CABEI Social Support Foundation and BBVA Microfinance Foundation support the creation of initiatives on innovation, inclusion, and women's empowerment in the region
Since 2020, through its Social Support Foundation (FAS), the Bank has been developing high-impact projects for its member countries.
Madrid, February 16th, 2023 - The Central American Bank for Economic Integration (CABEI), through its Social Support Foundation (FAS), and the BBVA Microfinance Foundation (BBVAMF) signed a strategic alliance of mutual cooperation to strengthen and promote social development initiatives with a gender focus in the region.
Through this effort, we plan to collaborate and identify programs and projects that promote innovation, inclusion and empowerment of women in the Bank's member countries, where, in addition, BBVAMF has a presence through its entities.
"With this action, we seek to create mechanisms with the BBVA Microfinance Foundation to continue promoting financial inclusion and greater participation of women in different economic activities, which will result in their empowerment and economic autonomy, which the Bank has been promoting over the years," said CABEI Executive President, Dr. Dante Mossi.
"This alliance reflects the commitment to economic and social development that both institutions share; the BBVAMF's main challenges are: Reducing the poverty suffered by the almost three million entrepreneurs it serves, understanding poverty as the scarcity of economic resources, but also in its dimensions of health, education, digital inclusion and housing. The economic and social empowerment of women, due to their important role in reducing poverty, and finally, caring for the environment, since climate change has a greater impact on vulnerable populations," said Alberto Lorca, CFO of the BBVAMF.
The signing of this memorandum is in line with the regional MSME agenda for the countries of the Central American Integration System (SICA) region, in its Business Development axis. Both entities will also facilitate opportunities for exchanges of experiences with other institutions on international cooperation issues.
FAS was created by the Bank in 2020, with the purpose of promoting high social impact projects in member countries, accelerating the region's development; complementing and strengthening CABEI's strategic objectives through activities that contribute to the reduction of extreme poverty.
The BBVAMF is a Spanish entity focused on promoting the sustainable and inclusive economic and social development of vulnerable people in Latin America, considered by the OCDE as the Foundation that contributes most to development in Latin America.