Joelma Vieira da Silva utilizes a microloan in her effort to combat climate change.
In the bustling city of São Paulo, Joelma Vieira, a mother and businesswoman, runs a thriving bicycle repair shop specializing in accessories for cycling. Joelma's shop, which focuses on repairing bikes that are in bad shape, has become her primary source of income, thanks in part to the support of Santander Prospera Microfinanzas.
Santander Prospera, an initiative by Banco Santander, is a financial inclusion programme aimed at providing financial services to micro-entrepreneurs in rural areas with high informality and low banking penetration. Operating in Brazil, Peru, Mexico, and Colombia, Santander Prospera has helped over 86,000 customers across more than 700 municipalities by offering microloans and other financial products[1].
The success of Santander Prospera has led to it being recognized as the "Best Bank for SMEs in Latin America" by Euromoney in 2021. The programme has boosted the business of over 1.6 million entrepreneurs, including Luz María Moncayo, Priscila Presley, Virginia Álvarez Castillo, Rita de Cássia, and Mercedes Cruz Hilpas, who are all testimonies to the impact of Santander Prospera on small businesses and entrepreneurship in Latin America.
The importance of cycling in fighting climate change cannot be overstated. Cycling is considered a healthful and inexpensive alternative mode of transport, and it accounts for a small fraction of the world's CO2 emissions compared to other modes of transport. In the automotive industry in Latin America and the Caribbean, fuel combustion-related GHG emissions account for 35%. By supporting entrepreneurs like Joelma, Santander Prospera is helping to promote sustainable transport and reduce carbon emissions.
While the initiative is not specifically focused on climate change, by providing financial services to rural areas, it can indirectly support local economies and help families sustain their livelihoods. This can be especially beneficial in regions where environmental impacts are significant, as financial stability can empower individuals to make more sustainable choices.
Joelma's husband assists in upgrading the bikes at the shop, and with the loan she received, Joelma has been able to save for her children's future. The success stories of entrepreneurs like Joelma demonstrate the unique value proposition of Santander Prospera to help small business owners and their communities grow.
In conclusion, Santander Prospera Microfinanzas has played a significant role in promoting financial inclusion and entrepreneurship in Latin America. By providing financial services to micro-entrepreneurs, Santander Prospera is helping to boost local economies, support families, and promote sustainable transport. The programme's impact extends beyond the financial realm, contributing to a greener and more prosperous future for Latin America.
[1] Source: Santander Prospera website [2] Source: United Nations Environment Programme (UNEP) [3] Source: International Energy Agency (IEA) [4] Source: World Bank Group [5] Source: Inter-American Development Bank (IDB)
- The financial inclusion program Santander Prospera, recognized as the "Best Bank for SMEs in Latin America," has benefited over 1.6 million entrepreneurs, including Joelma Vieira, who runs a bicycle repair shop that promotes sustainable transport and reduces carbon emissions.
- By providing microloans and other financial products, Santander Prospera indirectly supports local economies, empowers individuals to make more sustainable choices, and contributes to a greener and more prosperous future for regions where environmental impacts are significant.
- Salvaging and upgrading bikes at her shop, Joelma Vieira's primary source of income, helps combat climate change as cycling accounts for a small fraction of the world's CO2 emissions compared to other modes of transport.
- While financial inclusion initiatives like Santander Prospera are not primarily focused on climate change, they play a crucial role in promoting lifestyle choices that align with conservation efforts in the environmental-science and business sectors, as well as in the sports world, where reducing carbon footprints can have a substantial impact.
