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Agreement between the BCRA and the Province of Chaco: New Incentive for Financial Education

CONVENIO Chaco

Miguel Pesce, President of the BCRA, and Jorge Capitanich, Governor of the Province of Chaco, have met today at the BCRA to sign an agreement for cooperation in financial education. The agreement seeks to boost users’ skills and knowledge, and strengthen the financial inclusion of the most vulnerable sectors.

The BCRA has been developing federal educational programs with a view to providing financial education across the country. In 2021, it has already signed agreements with the provinces of San Juan, Neuquén and Santa Fe. These agreements are fully operational and have arisen great interest in these jurisdictions, with a record participation of teachers and students. More than 1,100 teachers—who give lessons to more than 87,000 students—have already registered, doubling the enrolment rate of 2020.

“It is very important to us to expand financial education,” said Pesce. The President of the BCRA referred to the modernization process that is taking place regarding means of payment, especially cash. “We are going towards electronic systems, and that calls for preparation,” he added.

In this regard, Pesce mentioned some of the digitalization initiatives launched by the BCRA, such as ECHEQs and electronic trade acceptances, which he referred to as “a very important financing instrument for SMEs.”

“We have a challenge ahead. We are working on financial inclusion through education and, in this way, we are playing our part towards a major objective: inclusion and education in our country,” he concluded.

In turn, Capitanich extended his thanks for participating in the educational programs of the BCRA. “We are very interested in this kind of initiatives that change the way financial tools are used,” he said. In this sense, he underlined the province’s efforts regarding inclusion through digital platforms. “The objective is to move towards full integration into the banking system," he concluded.

In addition, Sergio Woyecheszen, Vice President of the BCRA; Daniela Bossio, Financial Regulations Deputy General Manager; Gastón Repetto, Financial Inclusion Senior Manager; and Mariano Iglesias, Financial Education Manager, attended the event on behalf of the BCRA. From the Province of Chaco, Federico Muñoz Femenia, President of Nuevo Banco del Chaco; and Sebastián Aguilera, Chairman of the Board, joined the Governor.

Agreement with Chaco

This Agreement with the province of Chaco was signed for three years, and establishes joint courses of action, such as:

- Designing, fostering, and assessing actions addressed to students of different educational levels.
- Promoting training programs for teachers, both online and face-to-face.
- Executing educational actions aimed at people from vulnerable groups in society, such as the retired and pensioners, social security beneficiaries, and informal workers.

In addition, the agreement includes the signing of complementary agreements with the Ministry of Social Development and the Ministry of Education, Culture, Science and Technology of Chaco.

13 July, 2021.

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