Workshop on Microfinance and Financial Products

img_6933At the end of October Jos van der Sterren was in Cuba to provide a workshop on “Financial Products for Entrepreneurs and Microfinance”. Apart from being Director to the Academy for Tourism (NHTV) at the University of Applied Sciences in Breda, the Netherlands, Jos is a well-experienced Inclusive Finance Consultant for Ayani BV.  He brings lots of knowledge on microfinance to Cuba which allows us to assist the Cuban entrepreneurs with unlocking (development) opportunities, giving them the possibility to improve their lives as well as the lives of their loved ones

img_6940During his workshop on Wednesday 26 October at the head office of ANEC Jos explained the ins and outs of microcredits and other financial products that might be of interest to entrepreneurs (saving account, insurance). By providing training on microfinance and financial products we intend to expand access to financial tools and improve the access to funding.

There are three Cuban banks that provide microcredits to Cuban entrepreneurs. In general, Cubans are not used to go to a bank to apply for a loan. This is caused by aspects like lack of confidence, cumbersome conditions, as well as poor knowledge of financial products and services on both sides. Therefore we aim to offer financial training programs to both groups, the Cuban entrepreneurs and the bankers. In the light of training the banks we are discussing a collaboration with the United Nations Development Program (UNDP) in Cuba, regarding technical assistance to the banks providing microcredits to entrepreneurs. Of course, we will keep you updated on the developments.