Mobilizing Finance to Migrant Communities (and Beyond)

In Venezuela, hyperinflation, corruption, supply shortages, and violence have forced over 6 million people to flee their homes in search of safety and opportunities elsewhere — resulting in the second largest international displacement crisis in the world. Colombia hosts the largest population of Venezuelan migrants, estimated at 1.6 million, and is tasked with the challenge of economically integrating migrants into the Colombian economy. The Colombia Rural Finance Initiative (RFI), during its extension, implemented supply and demand side interventions to help mobilize finance to migrants.

On October 27, 2022,  USAID and Chemonics hosted a webinar discussing key lessons from the Colombia RFI experience and dive into how they overcame cultural misconceptions and structural barriers to reach Venezuelan migrant clients and mobilize $11 million in finance. Following this project deep dive, a diverse panel of speakers shared reflections on lessons learned and principles that can be applied to other traditionally financially excluded groups.

This webinar is part of the Mobilizing Finance for Development (MF4D) webinar series, a series that explores how innovative financing solutions can be used to address development challenges.

Access the webinar recording online. (Password: XwvPFZf3)

Speakers

Estefania McPhaul
Global Practice Lead, Economic Growth and Trade Practice, Chemonics

Timothy Nourse
President and CEO, Making Cents International

Felipe Orjuela
Project Management Specialist, Economic Integration, Venezuela Response and Integration Office, USAID/Colombia

Johanna Klein
Head of People, MOVii

Asdrubal Negrete
Former Chief of Party, Colombia Rural Finance Initiative

Biographics

Estefania McPhaul
Global Practice Lead, Economic Growth and Trade Practice, Chemonics

Estefania McPhaul is an international development specialist with more than ten years of progressive experience managing economic growth programs globally for donors like USAID, the World Bank, and the Interamerican Development Bank. In her current role as Economic Growth and Trade Global Practice Lead at Chemonics International, Ms. McPhaul oversees Chemonics’ corporate economic growth strategy, advises proposals and projects on industry trends and best practices, and engages in impactful thought leadership. Ms. McPhaul holds a master’s degree in International Trade and Investment from George Washington University and a Bachelor’s in Economics from Washington and Lee University.

Timothy Nourse
President and CEO, Making Cents International

Timothy Nourse is a financial inclusion specialist with over twenty years’ experience building the capacity of institutions to serve vulnerable populations and the capability of excluded groups to utilize services effectively. He has helped establish successful microfinance institutions, advised financial institutions on serving new markets, and led national financial sector strengthening programs. His work spans both easier to reach adult and urban populations, as well as more difficult rural, ex-combatant, refugee and youth clients who require more tailored solutions.  With refugees and migrants in particular, Tim has conducted assessments and market assessments in Africa, the Middle East, and Latin America, assisted financial institutions to adapt products to refugee needs, and developed cross-border credit history and digital identity mechanisms.

Felipe Orjuela
Project Management Specialist, Economic Integration, Venezuela Response and Integration Office, USAID/Colombia

Felipe Orjuela is an economic integration specialist in the Venezuela Response and Integration Office in USAID/Colombia, where he oversees programs focused on economic integration of migrants and post-pandemic economic recovery. Prior to joining USAID, he has worked with NGOs and private companies such as Procter & Gamble, Compartamos con Colombia, and Climate Focus, designing and implementing sustainability strategies and business models, strengthening value chains, and coordinating multi-stakeholder platforms to monitor progress on commitments focused on climate change mitigation. He has a Bachelor’s degree in Economics from the Universidad de los Andes and a Masters of Public Policy from the Hertie School of Governance in Berlin.

Johanna Klein
Head of People, MOVii

Ms. Klein is a human resources professional who serves as the Head of People at MOVii. With more than six years of experience working in dynamic technology companies, Ms. Klein is passionate about developing end-to-end strategies for people working in startups and finding ways to generate impact through human resources. Ms. Klein has a degree in psychology.

Asdrubal Negrete
Former Chief of Party, Colombia Rural Finance Initiative

Asdrubal Negrete Lebette was the Chief of Party of the Colombia Rural Finance Initiative, where he worked with banks, anchor firms, and producers to design and pilot innovative finance mechanisms to help smallholders, small and medium enterprises to access credit and other financial services. Asdrubal has over 25 years of experience in microfinance, credit risk analysis, financial inclusion, digital financial services, value chain finance and financial services information systems. Asdrubal has a B.S. in systems engineering from the Universided Piloto de Colombia, a certificate in financial administration from the Escuela de Administacion de Negocios in Bogota, and an M.B.A from the Universidad Externado de Colombia.