{"id":32702,"date":"2021-02-25T08:00:28","date_gmt":"2021-02-25T07:00:28","guid":{"rendered":"http:\/\/www.fundacionmicrofinanzasbbva.org\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/"},"modified":"2021-02-25T11:59:03","modified_gmt":"2021-02-25T10:59:03","slug":"la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/","title":{"rendered":"The BBVA Microfinance Foundation once again leads private philanthropy for development, next to the Bill &#038; Melinda Gates Foundation"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The BBVA Microfinance Foundation (BBVAMF), <strong>once again leads in Latin America in the contribution to development<\/strong> and ranks second worldwide after the Bill &amp; Melinda Gates Foundation, according to the recent <strong>data published by the Organisation for Economic Co-operation and Development (OECD)<\/strong>, which documents the work of almost 40 of the most prominent foundations from the Development Assistance Committee (DAC) member countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With USD <strong>1.3 bn disbursed in 2019<\/strong> through its microfinance institutions (MFIs) in Latin America, BBVAMF\u2019s CEO, Javier M. Flores stated that this \u201cconsolidates our commitment with low-income people who we serve implementing a unique microfinance model, focused on their progress, which has proven to be effective throughout the years and during 2020, has been a significant tool to support their recovery.\u201d<\/span><\/p>\n<a href=\"http:\/\/www.oecd.org\/dac\/Private-Philanthropy-for-Development-Flyer-2018-19.pdf\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-32676\" src=\"http:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/Gr\u00e1fico-Informe-OCDE-The-role-of-philanthropy-in-financing-for-development-.jpg\" alt=\" 'The role of philanthropy in financing for development'\" width=\"663\" height=\"472\" srcset=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/Gr\u00e1fico-Informe-OCDE-The-role-of-philanthropy-in-financing-for-development-.jpg 663w, https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/Gr\u00e1fico-Informe-OCDE-The-role-of-philanthropy-in-financing-for-development--180x128.jpg 180w\" sizes=\"auto, (max-width: 663px) 100vw, 663px\" \/><\/a>\n<p><span style=\"font-weight: 400;\">The OECD\u2019s official figures show that the BBVAMF\u2019s institutions present higher impact in <strong>Peru<\/strong> (USD 769M) and <strong>Colombia<\/strong> (USD 382M) which comprises 88% of the total disbursements, followed by <strong>Dominican Republic<\/strong> (USD 143M) and <strong>Panama<\/strong> (USD 21M).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, in 2019 the BBVAMF disbursed an additional USD 288M through its MFI in <strong>Chile<\/strong>, although this amount is not included in the OECD official statistics, given that since January 2018, the country is not among the recipients of DAC\u2019s Official Development Assistance.<\/span><\/p>\n<div id=\"attachment_32696\" style=\"width: 1168px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-32696\" class=\"wp-image-32696 size-full\" src=\"http:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/OCDE_Pa\u00edses_FMBBVA.jpg\" alt=\"\" width=\"1158\" height=\"671\" srcset=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/OCDE_Pa\u00edses_FMBBVA.jpg 1158w, https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/OCDE_Pa\u00edses_FMBBVA-180x104.jpg 180w, https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/OCDE_Pa\u00edses_FMBBVA-768x445.jpg 768w, https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/OCDE_Pa\u00edses_FMBBVA-1024x593.jpg 1024w\" sizes=\"auto, (max-width: 1158px) 100vw, 1158px\" \/><p id=\"caption-attachment-32696\" class=\"wp-caption-text\">Fuente: OCDE<\/p><\/div>\n<p><span style=\"font-weight: 400;\">This contribution, along with the different initiatives of the BBVAMF aligned with its purpose to foster the sustainable development of low-income entrepreneurs, <strong>impacts 12 out of 17 SDG.<\/strong> The most outstanding ones being its effect on SDG 1 \u201cNo Poverty\u201d, SDG 8 \u201cDecent Work and Economic Growth\u201d, SDG 10 \u201cReduced Inequalities\u201d, SDG 17 \u201cPartnerships for the Goals\u201d, SDG 5 \u201cGender Equality\u201d and SDG 2 \u201cZero Hunger\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this light, BBVAMF Finance Manager and Controller, <strong>Gabriela Gil<\/strong> noted that \u201cfinancial inclusion is more important than ever to reach the 2030 Agenda\u201d, since the UN estimates that the financial gap that prevents the SDG from being attained in developing countries is, at least, USD 2.5 trillion a year, \u201cthis figure has increased as the pandemic has threatened the achievement of the SDG.