{"id":431,"date":"2007-10-10T13:53:01","date_gmt":"2013-07-17T14:13:03","guid":{"rendered":"http:\/\/www.fundacionmicrofinanzasbbva.org\/?post_type=noticias&#038;p=431"},"modified":"2017-05-10T08:16:17","modified_gmt":"2017-05-10T08:16:17","slug":"the-idb-and-bbva-foundation-for-microfinance-collaborate-in-furthering-the-microfinance-industry-in-latin-america","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/the-idb-and-bbva-foundation-for-microfinance-collaborate-in-furthering-the-microfinance-industry-in-latin-america\/","title":{"rendered":"The IDB and the BBVA Microfinance Foundation collaborate in furthering the microfinance industry in Latin America"},"content":{"rendered":"<p>Today, in this capital city, Inter-American Development Bank and the BBVA Microfinance Foundation\u00a0authorities signed a memorandum of understanding in order to cooperate in activities for expanding access to microfinance services in Latin America.<\/p>\n<p>The document was signed by the <strong>president of the IDB, Luis Alberto Moreno<\/strong>, and the president of the BBVA Foundation for Microfinance, Manuel M\u00e9ndez del R\u00edo, at a ceremony held in the framework of the <strong>10th Microenterprise Forum<\/strong>.<\/p>\n<p>&#8220;The decision by a major international bank such as the BBVA to create a foundation devoted to microfinance demonstrates the transformation which this industry is undergoing in order <strong>to reach millions of Latin Americans who still lack access to formal financial services<\/strong>&#8220;, Moreno remarked. &#8220;And the fact that it is doing so through a non-profit institution underlines its commitment to the <strong>social objectives which have always inspired the players in this sector<\/strong>&#8220;.<\/p>\n<div id=\"attachment_1150\" style=\"width: 630px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1150\" class=\"wp-image-1150 size-full\" src=\"http:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2012\/07\/4.jpg\" alt=\"Fotograf\u00eda de Manuel M\u00e9ndez del R\u00edo, 2013, FMBBVA junto a Luis Alberto Moreno, presidente del BID\" width=\"620\" height=\"290\" srcset=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2012\/07\/4.jpg 620w, https:\/\/www.fundacionmicrofinanzasbbva.org\/wp-content\/uploads\/2012\/07\/4-180x84.jpg 180w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><p id=\"caption-attachment-1150\" class=\"wp-caption-text\">Luis Alberto Moreno, President of the IDB, with Manuel M\u00e9ndez del R\u00edo<\/p><\/div>\n<p>On his part, M\u00e9ndez del R\u00edo added: &#8220;For the BBVA Foundation for Microfinance this agreement with the IDB has great significance. We are going to work together in order to further the economic and social development of the most disadvantaged, we will join forces with the leader in the development of microfinance in Latin America, by contributing resources and our 150 years of banking experience, to make financial services accessible to the region\u2019s most needy segments&#8221;.<\/p>\n<p>Under the agreement signed in San Salvador, the <strong>IDB and the BBVA Foundation for Microfinance will be able to collaborate in projects for furthering the microfinance industry<\/strong> overall, as well as to provide support to microfinance institutions in order to\u00a0 facilitate the expansion of their activities. This support may consist of the financing of debt or capital investment or technical assistance.<\/p>\n<p>Likewise, they will be able to<strong> development open technological platforms<\/strong> in order to improve the risk management of the credit portfolios of microfinance institutions. At the same time, with respect to corporate good governance principles, the IDB and the Fundaci\u00f3n BBVA will promote the adoption of best practices among the institutions in the sector.<\/p>\n<p>In addition, the <strong>IDB and the Foundation look forward to supporting the training of personnel for the microfinance institutions<\/strong>, by working with universities and business schools in the region and through the development of training courses and study grant programmes.<\/p>\n<p>Moreover, they propose to collaborate with the region\u2019s financial supervisory bodies in order to propose improvements in the regulatory frameworks of the microfinance industry which would facilitate the expansion of its services.<\/p>\n<p><strong>The IDB has been the principal source of financing for the development of microfinance in Latin America and the Caribbean<\/strong>, where in the last 30 years it has invested more than 1,000 million dollars in more than 500 projects associated with microcompanies. Through its Multilateral Investment Fund, since 1992 the IDB has backed the pioneer microfinance networks in the region.<\/p>\n<p>The BBVA Foundation for Microfinance was created this year by BBVA, an institution of Spanish origin which comprises one of the major international financial groups, with a banking presence in 10 Latin American countries. The Foundation has a fund of 200 million euros (approximately 280 million dollars) in order to create a global microfinance network.<\/p>\n<p>The first Latin American institutions incorporated into the Foundation\u2019s network are the Corporaci\u00f3n Mundial de la Mujer- Colombia and Corporaci\u00f3n Mundial de la Mujer- Medell\u00edn in Colombia and Caja Nor-Per\u00fa and Caja Sur in Peru.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, in this capital city, Inter-American Development Bank and the BBVA Microfinance Foundation\u00a0authorities signed a memorandum of understanding in order to cooperate in activities for&#8230;  <a class=\"excerpt-read-more\" href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/en\/the-idb-and-bbva-foundation-for-microfinance-collaborate-in-furthering-the-microfinance-industry-in-latin-america\/\" title=\"Read The IDB and the BBVA Microfinance Foundation collaborate in furthering the microfinance industry in Latin America\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":13,"featured_media":7885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[648,1434],"tags":[679,711,712,713],"class_list":["post-431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategic-alliances","category-alianzas-estrategicas-en","tag-agreement","tag-inter-american-development-bank-idb","tag-luis-alberto-moreno-en","tag-x-microenterprise-forum"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The IDB and the BBVA Microfinance Foundation collaborate in furthering the microfinance industry in Latin America - Fundaci\u00f3n Microfinanzas BBVA<\/title>\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\/the-idb-and-bbva-foundation-for-microfinance-collaborate-in-furthering-the-microfinance-industry-in-latin-america\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The IDB and the BBVA Microfinance Foundation collaborate in furthering the microfinance industry in Latin America - Fundaci\u00f3n Microfinanzas BBVA\" \/>\n<meta property=\"og:description\" content=\"Today, in this capital city, Inter-American Development Bank and the BBVA Microfinance Foundation\u00a0authorities signed a memorandum of understanding in order to cooperate in activities for... 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