How can financial inclusion contribute to traceability in ASGM? Lessons from Colombia and Peru
May 3, 2022 | 3:00 PM - 4:00 PMPartner Session
May 3, 2022 | 3:00 PM - 4:00 PM
Partner Session
Description
Organised by : Solidaridad
The panel will be conducted in Spanish. Closed captions in English and French will be provided.
Two of the main challenges prohibiting ASM miners in Latin America from getting access to finance and accessing the formal banking system are 1) limited financial literacy among miners, and 2) financial institutions being hesitant to engage with the sector due to limited knowledge of ASGM and high perceived risks. This prevents ASM gold miners from entering the formal banking and credit system, which in turn limits their ability to invest in improving their practices and complying with standards.
Therefore, in association with Colombian gold trader CI ESLOP and the support of the Dutch Ministry of Foreign Affairs, Solidaridad has been implementing since 2021 a financial inclusion pilot initiative in Colombia while engaging in similar efforts in Peru. Solidaridad’s work seeks to improve financial literacy for ASM gold miners and provide customer knowledge management support for financial institutions.
This panel will present valuable learnings from the pilot in Colombia and the experience in Perú, and debate them with experts, sectoral authorities and practitioners, seeking to understand how financial inclusion can help achieve traceability goals, manage risks, increase transparency along the supply chain, and bring benefits to everyone involved, particularly producers. Special attention will be paid to how financial inclusion intersects with gender across mining communities and the challenges that lay ahead.
Register
Contact email
elizabeth.echavarria@solidaridadnetwork.org
