They will develop innovation technology projects and financial inclusion to improve the lives of low-income, vulnerable populations
Microsoft and BBVA Microfinance Foundation have signed a partnership to join forces and collaborate in contributing to the inclusive and sustainable social and economic development of vulnerable societies, to transform communities in need and create a social change.
The BBVA Microfinance Foundation actively works to improve living conditions of low-income people by financing their productive activities, undertaking innovation and developing financial products and services, as well as training that are adapted to their needs. For their part, Microsoft aims to empower everyone, putting special focus on collective populations and risking inclusion by facilitating technologies that promote creativity and entrepreneurship.
Thanks to the agreement signed today by Javier M. Flores, CEO of the BBVA Microfinance Foundation and Pilar López, president of Microsoft Iberica, both organizations will collaborate to achieve higher efficiency in activities, putting emphasis on:
- Developing projects that improve lives of low-income entrepreneurs as well as women in vulnerable conditions
- Promoting innovation technology programs in financial inclusion for vulnerable people
- Promoting educational programs among the target groups, providing innovative technological support, resources and tools
- Collaborating the potential addition of public or private partners that would contribute to improve programs or projects undertaken jointly
Since its creation in 2007, the BBVA Microfinance Foundation, through its microfinance institutions, has disbursed more than 10.7 billion dollars in productive loans to more than 5 million low-income entrepreneurs. Through innovation, the Foundation develops a financial inclusion model that is more effective and adapted to the needs of the vulnerable groups, and which could also be extended to other population groups not reached by the formal sector. With this partnership, Microsoft becomes a strategic ally to achieve it.
“With this partnership, we will continue to push our confidence in innovation technology to support the progress of low-income people, and those who are generally excluded”, confirms Javier Flores, CEO of the BBVAMF.
“We are totally committed to help everyone and every organization in the world to achieve more. We want to take part in generating growth, competitiveness and economic opportunity for all, with special focus on groups that are in risk of exclusion, or those in vulnerable situations. The agreement with the BBVA Microfinance Foundation takes us one step towards this mission”, declared Pilar López, president of Microsoft Iberica.