IFC UNHCR Joint Initiative - Financial inclusion for refugees and migrants in Latin America

© UNHCR/Helene Caux

Financial inclusion for refugees and migrants in Latin America

To raise awareness and find solutions to the financial service needs of the forced displaced and host populations, UNHCR and IFC have been working to show financial service providers the benefits of working with them. Here are five things they learned that make a difference for advancing financial inclusion for refugees and migrants: 1. Stereotypes are an important barrier that can be addressed through face-to-face interactions; 2. Data is important to help overcome misconceptions about refugees and migrants and make the business case for serving them; 3. Targeted investments and technical assistance can provide a final push to incentivize FSPs to serve refugees and migrants; 4. Refugees and migrants need guidance on accessing the financial system in their host country, while FSPs need guidance on how to approach migrants and refugees

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