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For more than 50 years, the <strong>OECD<\/strong> has published the <a href=\"https:\/\/www.oecd.org\/development\/oecd-and-donor-countries-working-to-focus-development-efforts-on-covid-19-crisis-building-on-a-rise-in-official-aid-in-2019.htm\" target=\"_blank\" rel=\"noopener\">Official Development Assistance (ODA)<\/a> figures which in 2019 rose to USD 152.8 bn (DAC member countries).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In recent years, these statistics have expanded their scope and currently includes information on nearly 40 relevant <strong>foundations<\/strong> that <strong>together contributed USD 8.2M in 2019.<\/strong> These data are comparable to country-level information, given that the foundations are analyzed using the same ODA standards.<\/span><\/p>\n<h3>The pandemic\u2019s impact on the contribution to development<\/h3>\n<p><span style=\"font-weight: 400;\">This year, the OECD also published data from <a href=\"http:\/\/www.oecd.org\/dac\/financing-sustainable-development\/development-finance-standards\/OECD-DAC-survey-on-foundations-immediate-response-to-COVID19.pdf\" target=\"_blank\" rel=\"noopener\">a survey that compiles information on how leading private foundations responded to the COVID-19 crisis<\/a> and according to the results, the BBVAMF ranked second as well for its contribution to developing countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThis has been possible thanks to the digital transformation that we initiated several years back, as a priority, and now, we are seeing how effective it is, during these critical moments of lockdowns because it allows us to stay close to the people we serve, who always prove to be examples of perseverance\u201d, confirmed BBVAMF CEO, Javier M. Flores.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the pandemic, around <strong>20% of BBVAMF\u2019s entrepreneurs were able to transform their businesses<\/strong> and by the end of 2020, nearly 80% were completely operational.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BBVA Microfinance Foundation (BBVAMF), once again leads in Latin America in the contribution to development and ranks second worldwide after the Bill &amp; Melinda&#8230;  <a class=\"excerpt-read-more\" href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/\" title=\"Read The BBVA Microfinance Foundation once again leads private philanthropy for development, next to the Bill &#038; Melinda Gates Foundation\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":13,"featured_media":32695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1437],"tags":[3469,3699,3698],"class_list":["post-32702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-oecd-en","tag-oecd-statistics","tag-private-philanthropy-for-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BBVAMF leads contribution to development, next to the Gates Foundation<\/title>\n<meta name=\"description\" content=\"According to OECD figures, BBAVMF once again leads contribution to development in Latin America and ranks second worldwide\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BBVAMF leads contribution to development, next to the Gates Foundation\" \/>\n<meta property=\"og:description\" content=\"According to OECD figures, BBAVMF once again leads contribution to development in Latin America and ranks second worldwide\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/\" \/>\n<meta property=\"og:site_name\" content=\"Fundaci\u00f3n Microfinanzas BBVA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundacionmicrofinanzasbbva\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-25T07:00:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-25T10:59:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2021\/02\/FTV_0227.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1900\" \/>\n\t<meta property=\"og:image:height\" content=\"1266\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Karessa Ramos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@FMBBVA\" \/>\n<meta name=\"twitter:site\" content=\"@FMBBVA\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Karessa Ramos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/la-fundacion-microfinanzas-bbva-nuevo-lider-internacional-contribucion-al-desarrollo-tras-la-fundacion-bill-melinda-gates\/\"},\"author\":{\"name\":\"Karessa Ramos\",\"@id\":\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/#\/schema\/person\/dcc08d9d413af1c947cd093804347ac6\"},\"headline\":\"The BBVA Microfinance Foundation once again leads private philanthropy for development, next to the Bill &#038; 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