Peru child creates bank that provides benefits in exchange of recycled material

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A 10-year-old child from Arequipa, Peru has created a bank where children can receive healthy food or school supplies in exchange of recycled material as part of his proposal to address poverty and instill a saving culture among school students.

Jose Quisocala’s idea came up when was only 7 years old after he attended his father’s class at Universidad San Agustin and decided to put into practice what he heard.

He had observed the amount of money his classmates used to spend every day on albums or toys, which ended up on the floor.

So he told them to bring their used notebooks and bottles to get microcredits in exchange, “because there are many children that have nothing to eat since their parents don’t have enough money or have no job; they therefore stop attending school as they have no educational material.”

Once kids have 5 kg of recycled material, they receive a card at the aforementioned bank, which this year is sponsored by Banco Azteca.

They can later use their accumulated microcredit to get essential products, school supplies, or even small electrical appliances such as rice cookers or electric water boilers.

This world-renowned boy has even asked the State of Peru to include financial education in the school curricula in order to reduce poverty.

His voice is already heard at the United Nations and he dreams of becoming an environment minister.

Quisocala is currently in Lima and he would like to take part of the UN Climate Change Conference, COP20, to see delegates and negotiators in action.

He would like to ask Environment Minster Manuel Pulgar-Vidal to ensure a pollution-free environment in the capital city, Lima, as he has seen a lot of rubbish accumulated in the streets.

This young school student is the manager of the student cooperative bank “Bartselana,” which he founded two years ago in Arequipa.

He is also an international volunteer member of the United Nations Youth Committee for Latin America and the Caribbean, ambassador of the program “Pon de tu parte” (Play Your Part), and the mayor of his school.

In addition, he teaches finance and environment courses to children and youth on Tuesday, Thursday and Saturday in the afternoon.

His idea has already been presented in international forums. Jose came second in the Child and Youth Finance International (CIFY) contest held in Istanbul, Turkey, and won the Financial Inclusion: the Youth Financial Landscape Award organized by the UN and CIFY in New York.The young Arequipeño developed the idea at just 7 years old.

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