Mexican government provides interest free loans to indigenous artisans

The Mexican government and the government of Veracruz joined forces to provide interest free loans to indigenous and Afro-Mexican women in the state of Veracruz.

Over 3,000 artisans joined the ApoyArte program in less than two months. The initiative provides these women with credits of 10,000, 20,000, and 30,000 pesos to buy raw materials, tools, and supplies. These loans do not require interests, commissions, guarantees, or collateral.

Governor Rocío Nahle García stated that authorities delivered around 200 million pesos in support during an event at the Takilhsukut Theme Park in Papantla. The program targets women over 18 years old who make handicrafts. In addition to funding, the program offers training to help these women improve their marketing skills and secure fair pay for their work.

The government of Veracruz also plans to host exhibitions at the Macroplaza in the port of Veracruz and other national fairs to help sell regional products like coffee and handicrafts. The initiative addresses a gap in financial inclusion for indigenous people in Mexico. The 2024 National Survey of Financial Inclusion reported that only 20.7 percent of people who speak an indigenous language have access to formal credit.

This is significantly lower than the 37.3 percent access rate for the general population. The survey also found that 60.9 percent of indigenous women have at least one formal financial product, such as a savings account or an insurance policy.