Access issue 7 of “Progreso” in Spanish and in English
The latest issue of “Progreso: Corporate Governance, Inclusion and Development”, the quarterly legal bulletin of the BBVA Microfinance Foundation (BBVAMF), includes the Editorial “Measuring the development of the most important stakeholders: customers”. Rodrigo Peláez Peláez, Manager of the Department for Measuring Impact and Strategic Development (MIDE) of the BBVAMF, notes that “Focusing on the needs and development of entrepreneurs is the whole essence of the BBVA Microfinance Foundation”. He stresses that rigorous and detailed measurement of the social performance of its activity enables it to know more about how to develop the vulnerable entrepreneurs it serves, both financially and socially.
“The approach of measuring social performance is based on understanding how the key attributes of customers are changing as well as their productive activities,” Rodrigo Peláez highlighted. The MIDE Department is a mechanism of control and guidance in fulfilling the Foundation’s mission and ensures the integrity, consistency and completeness of this valuable information.
This new issue contains the most interesting answers from the experts interviewed in previous years: Ricardo Hausmann, Professor of Development Economics at Harvard University; Felipe González, Prime Minister of Spain (1982-1996); Claudio González Vega, Chairman of the Board of Trustees of the BBVAMF; Santiago Cantón, Human Rights Program Director of RFK Human Rights; Rebeca Grynspan, Iberoamerican General Secretary, and José Antonio Payet, founder of the Peruvian law firm Payet, Rey, Cauvi, Pérez Abogados.
It includes a Special mention to the Corporate Governance Code of the BBVAMF Group, which has been singled out by the magazine “Compromiso Empresarial”, published by the Fundación Compromiso y Transparencia (Commitment and Transparency Foundation), as one of The 10 best initiatives for transparency and good governance in 2015-2016, for contributing to the cohesion of the Group’s governance of microfinance institutions and for strengthening its commitment to transparency in relation to all its stakeholders.
In “Progreso” major policy developments are also summarized in the microfinance sector and the most recent international standards of corporate governance in Africa, Asia and the European Union.