Fundación Microfinanzas BBVA

“Financial inclusion, a key goal for the UN’s Development Agenda”

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  • The Director of Strategy and Research at the BBVA Microfinance Foundation, Giovanni di Plácido, has taken part in the presentation in Madrid of the new report from the United Nations Sustainable Development Goals Fund
  • The BBVAMF has been a member of the Fund’s Private Sector Advisory Group since its creation in 2015, and its methodology is highlighted in the new report

This afternoon in Madrid saw the presentation of the new report from the UN’s SDG Fund entitled “Sustainable Development Goals and the Private Sector”, which examines some of the key questions facing companies when incorporating and implementing these goals in their organization. The methodology of the BBVA Microfinance Foundation is included as a case study on the integration of the SDG in its primary activity.

“The Foundation has an influence in eight SDGs: five in a direct way, and three indirectly”, said Giovanni di Plácido, Director of Strategy and Research at the BBVA Microfinance Foundation, during the presentation of the report, whose theme this year is universality and the SDGs from a business perspective. This guide, prepared by the SDG Fund with the collaboration of its Private Sector Advisory Group, offers a series of guidelines on how to exploit companies’ full potential for achieving the SDGs. It also takes a closer look at the concept of universality: what it is, and how it has been conceived within the new development agenda as the responsibility of all countries, with active participation by companies themselves.

“The Foundation has an influence in eight SDGs: five in a direct way, and three indirectly”

The methodology of the BBVA Microfinance Foundation, which has been a member of the Private Sector Advisory Group since 2015, is mentioned in the report as a model for the economic and social development of vulnerable people through financial inclusion. “Financial inclusion is a key target of the 2030 Development Agenda for UN member countries”, said Di Plácido.

“Greater access to financial services makes a difference to people’s investments, reduces their vulnerability, gives them access to consumer goods, and improves food security and health, among other aspects”, explained the Director of Strategy and Research at the BBVAMF during his talk in Madrid. Since its creation, the Foundation has disbursed over 8.3 billion dollars in productive loans to over four million low-income entrepreneurs in Latin America.

“The UN’s Sustainable Development Program requires the active participation of the private sector”

The work of the Foundation through its microfinance institutions contributes to eradicating poverty (SDG no. 1) and to promoting inclusive and sustainable economic growth (SDG no. 8). 60% of the over 1.8 million people currently served by the BBVAMF are women, highlighting the Foundation’s work to encourage gender equality and the empowerment of women (SDG no. 5). In 2015 it also provided financial literacy training for 378,562 vulnerable people, thus contributing to good-quality inclusive education (SDG no. 4). Giovanni Di Plácido also stressed the importance of alliances for achieving the goals (SDG no. 17): “The UN’s Sustainable Development Program requires the active participation of the private sector”.