The Minister of Finance, Luis Caputo, together with the team of the Ministry of Finance held a meeting on Friday with Queen Maxima of the Netherlands and they talked about the progress made by the Financial Inclusion Council, an initiative promoted by the National Government to foster policies of universal access to bank and financing services. The meeting was held within the framework of the World Bank Spring Meetings in Washington DC.
At the meeting, Caputo highlighted the tough work done by Queen Maxima as representative before the United Nations in the agenda of Inclusive Financing for Development. “Her knowledge in financial inclusion is an important tool for those who want to promote comprehensive financial policies that reach the most vulnerable sectors of society”, Mr. Minister said and highlighted the commitment of the World Bank Group in promoting said initiatives.
In turn, Caputo talked with Queen Maxima about the intention of President Mauricio Macri’s Government to develop a strategic public policy focused on the financial inclusion of the most vulnerable ones. As a result, in June last year, the Financial Inclusion Council was created, with the objective of promoting and organizing the policies developed by different Ministries and Governmental bodies. This council is chaired by the Minister of Finance, Luis Caputo, and it includes the participation of officials of this Ministry and other representatives of the Ministry of Treasury, the Ministry of Production and Social Development, the Central Bank and the Office of the Cabinet of Ministers.
Regarding the implemented measures, Caputo and his team highlighted the digitalization of payment methods, the setting up of more correspondent banks, savings accounts free of charge and more flexibility in the requirements to open an account.
Likewise, the Minister of Finance highlighted the work done to extend the financial service to SMEs and entrepreneurs. “The Productive Financing Act is aimed at achieving access to credit in sustainable conditions, this is with better terms and rates”, Caputo said.
In addition, Queen Maxima committed herself to cooperate with the Argentine Government in the implementation of the national strategy of financial inclusion. More access to financial services contributes to the fight against informality and to the economic development of the country and the region.