Our Goal
To empower women economically so their enterprises can flourish, and improve their ability to impact their families and communities’ wellbeing, education and health.
The Challenge
We are the top global contributor to gender equality initiatives according to the OECD
The economic independence of women in Latin America suffered a historic setback due to the pandemic. The health crisis has aggravated already existing gender gaps with unemployment, loss of income, increase of job insecurity and “time poverty” considering the excessive amount of time dedicated to unpaid care and household work.
Their poverty and vulnerability levels have substantially increased over time. In 2020, there are 116 poor women for every 100 men. This figure is higher when referring to extreme poverty where it reaches up to 119.3 women.
Women represent 58% of the total jobs lost in the countries where BBVAMF is present, given that they are concentrated in retail commerce or hostelry, which were very much affected by the pandemic.*
56.3% of them were informal workers* and most of them decided to open up a business because of the lack of employment opportunities. To achieve this, financial inclusion is essential. However, 44.8% have no bank account (10 pp less than that of men’s account ownership).
The BBVA Microfinance Foundation, through its microfinance institutions, offers solutions to women that allow them to tend to their economic needs, strengthen their self-esteem and create support networks. (More information)
*Data from BBVAMF 2020 Social Performance Report
Source: OECD Report – Development finance for gender equality and women’s empowerment: A 2021 snapshot
The Opportunity
Serving female entrepreneurs, who face higher vulnerability rates than men, means investing in the future. They are the cornerstones of a country’s development, for their essential contribution to their families’ progress and that of their communities, driving inclusive and sustainable growth and poverty reduction.
The Commitment
Learn about the vision and the commitment of the BBVAMF Group on women’s economic empowerment.
The Strategy
Aware of this reality and in accordance with its purpose, the BBVA Microfinance Foundation pays special attention to female entrepreneurs. Boosting their economic autonomy has played and still plays, a very relevant role in all the microfinance institutions who are part of the BBVAMF Group.
Our strategy is based on three pillars:
Acknowledgements
