Microfinance Foundation

The grants went to the children of micro-entrepreneur clients of Bancamía from all over the country, who will now be able to study at university thanks to the resilience, discipline, creativity and strength shown by their parents.

“It's the determined action in the countries where this foundation is present, and above all, the real transformation in so many peoples' lives, that urge us to hope and strengthens us,” Her Majesty said during the ceremony held to celebrate the 15th anniversary of the BBVA Microfinance Foundation (BBVAMF). BBVA Chair Carlos Torres Vila said, "in recent years the Microfinance Foundation has made a commendable effort to bring digitalization and connectivity to microentrepreneurs and their communities, as a driver of development and a gateway to opportunities." The event also served as the occasion to premiere the documentary 'After the Rain,' a tribute to the courage and resilience of the more than six million vulnerable people that the Foundation has supported over these past fifteen years.

For the first time in history, the number of displaced people around the world exceeds 100 million, according to the latest UNHCR data. In Ukraine alone, eight million people have fled since February. To put it into perspective, if a country were formed with all of them, it would rank as the fourteenth most populous on the planet as they are equivalent to more than 1% of the world's population. This figure includes refugees and asylum seekers, as well as the 53.2 million people displaced by conflicts within their own countries. Many of them flee with little and have to start from scratch, sometimes from an even more vulnerable situation. Their settlement and success in the country of settlement depends very much on their legal status because displaced, migrant and refugee are not synonymous.

In the past 15 years, around 1.5 billion adults have been included in the financial system, where microfinance has played a key role. Giovanni di Plácido, director of Analysis and Research for BBVA Microfinance Foundation (BBVAMF), recounts the creation of loans and monetary transactions to the advent of microfinance as a formula for inclusion, and the Foundation's leading role in the transformation of this sector in its 15 years of activity.

The BBVA Microfinance Foundation (FMBBVA) organized ‘Connected for digital opportunities’ - an event which H.M. The Queen presided over. BBVA Chairman Carlos Torres Vila, Bank of Spain Deputy Governor Margarita Delgado and the Director General of the BBVA Microfinance Foundation, Javier M. Flores, all participated in the event. The debate focused on boosting economic recovery from a more innovative and inclusive perspective through technology.

Sandra Ceballos is a single mother who besides tending to the needs of her four children, also takes care of the environment through her recycling business. Jessica Quipainao, also the primary breadwinner in her household, preserves her Mapuche heritage by making jewelry. Johana Jurado sells garments to leave a legacy for her daughter, and therefore strives to keep this small business afloat. They are just three of the 1.5 million women entrepreneurs across five Latin American countries that are thriving with help from the BBVA Microfinance Foundation (BBVAMF). Thanks to this work and its development finance initiatives, the Foundation is the top contributor to gender equality, according to the latest report by the Organisation for Economic Cooperation and Development (OECD).

The many manifestations of COVID-19 have made us susceptible to associating any of its wide-ranging symptoms to the virus and we forget that other conditions still exist and need to be tended to. More worrisome is the fact that globally, public health measures to control the pandemic, including mobility restrictions and prioritization of COVID-19 treatment, coupled with the economic crisis that is producing an increase in poverty, has made it even more challenging for low-income patients to access treatment in a timely manner. In Latin America, according to Pfizer, the number of medical consultations  and oncological visits nearly halved. Moreover, in the region, having medical coverage and access to basic health care is limited to very few people.

For yet another year, the Organization for Economic Cooperation and Development (OECD) has published the data reported by nearly 40 of the largest foundations in member countries of the Development Assistance Committee (DAC), to showcase the impact of private philanthropy. For second year running, the BBVA Microfinance Foundation (BBVAMF) ranks as the leading contributor to development in Latin America, and the world's second, next to the Bill and Melinda Gates Foundation.

