ECUADOR

On January 13 the Central Bank (BCE) General Manager Verónica Artola announced the completion of the drafting of the National Financial Inclusion Strategy (ENIF, for its acronym in Spanish). The strategy contains a roadmap establishing the basis for working towards the development and economic welfare of people and MSMEs, by ensuring the “sustainable provision of quality financial services and empowering financial consumers.” The document has not been published. 

Artola also explained that the ENIF is pursuing a series of 2024 development goals including the provision to provide all communities in the country with some form of financial service, as 27% of communities in Ecuador lack any kind of finance center. The idea is also to increase the number of adults with bank accounts in the financial system from 51% to 75%.

The announcement was made within the framework of the Second International Congress on Financial Education, organized by the ECB, featuring experts from Ecuador and other countries who are taking part online. The purpose of the seminar is to strengthen the channels and strategies to expand financial inclusion in Ecuador.