BBVAMF, Platinum Award at the Global SME Finance Awards for supporting SMEs through innovative financing

The BBVA Microfinance Foundation (FMBBVA) has received the Platinum Award, the highest distinction, in the category of “SME Financier of the Year” in Latin America and the Caribbean, at the Global SME Finance Awards 2024.

This prestigious recognition is awarded by the SME Finance Forum, an initiative created by the G20 countries and administered by the IFC (World Bank Group) to highlight institutions that offer outstanding products and services to small and medium-size enterprises (SME).

With a record number of entries for the 2024 edition, the jury assessed the scope, innovation, effectiveness, impact, dynamism and scalability of the participating institutions in four categories. In addition, they also recognized institutions that finance women’s entrepreneurship, create innovative products and implement sustainable bonds.

The award ceremony took place in Sao Paulo, Brazil, as part of the Global SME Finance Forum, an event that brings together world leaders in the financial sector to discuss the future of micro and small enterprises, in this edition under the theme “The transformative role of AI in accelerating digital and sustainable transitions in SME finance”.

According to Qamar Saleem, SME Finance Forum CEO, “These awards honor the outstanding achievements of institutions that finance small businesses. We believe in the power of innovation and collaboration that play their rightful role in economic growth and job creation. The Global SME Finance Forum Awards are the pinnacle of global recognition for organizations that are making a real impact in this area.”

For his part, Javier M. Flores, CEO of BBVAMF said, “This award motivates us to remain committed to the sustainable development of entrepreneurs in vulnerable situations. Our work goes beyond offering financial services: we seek to remove barriers that limit their opportunities. Everything we do is aimed at helping them to progress, to improve their lives and those of their families”.

The BBVA Microfinance Foundation, a non-profit organization created in 2007 by the BBVA bank, has the mission of fostering the sustainable and inclusive economic and social development of entrepreneurs in vulnerable situations, and stands out for its innovation. Since its inception, it has served more than 6 million low-income entrepreneurs and has disbursed more than $20 billion in loans, consolidating its position as one of the philanthropic initiatives with the greatest social impact.