- The new issue of “Progreso: Responsible Finance for Inclusion and Development” includes an Editorial by Javier M. Flores Moreno, CEO of the BBVA Microfinance Foundation, about the Foundation’s customer-focused model and the need to understand poverty as a multidimensional concept.
- You can read the fifth issue of “Progreso” in both Spanish and English
The magazine that brings you legal news from the microfinance sector, “Progreso: Responsible Finance for Inclusion and Development”, is releasing its fifth issue at the end of 2015. It includes an Editorial by Javier M. Flores Moreno, CEO of the BBVA Microfinance Foundation. Mr. Flores analyzes the factors that impact poverty as a multidimensional phenomenon; he also talks about the Foundation‘s initiatives to promote sustainable economic and social development, and even the development of disadvantaged people, through Productive Finance.
The cornerstone of the Foundation’s model is individualized knowledge of its customers, their circumstances and the real situation of their home or their business. According to Javier M. Flores, “This is relationship banking. The key is being able to recognize the potential to generate wealth (albeit on a small scale) in entrepreneurs and in their projects. Such potential does not only manifest itself through the more conventional tangible quantifiers, but also –and to a large extent– through intangible attributes, such as intelligence, imagination, commitment, willingness to pay, perseverance, resilience, empowerment, sense of responsibility, etc.”
In the Interview section, Ricardo Hausmann –Professor of the Practice of Economic Development at the John F. Kennedy School of Government at Harvard University and Head Economist at the Inter-American Development Bank from 1994-2000– talks about the importance of collective know-how for a country’s economic and social development; discloses the main lessons he learned as board member of the Instituto de Microfinanzas de Acción Internacional; and analyzes other major aspects of national development.
The latest issue of “Progreso” contains the main Q3 2015 regulatory news regarding microfinance and financial inclusion from Colombia, El Salvador, Spain, Paraguay, Peru and the Dominican Republic. It also contains opinion pieces and interesting documents about development trends and social and economic growth trends in Latin America, with a particular focus on the 2030 Agenda.
In terms of corporate governance, the magazine describes legislative initiatives in Chile, Colombia, Spain, Ethiopia, Malaysia, Panama, Peru, Poland and the Dominican Republic; additionally, it refers to the most significant documents such as the 2030 Agenda and the OECD Principles of Corporate Governance, among others.
The Academic documents section includes two theses on specific aspects of financial inclusion.
“Progreso: Responsible Finance for Inclusion and Development” brings you news about economic development, social inclusion, microfinance and principles of good corporate governance.