45 minutes by motorcycle, half an hour by boat and 15 minutes on foot. That is how Sergio Pacheco and Victor Madera, loan officers of the BBVA Microfinance Foundation in Colombia, manage to bring financial services where no one else does. This journey is just one example among the numerous cases that can be found in the countries where the Foundation works. These are the lengths to which they go to reach those who live outside the financial system, which is another barrier to their progress. In 2020, BBVAMF has banked nearly 300,000 people in Colombia and Peru, and its two institutions combined have reached more than 2.1 million clients.

In order for women like Yamile Salazar or Ceneris Espitia – two BBVA Microfinance Foundation (BBVAMF) entrepreneurs - to advance in Latin America they require three basic conditions: financial independence, self-esteem and a sense of belonging, or social integration, among other things.

The Ibero-American Communication Association (ASICOM), together with the University of Oviedo and other iberoamerican institutions, awarded the work implemented by the BBVA Microfinance Foundation in Latin America, where it accompanies more than 2.3 million low-income entrepreneurs in five countries in the region. According to the organizers, this award acknowledges the work of the Foundation in “improving the standard of living of millions of people with their efforts.”

Carlos Torres Vila participated in an event sponsored by the BBVA Microfinance Foundation, entitled 'Unstoppable women: Challenges to and achievements of reinvention in times of crisis'. The event, chaired by Queen Letizia of Spain, shone the spotlight on the work of Latin American women entrepreneurs and technology’s key role in propping up their resilience against the economic impact of the pandemic. Development experts from organizations such as SEGIB (Ibero-American General Secretariat), the United Nations Development Program (UNDP), UN Women and representatives of technology companies such as Google also took part in the event.

When she was barely 20 years old, Yohana Sosa decided to open her own business, knowing that things won’t be easy. Her talent for enterprising is mixed with a sense of responsibility which all of us must have, when it comes to caring for the environment. This is how she created D’Alexis Cartonera, a micro business that recycles cartons and turns them into custom-made packaging material. Today, almost a decade later, Yohana is a pacesetter in her community as her business keeps growing with the support of BBVA Microfinance Foundation, and with it, a greater awareness on how important it is to preserve natural resources.

Much is said about financial inclusion's impact in people’s sustainable development: access to financial services is the gateway to an improved well-being and a necessary condition to guarantee equal opportunities, in addition to promoting growth. Institutions like the BBVA Microfinance Foundation facilitate this inclusion, something which, beyond its tangible value, empowers people to gradually enhance their financial management skills and, overtime, gain access to products and services from the formal banking system.

The 9th of August is the day the United Nations honors the indigenous people for their efforts in protecting biodiversity and a millenium-old culture. They comprise 6% of the world’s population but their territory houses 80% of the planet’s biodiversity. Indigenous communities possess valuable knowledge on how to preserve the environment and care for natural resources. However, they face challenges that put their survival at risk, such as the lack of basic services like health -especially during the COVID-19 pandemic- or access to finance. Among other obstacles that hinder their progress is the lack of infrastructure, but the language barrier is also significant.

An agricultural engineer, a painter, a baker, a shoemaker, Jorge Domínguez is a modern day “Renaissance Man.” He is also a 63 year old Venezuelan migrant in Pamplona, Colombia that fled his country three years ago in search of a better life for his family.

To know that they help improve people’s lives is what encourages Roberta, Fernanda, Omar, Yuriem and Teresa to face the day. As part of more than 4,000 microfinance officers of the BBVA Microfinance Foundation (BBVAMF) in five Latin American countries, they reach places where others don’t go, to make financial services more accessible to low-income entrepreneurs who need only an opportunity to develop their livelihoods.

Queen Letizia joined the BBVA Microfinance Foundation (BBVAMF) on a videoconference to discuss how COVID-19 is impacting Latin American micro-enterprises and to learn about the measures the foundation has put in place via its entities in the five countries it operates (Colombia, Peru, the Dominican Republic, Chile, and Panama).

2020 is a crucial year for women and girls, everywhere. We celebrate the twenty-fifth anniversary of the Fourth World Conference on Women and adoption of the Beijing Declaration and Platform for Action. It also marks the five-year milestone of the adoption of the Sustainable Development Goals. This year’s 64th Commission on the Status of Women (CSW) was deemed to be the big commemoration and opportunity to reaffirm these mandates. There are still significant and pervasive gender gaps in the economic and political participation of women all over the world. Progress is sluggish and if we are serious about achieving the 2030 Agenda we must step up the pace.

The Paris-based Organisation for Economic Co-operation and Development (OECD) has presented its report on private development financing. The study assessed more than 30 of the largest foundations in the OECD member countries and reveals that the BBVA Microfinance Foundation disbursed $1.2 billion in 2018. This represents 83 percent of the total of this kind of financing in Latin America, BBVAMF's sole operating region. BBVAMF thus places first in the region and second globally, after the Bill and Melinda Gates Foundation.

They are both refugees. Einstein, considered one of the greatest geniuses in history, fled Nazi occupied Germany to the United States in 1933 after his civil liberties were revoked and he was barred from his professorship for being an outspoken opponent of the government. Fortunately, Princeton University recognized his intelligence and offered him a job. A fortuitous event that changed his life and ours, yet for many refugees today, such opportunities are scarce.

"What would we do without data?” journalist Susana Roza asked at the opening session of Oracle Day, an annual event that took place in Madrid this year. More than 1,200 participants came together to talk about the future of technology. A question, if turned on its head, has an easy answer: "What can we do with data?" The possibilities are endless, as the more than 30 participating organizations — of which BBVA Microfinance Foundation (BBVAMF) was one — were able to confirm.

Angélica Valbuen lives in Cundinamarca, Colombia. She is 39 years old, works in the fields. A situation that destines them to financial exclusion if it were not for the work of institutions like the BBVA Microfinance Foundation, which helps over 150,000 women in rural areas of Latin America.

She dreams big because she’s not afraid to fail; because failure is not part of her equation. She says this with the authority of someone who’s endured a rough childhood and has a role model to look up to. Yamile Salazar is the daughter of a woman who decided to bring her to this world despite hardship, with the only certainty that she would be able to provide for her. And those past efforts are starting to pay off: Yamile’s life undeniably proves that everything is possible, because she’s built a future out of nothing. Today, 90 people, mostly women, work for her and thousands of young women dream to wear some of her “Angels and Princesses” designs, creations of the clothing universe that embodies Yamile’s passion.

Calama is a Chilean city known as the gateway to the Atacama desert. A barren place that smells of dust, salt and heat. However, it was the destination chosen by Gladys Chacana to rebuild her inner strength. At 73, this woman has something she would never even dared to dream of: a support network that makes life in this place a bit less arid.

Artist Lita Cabellut, an Air Force commander, a player of the national rugby team, a gas fitter and businesswoman, a science degree undergraduate and a truck driver and entrepreneur served by BBVA Microfinance Foundation have shared how, from their own experiences, an opportunity can change people's lives. The Queen has chaired the roundtable, where the current Minister of Economy, Nadia Calviño, BBVA group executive chairman Carlos Torres Vila and BBVAMF CEO Javier M. Flores have also participated.

Entrepreneurship held an important place in BBVA's 2016-2018 Community Investment Plan. The Group’s programs especially target entrepreneurs who are in vulnerable circumstances and those whose projects will have a positive impact on society or the environment.

The interactive game ‘Heroes’ has received the award for the Best Internal Communication Strategy for Change Management and Digital Transformation from Observatorio de Comunicación Interna (OCI), the Spanish association for internal communications. According to the award jury, "The BBVA Microfinance Foundation (MFBBVA) has backed a unique, innovative and educational tool instead of following along with a traditional approach based on emails, documentation, testing, and face-to-face classes."