Key facts:
El Salvador will show its government programs based on bitcoin.
The event was organized by an organization that works on the inclusion of the unbanked population
President Nayib Bukele reported today that El Salvador is hosting a meeting that will include representatives of financial institutions from 44 countries. With them, he will talk about the adoption of bitcoin (BTC), among other financial topics.
Eight months after declaring bitcoin legal tender, Bukele will show the economic impact that the pioneering cryptocurrency has produced in the nation who drives.
to the appointment central bank and government officials from developing countries will attend, including Nigeria, Egypt, Nepal, Pakistan, Bangladesh, Kenya, Uganda, Rwanda, Paraguay, Angola, Guinea and Madagascar, according to the list of participants that Bukele public On twitter.
The 44 countries come from the African, Asian and South American continents. There are no representatives from Europe, North America, or Oceania. It is because the event was organized by the Alliance for Financial Inclusion (AFI), body that promotes the use of financial services for the inclusion of the unbanked population.
The event will be held until May 19 and “is aligned with the National Policy for Financial Inclusion recently launched by El Salvador, prioritizing digitization and access to financing for small businesses,” as stated by reported the Central Bank of the Central American country.
Bukele and his bitcoin-based programs for El Salvador
at the beginning of the year, the government of El Salvador launched a program, based on bitcoin, to grant financing to small and medium-sized companies in the country.
As CriptoNoticias reported at the time, micro and small companies that have funds in bitcoin can access loans to cover their liquidity needs or promote new projects that require investment.
To do this, the National Commission for Micro and Small Businesses (Conamype) of El Salvador joined with the decentralized finance (DeFi) protocol, Acumen, to grant loans in bitcoin at a low interest rate with the idea of favoring self-employed workers.
The scope of the Conamype program will surely be one of the topics discussed at the conference with visitors from 44 countries. This, taking into account that Bukele will speak about financial inclusion, the digital economy and the benefits that El Salvador has had after adopting bitcoin as legal tenderas noted on Twitter.
Although Bukele will focus on financial inclusion based on bitcoin, a study by the National Bureau of Economic Research (nber), published last month, indicates that bitcoin has had little impact in El Salvador, since more than 70% of the population remains unbanked. This is because most prefer to pay for their services and purchases with cash.
In addition, that is not the only difficulty that the Bukele government has faced in the last eight months, during which time it has received warnings about the use of bitcoin by the IMF and has had to delay the issuance of the so-called El Volcano bonds. Savior.