We have served more than 6 million people and disbursed over USD19.6 billion in loans for their progress (2007-2023)
Individual initiative and the development of small businesses are the main options for escaping poverty in Latin America. One out of every two jobs there is informal. Financial inclusion is key to the progress of these entrepreneurs.
In Colombia, Perú, República Dominicana, Chile and Panamá we measure vulnerability in multiple dimensions to obtain a more complete and accurate view of the challenges households face.
Poverty is not limited solely to lack of economic resources; it extends to deficiencies in dimensions such as housing, education, health, and digital poverty, which go beyond access to devices and internet connectivity.
In vulnerable communities, financial health is a fundamental axis for progress.
Therefore, it is important to understand how they manage their finances and unforeseen events, and how they anticipate future situations in order to deal with them appropriately.
Financial and non-financial solutions tailored to improve the quality of life for households. The individuals served by BBVAMF live in precarious environments, and each entrepreneur has different needs, requiring frequent, almost daily, financial management, specific goals, and immediate liquidity.
Therefore, they need constant support and prompt, straightforward attention that adapts to their household as it progresses. Additionally, many of the entrepreneurs live in peri-urban and rural areas.
The BBVA Microfinance Foundation has been immersed in digital transformation for years, putting technology at the disposal of the most vulnerable so that the services offered by its entities are easy, fast, flexible, and less costly for the people it supports.
Entrepreneurship is an opportunity for people to raise their incomes, increase their investments and manage their risks. Access to financial services, together with the entrepreneur’s own abilities and skillsets, increase the likelihood of their households’ success and welfare.
The work of BBVA Microfinance Foundation and its institutions has been acknowledged with several awards in 2023. We have highlighted the most important one in each country.
SDG Certification Good Practice Award in the
Digital Transformation and Women’s Empowerment categories.
Honorable mention in the Employment & Entrepreneurship category.
Government of Panama, Social Office
This year, the Foundation has continued its intense institutional activity, organizing various events that contribute to the transformation of microfinance and the development sector, with strategic partners who share the goal of promoting sustainable and inclusive growth.
In addition, its experts participated in nearly a hundred forums, sharing their knowledge in priority areas such as economic, social, and digital inclusion, women's empowerment, environmental sustainability, and social impact.
