Presentation given at Bank of New York Mellon for Latino Heritage Month 2013 in collaboration with Bank of NY Mellon and New Horizon Investments/ The Garifuna Coalition

1. Information Security Identification: Confidential
LATIN AMERICA: A STORY OF DIVERSITY,
CULTURAL IDENTITY AND ECONOMIC
DEVELOPMENT
Presented by IMPACT
October 3, 2013
Moderated by Mayra Sacco - BNY Mellon Government Programs
Panelists: Dino Sani - BNY Mellon Treasury Services Latin America
Amilcar Priestley - AfroLatin@ Project
Jose F. Avila - New Horizon Investments

2. THE AFROLATIN@ PROJECT
Founded in 2005 via a Ford Foundation grant, The Afrolatin@ Project
(afrolatinoproject.org) works to empower Afrodescendant communities in
Latin America and the Caribbean and to document their experiences using
digital tools. The Project develops strategies for using technology for social
and economic inclusion.
Mobile Telephony in Latin America & the
Caribbean Argentina- 66%/141.8%
Bolivia- 12%/66%
Colombia 50.4%/103.7%
CR-43%/110%
DR38.7%/91.9% as of „11
Panama-27.7%-96.4%
Paraguay-17.1%/96%

3. MOBILE BANKING AND MICRO-FINANCING IN
DEVELOPING COUNTRIES
• M-banking is delivery of financial services outside conventional bank branches
using mobile phones and nonbank retail agents.
• M-banking initiatives in 72 countries; 41 started in 2012. Most successful m-
banking initiative to date is M-Pesa in Kenya, recently replicated in India.
• Combining m-banking and microfinance may increase access to credit, loans,
savings and deposits.
• Impediments: Lack of mobile infrastructure; regulatory issues; concerns of
traditional banks; products not publicized so much of community does not use;
other alternatives.
• Proposed solutions: Partnerships between banks and regional mobile network
operators to create “agent networks” made up of small business owners and
airtime resellers can be supported via microfinance. Assess local needs,
partner with state, NGO‟s & cooperatives.

4. Gross Domestic Product in Latin America
Projected
Country 2010 2011 2012 2013 2014
Argentina 9.2 8.9 1.9 2.8 3.5
Brazil 7.5 2.7 0.9 3 4
Chile 5.8 5.9 5.5 4.9 4.6
Colombia 4 6.6 4 4.1 4.5
Ecuador 3.3 8 5 4.4 3.9
Paraguay 13.1 4.3 -1.2 11 4.6
Belize 2.7 1.9 5.3 2.5 2.5
Costa Rica 4.7 4.2 5 4.2 4.4
Honduras 3.7 3.7 3.3 3.3 3
Panama 7.5 10.8 10.7 9 7.2

5. Since 2000, New Horizon Investment Club has been turning the modest
contributions of its members into substantial returns. The investment club founded
by a handful of Honduran immigrants in New York City, most without even a
personal savings account, now has a portfolio worth nearly a quarter of a million
dollars.
New Horizon Investments
• Diaspora Economic and Financial Empowerment aim should be to become
promoters of the Economic development of our countries of origin.
• Goal will be to increase multiplier effect of our investments in our local
economies, by pursuing community level investments in commercial or productive
infrastructure.
• Develop local markets in our communities of origin.
Goals

6. The Garífuna Culture as
Economic Development
Making Capitalism and the Free Enterprise System Work for Poor People!
Development of an infrastructure within poor communities, for economic
development, business development, and job creation.