According UNHCR (United Nations High Commissioner for Refugees) spokesperson William Spindler at a press briefing at the Palais des Nations in Geneva, the UNHCR has signed an agreement worth USD 700,000 with Venezuelan microfinance institution (MFI), Banco del Pueblo Soberano. The grant will be used by the bank to distribute micro-credits to about 10,000 Colombian refugees and asylum seekers in Venezuelan border states of Zulia, Táchira and Apure, and some 200,000 unregistered Colombians who are seeking international protection in Venezuela from civil conflict.
In addition to receiving low-interest loans for start-up projects in agriculture, fishing, farming, small-scale manufacturing and commerce, beneficiaries will also be trained in small business management, accounting, and other basic skills. The bilateral agreement will not only open doors for Colombians who lack identity documents and thus, access to financial services and labor markets, but also positively impact the economic development of border areas.
The UNHCR, an agency mandated to lead and coordinate international action for the protection of refugees and the resolution of refugee problems worldwide, was established in December 1950 by the United Nations General Assembly. Since its inception, UNHCR has aided an estimated 50 million people in exercising their right to seek asylum and safe refuge, with the options of returning home voluntarily, integrating locally, or resettling in a third country. The agency currently has 6,289 active staff working in more than 110 countries. The Executive Committee of the High Commissioner’s Programme (ExCom) consists of 72 member States and meets annually in Geneva. The Executive Committee Bureau is led by Chairman H.E. Ambassador Love Mtesa, Vice-Chairman H.E. Ambassador Wegger Strommen, and Rapporteur Emina Tudakovic.
The Banco del Pueblo Soberano was founded by President Hugo Chávez Frías in October 1999, and is now one of the largest MFIs of the Venezuelan government with 23 branches providing financial and non-financial services. The bank is currently led by ten members of the Directive Committee and President Dario Enrique Baute Delgado. It does not currently report to a third-party performance evaluator, nor to the MIX Market, a microfinance information clearinghouse.
By Mary Fu
Additional Resources:
United Nations High Commissioner for Refugees (UNHCR): “UNHCR signs agreement with Venezuelan ‘Banco del Pueblo Soberano'”
UNHCR: Basic Facts
UNHCR: ExCom
UNHCR: Executive Committee Bureau
Banco del Pueblo Soberano: History
Banco del Pueblo Soberano: Regional Coordinates
Banco del Pueblo Soberano: Directory
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