Residents of rural areas in baja california SUR mexico often have to travel more than two hours each way to access financial services such as savings accounts or small loans that can improve their…

The Inter-American Foundation awarded a $124,000 project grant under the IAF Assistance for Overseas Programs to Pedazo POR Pedazo Un Mundo Mejor Philanthropiece AC to establish community savings groups in rural areas of Baja California Sur, Mexico from March 2023 through March 2026. The grantee will identify and train local leaders to help rural communities form savings groups that provide financial services while building trust and accountability among members. Local promoters will also be trained to replicate the community savings group model in new communities, expanding access to financial services for more residents. The IAF Assistance for Overseas Programs aims to strengthen relationships and support self-help efforts among peoples in the Western Hemisphere through grants for grassroots development projects.

Residents of rural areas in baja california SUR mexico often have to travel more than two hours each way to access financial services such as savings accounts or small loans that can improve their lives. Banks are often reluctant to service them due to their small amounts of savings. When these residents pool together their savings however they can better manage crises invest in their small businesses and gain financial independence. The IAF supports community-led solutions to promote inclusive economic development. Our grantee pedazo POR pedazo UN mundo mejor philanthropiece AC (PPAC) is identifying training and mentoring local leaders to help rural communities in baja california SUR form savings groups that provide financial services while also building trust and accountability among their members. PPAC is also training local promoters to replicate the community savings groups model in new communities allowing more local residents to provide for their own financial needs.