A group of retirees from several local councils in the municipality of Holguin recently began receiving their pensions in cash. Through a novel initiative involving non-state economic actors.
According to a Radio Holguin report, the joint initiative with the government and banking institutions aims to bring payments closer to beneficiaries. In response to the limited availability of cash. Also to avoid the long and exhausting lines that senior citizens face at bank branches.
The report indicates that approximately 5,000 pensioners are expected to receive their money this way through an additional cash service.
Nearly 20 Holguin-based micro, small, and medium-sized enterprises (MSMEs) have joined the initiative. Which will be implemented in stages, explained Ada Karenia Guerra, Deputy Mayor for the Economy in the municipal government.
Benjully Bar took the first step in this project by paying approximately 50 pensioners in the North City Center district.
Other local micro, small, and medium-sized enterprises (MSMEs) and businesses have also joined this pilot project. In the municipality of Holguin—home to more than 52,000 retirees—including Fajardo’s Pizza, La Emperatriz, Frenas Conmigo, Excelencia Reyes, Provarte, and LiuMonte, among others.
The measure is based on an official procedure issued by the Central Bank of Cuba (BCC). The BCC’s president, Juana Lilia Delgado Portal, instructed the expansion of this system. It allows the use of cash collected by local businesses to pay pensioners directly. Thus avoiding the need for the money to pass through the bank before reaching them.
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