The BBVA Microfinance Foundation (BBVAMF) has discussed its contribution to the Sustainable Development Goals, together with other Spanish and Portuguese organizations in the 10th Hispanic-Portuguese Meeting of Foundations. In his address, Technology and Data director for BBVAMF, Joao Costa, has explained the importance of digital revolution and partnerships for financial inclusion and microfinance, which the 2030 Agenda acknowledges to fulfill several of the 17 SDG, including SDG 1 “No Poverty”.
“To face such a big challenge, working together is necessary, as well as investing in technological innovation as an indispensable tool to achieve a higher and more sustainable impact”, he assured. He also shared that the Foundation, which actually serves more than 2 million people in Latin America, “innovates in microfinance and puts it at the service of entrepreneurs who are excluded from the formal financial sector, but who are capable of prospering with small businesses when given a chance.”
In the panel he shared with Ayuda en Acción, Acción contra el Hambre and Fundación Tomillo, he further shared that BBVA Microfinance Foundation combines the knowhow of BBVA – its founder- with the field experience of its six microfinance institutions in Colombia, Peru, Dominican Republic, Chile and Panama, through which it has already originated more than USD 11.7 billion in microcredits.
The 10th Hispanic-Portuguese Meeting of Foundations, organized by the Spanish Association of Foundations (AEF), among others, has gathered more than 70 foundations and NGOs to share good practices, future projects, and seek partnerships in the third sector that accelerate the progress of societies. AEF president Javier Nadal, has noted that the 2030 Agenda is “an extraordinary instrument that merges all the necessary objectives for the world to continue moving forward, and includes specific targets as well as a working methodology.”
This idea was taken up by the 2030 Agenda High Commissioner, Cristina Gallach, “We have a unique opportunity to change the world.” According to her, this challenge demands a joint effort with all sectors and raises the need to understand the complexity of the Agenda, to push for efficient leadership to implement it, and to mobilize the rest of the players. She added that “foundations have a key role” for these challenges.