“Innovations for Scaling Up Financial Education” is a new initiative of Proyecto Capital, which seeks not only to innovate in designing new methods and alternatives for building financial capacities, but also to create knowledge and gain experience in addressing the challenges of expanding and ensuring the sustainability of financial education programs associated with CCT programs.
The pilot project’s goals are to design educational material and methods, using savings education materials already produced by CCT programs (manuals, guides, brochures, etc.), and to give stakeholders involved in CCT programs (leader mothers, local promoters / municipal coordinators, financial institutions) the opportunity to take responsibility for developing financial capacities.
The educational materials to be developed include flip charts that tell the story of “Isidora the saver” (“Isidora la ahorradora,” in Spanish) (Peru) and “Diva, the saver” (“Diva, la ahorrativa,” in Spanish) (Colombia). Through the stories, these characters will help the beneficiaries develop financial skills that foster a culture of saving and planning of expenses.
Radio dramas have also been designed to supplement the printed material, as a way of “educating through entertainment.” The goal is to provide the beneficiaries with parallel, ongoing stimulation using educational material that does not depend on a facilitator’s intervention.
Text messages (SMS) sent to Local Promoters (Peru) and Municipal Coordinators and Leader Mothers (Colombia) are being used to acknowledge, motivate and remind them about their key role in promoting a culture of saving.
The project will operate in two countries: in Colombia, in the municipalities of Funza (Cundinamarca) and Rivera (Huila), where the “Familias en Acción” and “Red Unidos” programs are being implemented; and in Peru, in the districts of Santiago de Chuco, Cachicadán and Julcán, in the La Libertad region, where the “JUNTOS” program is being implemented. The target population consists of 3,162 beneficiaries in Colombia and 4,738 in Peru.