The WSBI reinforces its social commitment and calls for global cooperation in the face of economic uncertainty

The World Savings and Retail Banking Institute (WSBI) held its 34th General Assembly and 4th Social and Philanthropic Council this week in Washington, coinciding with the annual meetings of the International Monetary Fund (IMF). Representatives from 82 retail banks and savings banks in 59 countries participated in the WSBI meetings, in a global context marked by economic volatility and social challenges. In his opening address, Isidre Fainé, president of the "la Caixa" Foundation, CECA, and WSBI, warned that "the current international economic landscape has been characterized by persistent volatility and continuous adjustments." He noted that trade tensions, geopolitical instability, and structural imbalances "have created a complex and fragmented environment," exacerbated by inflationary pressures, disruptions in the energy market, and regulatory uncertainty.

Despite this scenario, Fainé highlighted several positive signs, such as "renewed strategic cooperation efforts, fiscal initiatives to sustain growth, and technological innovation that strengthens competitiveness." For the WSBI president, "only through collaboration and forward-looking strategies can we build a more stable, inclusive, and dynamic global economy."

During the working sessions, the regional presidents of the WSBI groups in Europe, the United States, Asia, Africa, Latin America, and the Caribbean presented the progress and challenges in each area.

$4 billion annually for social initiatives

The WSBI reaffirmed its commitment to social impact. Member organizations have increased their annual funding to nearly $4 billion for projects that contribute to poverty reduction, youth empowerment, women's entrepreneurship, elder care, and environmental sustainability. This was confirmed at the 4th Social and Philanthropic Council meeting, held during the event, which this year focused on youth empowerment, especially for young women. Financial literacy, job creation for disadvantaged groups, and the promotion of partnerships between WSBI members and major players in global philanthropy were other key areas of focus. Fainé, who also chairs this Council, thanked its members for their commitment and encouraged them to continue expanding it: "In times of uncertainty, investing in people, fostering trust, and acting with purpose are essential actions for a future that is not only economically viable but also socially just." The president emphasized that strengthening social cohesion "is a strategic priority for the WSBI," and reminded them that its members, "rooted in their communities and guided by the values of inclusion and responsibility, have a key role in supporting vulnerable groups and promoting financial inclusion." "These efforts are fundamental to building resilient societies," Fainé concluded.