Panama setting financing mechanisms for families with informal incomes

The majority of the population of Latin America has informal sources of income, which significantly complicates their access to credit and banking systems, stated the Minister of Housing and Territorial Planning of Panama, Jaime Jované Castillo, at WUF13 in Baku, Report informs.

He noted that banks do not support these families because their incomes are informal.

"As a government, we must create grant and financing systems. Currently in Panama, we are studying how the public banking system can recognize informal labor, at least in the construction sector," he said.