FELABAN and Alide sign agreement for development

To encourage cooperation among development banks and commercial banks and reinforce the financing of productive sectors the Latin American Association of financial institutions for development (Alide) and the Latin American Federation of banks (Felaban) yesterday in the city of Lima signed a memorandum of understanding to make partnerships during the next three years.

The agreement was signed by Oscar Rivera, President of Felaban, and Rodrigo Sánchez Mújica, President of Alide.

One of the objectives of the agreement, in addition to strengthening the financial system in the region, is "to assist its member institutions to achieve their goals and contribute to the economic and social development".

The document specifies the activities in which both institutions may merge efforts, such as the promotion of mechanisms to promote financial inclusion of lower income population groups (as a form of) u000a(contribute to the reduction of poverty in Latin American countries), and promote "initiatives to help set up a regional and international financial architecture that contributes to economic development" of the region

SMMEs
one of the themes that emphasize the agreement is the financing of micro, small and medium-sized enterprises in the region, given the importance of this segment "in the generation of employment, income, in the fight against poverty and the improvement of the well-being of the population".

The Latin American Federation of banks, Felaban, is a non-profit institution founded in 1965 in the city of Mar del Plata, Republic Argentina.

That body brings together, through their respective associations in 19 countries of the continent, more than 500 banks and banks of Latin America.

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