Peru’s National Policy on Financial Inclusion and Its Alignment with Sustainable Development Goal I

Ticona Machaca, Alejandro; Gutiérrez Castillo, Félix Henry; Turpo Aliaga, Bertelly; Cano-Ccoa, Dominga Micaela; Yucra Quispe, Roger; Cahuana Sanchez, John Herbert; Duran Ttito, Corina Nanci; Malaga-Yllpa, Yasser; Silva Flores, Lourdes Janet; Callupe-Cueva, Paulo Cesar

doi:10.3390/su16104151

Peru’s National Policy on Financial Inclusion and Its Alignment with Sustainable Development Goal I

Author(s)

Ticona Machaca, Alejandro

Universidad Nacional del Altiplano

Gutiérrez Castillo, Félix Henry

Universidad Nacional del Altiplano

Turpo Aliaga, Bertelly

Universidad Nacional del Altiplano

Cano-Ccoa, Dominga Micaela

Universidad Nacional de Juliaca

Yucra Quispe, Roger

Universidad Nacional del Altiplano

Cahuana Sanchez, John Herbert

Universidad Peruana Unión

Duran Ttito, Corina Nanci

National University of Saint Anthony the Abbot in Cuzco

Malaga-Yllpa, Yasser

Universidad Andina del Cusco

Silva Flores, Lourdes Janet

Universidad Nacional de San Martín

Callupe-Cueva, Paulo Cesar

Universidad Nacional Intercultural de la Selva Central Juan Santos Atahualpa

Date Issued

15 de mayo de 2024

Type

Article

Publisher

Multidisciplinary Digital Publishing Institute (MDPI)

Volume

16

Issue

10

Series/Report No.

Sustainability

Contained in

Sustainability (Switzerland)

DOI

10.3390/su16104151

ISSN

2071-1050

Abstract

This article analyzes the implementation of the National Financial Inclusion Strategy (NFIS) and its alignment with Sustainable Development Goal (SDG) I: Eradicate poverty. Despite the progress achieved, structural gaps persist and substantially limit the NFIS’s contribution to poverty reduction, especially among rural, indigenous, extreme poverty, and other vulnerable groups. The article employs a mixed methods approach combining qualitative and quantitative techniques. On the qualitative side, a hermeneutic documentary analysis of the NFIS and related regulations was carried out, with a critical textual interpretation supported by specialized software. Quantitatively, descriptive statistical techniques were applied to analyze official financial inclusion indicators—methodological integration was achieved through analytical triangulation under a concurrent mixed methods approach. The progress of initiatives under the NFIS was evaluated, identifying limitations such as the digital divide in rural areas, limited financing for Micro and Small Enterprises, gaps in financial education, and growing exposure to digital fraud. Although the NFIS promotes greater access to financial services, it does not explicitly focus on the poorest and most excluded populations. Therefore, it is recommended that the objectives and indicators of the NFIS be reformulated to focus on universal access and effective use of financial services by the population in extreme poverty and chronic exclusion. In addition, a strategic articulation with social protection policies is necessary, as well as promoting culturally relevant microfinance and inclusive finance models, strengthening consumer protection, and consolidating public–private alliances in high-poverty areas. Finally, strong monitoring and accountability are also key.