Fainé encourages sustainable and inclusive funding from WSBI

From left to right Jose Mendes, Director of CECA; Dr.. Gürsul Nohud, President of ESBG; Jose Manuel Campa, President of EBA, Peter Simon, Director of WSBI, and Isidro Faini ABC

WSBI members approved the Paris Declaration of 2022, a key document calling for the promotion of sustainable financing to ensure the economic resilience of the communities in which they operate.

The World Savings and Retail Banking Institute (WSBI), chaired by Isidro Faini, concluded its 26th World Congress in Paris today with a focus on advances in sustainable finance in the context of the current complex situation.

Founded in 1924, WSBI represents more than 6,000 savings and retail banks from around the world, with total assets of $15.6 trillion.

WSBI members approved the Paris Declaration of 2022, a key document calling for the promotion of sustainable financing to ensure the economic resilience of the communities in which they operate. Such a measure can help promote sustainable cross-border financing as well as reduce compliance costs. Isidro Faini, President of WSBI, La Caixa Banking and CECA, opened the meeting by saying that “Feeling and acting responsibly is linked to our identity. The fact that we are born this way, it is part of our DNA, it is our calling. All of this translates into our way of banking, which is different. than those of other players in the sector, moreover profitable, efficient and fair ».

Promoting Financial Inclusion, Scale2Save

As a parallel event to the global conference, the Scale2Save (S2S) program was introduced, which will expire on August 31 after six years of activity. Developed by WSBI in alliance with the Mastercard Foundation, this program aims to promote financial inclusion through the creation of basic savings accounts in developing countries and financial education projects, thereby overcoming the barriers faced by most residents of these countries in accessing financial services.

With 1,078,000 registered customers as of March 31 and a 20% monthly activity rate over the past twelve months, S2S has exceeded its numerical commitment to reach 1 million customers.

With a total budget of over $16 million, S2S has been able to implement successful projects in places such as Ivory Coast, Morocco, Nigeria, Kenya, Senegal, Tanzania and Uganda.


Leave a Reply

Your email address will not be published.