertion and entrepreneurship programs that have been implemented for this group. If we continue promoting financial education without taking into account the socioeconomic reality of this group, the results will be limited.”
– Bertha Romero, AVAL
Download the presentation (PowerPoint)
Watch the webinar below: