BBVAMF wins UN Global Compact award for most innovative and sustainable institution
The BBVA Microfinance Foundation (BBVAMF) has won the prestigious go!ODS award for being the most innovative project in the 4th edition of the awards. Organized by the United Nations Global Compact in Spain and the Rafael del Pino Foundation, the event recognized BBVAMF among 500 submissions for its contribution to sustainable development.
Photo: María del Pino, president of the Rafael del Pino Foundation, and Clara Arpa, president of the United Nations Global Compact in Spain, present Javier M. Flores, general manager of the BBVA Microfinance Foundation, with the global award for this edition of the go!SDGs.
The go!ODS awards honor a project for each of the 17 Sustainable Development Goals (SDGs) annually, with a higher distinction given to the most innovative initiative overall. BBVAMF not only received the top prize for innovation but also the special award for SDG 1: End Poverty.
In its 17 years of operation, BBVAMF has provided over $19.6 billion in loans to six million low-income entrepreneurs across Colombia, Peru, the Dominican Republic, Chile, and Panama. By fostering opportunities to improve the lives of these entrepreneurs, their families, and communities, it has become a key player in combating inequality in the region. Impressively, 60 percent of entrepreneurs who were in poverty when they joined the Foundation have risen out of it within five years.
“For the BBVA Microfinance Foundation, reducing poverty and promoting sustainable development in Latin America has always been our guiding principle and our humble contribution to SDG 1,” said BBVAMF CEO Javier M. Flores. “This recognition gives us a further boost to morale. We will now move forward with even greater determination in our mission to build a world with equal opportunities and greater wellbeing for all.”
The go!ODS awards are promoted by the United Nations Global Compact in Spain and the Rafael del Pino Foundation, and recognise institutions that innovate and contribute to sustainable development.
Triple recognition from the Government of Panama: SDG Seal for Good Practices
BBVAMF’s Panamanian unit, Microserfin, earned triple recognition during Panama’s SDG Seal for Good Practices Awards, led by the social cabinet of the Government of Panama.
Microserfin won in the Digital Transformation category with its “Impulsamos Tu Negocio” program and in Women's Empowerment with its “Escala Mujer” initiative, while its “Casafin” project received an honorable mention in the Employment and Entrepreneurship category.
“These awards honor the entire team who help bring our purpose to life for the benefit of vulnerable communities,” said Edison Mejía, Microserfin’s CEO. “We continually support micro-entrepreneurs in their business and personal development, fostering real inclusion by covering 83 percent of the country’s townships both physically and digitally, ensuring no one is left behind.”
Mejía added, “These achievements put the spotlight on our work in sustainable development and inclusive growth and inspire us to keep driving progress for entrepreneurs, the cornerstone of our mission.”