In the coming months, a financing company plans to issue social bonds with a total value of 150,000 million to participate in the broader financial market. These bonds will represent a pioneering placement in the Colombian market, adopting a strategy designed to broaden access to finance for underserved segments. The move signals a deliberate push to channel capital toward financial inclusion initiatives, aiming to create meaningful, measurable participation in the local economy through socially oriented funding.
“Financial access within the enterprise means opening doors for people who have traditionally been unbanked or underserved by conventional lending systems. It seeks to provide affordable, timely, and suitable access to quality financial channels, products, and services that individuals can use effectively to meet daily needs and improve overall well‑being,” explained Tuya Leader, as quoted by Carlos Iván Villegas. The emphasis is on practical solutions that fit real life, offering people reliable pathways to manage money, save, invest, and protect themselves against financial shocks.
That objective aligns closely with Tuya’s broader mission, which centers on including Colombians who earn less than two times the minimum wage and who have had little or no formal interaction with the financial system. The strategy recognizes the importance of bridging the gap between ordinary workers and formal financial services, a gap that has historically limited opportunities for upward mobility and financial resilience.
Official data from the National Administrative Department of Statistics (Dane) illustrate the scale of the challenge: in 2021, about 84.5% of the employed population in Colombia earned less than two minimum wages. Moreover, Opportunity Bank’s findings indicate that only about 37% of individuals aged 18 or older held a loan product, underscoring a sizable portion of the population without access to credit or basic banking facilities. These figures highlight the potential impact of social bonds that explicitly target financial inclusion, aiming to unlock credit access and a wider spectrum of financial services for everyday life and long‑term planning.
Villegas added that the issuance of secondary social bonds dedicated to financial inclusion would allow the company to mobilize additional resources to support Colombians as they enter the formal financial system. By financing products and services that simplify daily routines and expand opportunities, the initiative seeks to catalyze positive, lasting transformations in the lives of many households. The approach prioritizes scalable impact, ensuring that funds reach initiatives with clear, verifiable benefits for financial literacy, access to affordable credit, and the ability to manage income and expenses with greater confidence.
Source: Lare Publica