The Paraguayan government officially presented the National Financial Inclusion Strategy (ENIF) 2026-2031 on Wednesday, a state plan that updates the policy initiated in 2013 and seeks to evolve from simple banking access to responsible and secure use of financial services.
The launch ceremony took place at the Salón de Convenciones of the Central Bank of Paraguay (BCP) and was attended by President Santiago Peña, Minister of Economy and Finance Carlos Fernández Valdovinos, and authorities from the BCP and the National Institute of Cooperativism (Incoop). The plan was developed by the National Committee for Financial Inclusion (CNIF), led by the Ministry of Economy and Finance (MEF), with the participation of more than 160 representatives from about 40 public and private institutions.
The strategy emerges in a context of alert due to rapid growth in consumer credit in the country, a trend that the International Monetary Fund (IMF) has already drawn attention to. Authorities highlighted that, although access to banking services jumped from 20% of the population in 2012 to nearly 62% currently, it is necessary to combat overindebtedness that affects families and micro, small, and medium enterprises (MSMEs).
The plan is structured around four main objectives: expand access to and effective use of formal financial products; promote financial education for responsible decision-making; strengthen the regulatory and supervisory framework to protect users; and boost physical and digital infrastructure to reduce territorial and connectivity barriers.
To fulfill these goals, ENIF envisions the implementation of 39 specific actions and prioritizes groups such as people in poverty (16% of the population), rural communities, self-employed workers, and MSMEs – which represent 75% of employment in the country, but of which only 56% access formal financing. Also in focus are older adults and the educational community, which includes more than 1.5 million students and 85,000 teachers.
In his speech, President Santiago Peña emphasized the need for coordinated work among all sectors for the strategy to be effective. "This strategy must belong to everyone, and to the extent that everyone participates, this strategy can truly be as effective as possible," he stated.
The plan's execution will include a monitoring and follow-up system to periodically evaluate progress and results, with the ultimate goal of consolidating an inclusive financial system as a tool for social and economic development throughout Paraguayan territory.