During a meeting with the president of the IDB, the position of the BBVA Microfinance Foundation in Latin America, its role in the peace process in Colombia, and the regulatory environment throughout the region have been discussed
- Luis Alberto Moreno and Javier Flores, CEO of the BBVAMF met to reinforce the collaboration of both institutions in the areas of innovation, financial literacy and ethnic minorities.
- The post-conflict situation in Colombia and the regulatory environments were among the matters discussed at the meeting, which precedes tomorrow’s presentation by the Inter-American Investment Corporation.
- The Inter-American Development Bank (IDB) and the BBVA Microfinance Foundation have worked together since 2007 to further the progress of vulnerable people in Latin America.
The president of the IDB, Luis Alberto Moreno, held a working meeting this morning in the head offices of the BBVA Microfinance Foundation in Madrid, accompanied by senior executives from the Inter-American Investment Corporation (IIC). At this encounter with the CEO, Javier Flores and the BBVAMF Board of Directors analyzed the joint project of both institutions and laid out the next steps in the collaboration agreement, begun ten years ago.
The topics of discussion included the position of the BBVA Microfinance Foundation in Latin America, its role in the peace process in Colombia, and in the regulatory environment throughout the region.
“We are willing to collaborate in any of the Foundation’s projects”, declared the president of the IDB, who expressed interest in the BBVAMF’s role in Colombia after the conflict.
“For some time the Foundation has been working in affected areas with a training program, and serves almost 7,000 victims of the conflict. A plan is currently being designed to reinforce the branch office network in these areas”, declared Javier Flores.
The BBVAMF and the IDB have been working together since 2007 in several areas including funding, innovation, ethnic minorities, corporate governance, women, and financial literacy. This alliance was highlighted in 2016 with the signing of a memorandum of understanding between Francisco González, BBVA chairman, and Luis Alberto Moreno, president of the IDB. The document lays down the lines of action to promote and encourage microfinance activity in Latin America.
This visit takes place immediately before the presentation by the Inter-American Investment Corporation, a multilateral body and member of the IDB Group that promotes economic development in Latin America and the Caribbean through the private sector. During this event, to be held tomorrow at ICEX, BBVA will share its experience as a Spanish investing company in the region.
First meeting of the BBVAMF on its tenth anniversary
The working meeting with the president of the IDB marks the start of the BBVAMF’s institutional agenda for 2017. Javier Flores took the opportunity at the meeting with Luis Alberto Moreno to personally invite him to the key commemorative acts of the tenth anniversary of the Foundation, whose honorary president is Queen Letizia.
In its ten years of activity, the institution has disbursed more than 8.3 billion dollars in loans to five million underprivileged entrepreneurs. The Foundation currently serves 1.8 million people in Latin America, over half of whom are women. According to the IDB, this region is home to the highest percentage of female entrepreneurs in the world. Additionally, women obtain 20% higher earnings with half the capital investment of men.