A reward-filled week for the BBVA Microfinance Group

The origins of the word “reward” can be traced back to the old French term reguard, which means “to regard or heed”. Needless to say, this is an ideal way to describe this week for the BBVA Microfinance Group, when, thanks to three awards we have received, focus has been turned towards our work, shedding a light on the way we support the progress of more than 2 million entrepreneurs in Latin America.

The week started with news that the initiative “Microcreditis with Financial Education to fight poverty and inequality” implemented by our Colombian institution, Bancamía, has been recognized by Global Compact Colombia as “Good Practice for Sustainable Development”. The organization is part of the UN Global Compact network, which aims to “mobilize a global movement of sustainable companies and stakeholders to create the world we want.” In this occasion, the local network has highlighted the initiative’s contribution to SDG 1: No poverty.

This has been followed by another award given to Fondo Esperanza, our Chilean MFI, for being included in the latest edition of Premios Latinoamérica Verde. The “Fondo Esperanza Inclusion Segment”, ranked 213 in the overall classification and placed 37 in the Human Development Category ranking. This category rewards projects that drive human development, equality and decent work to fight poverty, among others. According to the nomination’s assessment, this program is applying an integrated concept of social inclusion, “without forgetting any social group, including those who are deprived of freedom.”

Last but not least, the innovative game-based initiative “Héroes”, developed by the BBVA Microfinance Foundation, has been recognized by the Internal Communications Observatory with the award for Best Internal Communication Strategy for Change Management and Transformation. Through gamification, the player gets an opportunity to experience the Foundation’s purpose, and to be trained on behavior such as empathy towards clients and value creation.  According to the Jury, “Héroes” is an innovative tool for internal communication […] that substitutes traditional practices,  consisting in emails, print documents, tests and face-to-face training course.”

In our more than 10 years of activity, we have proven that offering adequate financial services and advice to low-income entrepreneurs, is key for them to progress. We not only contribute to helping them build a stable livelihood, we also help them mitigate poverty and its consequences. Recognitions such as these reflect the commitment of BBVA Microfinance Group through its more than 8.000 employees. Similarly, it also encourages us to continue bringing opportunities closer to those who, with small credits are able to reach big goals.