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What do poor people need from financial inclusiveness

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DIPLOMAT MAGAZINE “For diplomats, by diplomats” Reaching out the world from the European Union First diplomatic publication based in The Netherlands Founded by members of the diplomatic corps on June 19th, 2013. Diplomat Magazine is inspiring diplomats, civil servants and academics to contribute to a free flow of ideas through an extremely rich diplomatic life, full of exclusive events and cultural exchanges, as well as by exposing profound ideas and political debates in our printed and online editions.

Pictured H.E. Carlos Herrera, Ambassador of Peru.

By Roy Lie A Tjam.

On the 17th May 2016, the FMO, the ISS and the Embassy of Peru held a seminar with the title “What do the Poor need from Financial Inclusion?” at the auditorium of the FMO. This was followed by a second question, asking whether there are lessons to be learned from the Peruvian experience. During the seminar a panel of experts discussed the Peruvian experience but also focuses on the challenges that lie ahead.

Peru has been identified by the Economist Intelligence Unit as the world’s most conducive environments for financial inclusion. In Peru, financial inclusion has had a positive impact on poverty alleviation, the percentage of people living below the poverty line has dropped drastically in the last decade from 45% to 26%, whilst extreme poverty has gone from 14% to 5% in the same period. Real income in rural areas has also increased by 60% since 2004, whereas in urban areas it went up by only 20%.

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Mr Nano Kleiterp CEO at FMO opened the seminar. He welcomed the Ambassadors and many other guests including Ms Inge Hutter, Rector of the International Institute of Social Studies(ISS), Ms Carolina Trivelli, former Minister of Development and Social Inclusion of Peru and current General Manager of Pagos Digitales Peruanos.

The first speaker was H.E. Mr Carlos Herrera, Ambassador of the Republic of Peru to the Netherlands. Ambassador Herrera read a letter from HM Queen Maxima in which the queen lauded the key role Peru played in achieving financial inclusion. Her Majesty referred to the role Peru also played in prompting the UN General Assembly to pass the first resolution on financial inclusion.

Costa Rica & Cuba
H.E. Sergio Ugalde Godinez Ambassador of Costa Rica and the Ambassador of Cuba H.E. Fermin Quinonez Sanchez.

Credit goes to the outstanding efforts of Ambassador Gustavo Meza-Cuadra Velasquez. Furthermore, Her Majesty mentioned Peru’s commitment to the financial inclusion agenda “Modelo Peru” which solidifies Peru’s status as a role model to for other countries. The rest of the world is following Peru’s initiative with great interest, H.M.

Queen Maxima further added that she is particularly looking forward to celebrating more achievements in the years to come. Ambassador Herrera expressed his gratitude to all those that have contributed to making the seminar a success especially the ones who came from abroad to attend the seminar.

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Carolina Trivelli, General Manager of Pagos Digitales Peruanos.

The next speaker was Ms Carolina Trivelli, she highlighted the enormous progress made by Peru in financial inclusion from the public sector point of view as well as from the private sector point of view. Ms Trivelli also dwelled on the national strategy and the launching of the electronic wallet or E-wallet.

Mr. Nanno Kleiterp in his address stressed the participation of the Dutch Development Bank (FMO) in Peru, with a budget of over 250 million Euros, to the promotion a more inclusive development in Peru. Ms Inge Hutter, rector of the ISS, closed the very informative and successful seminar.

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