About the Foundation
The BBVA Microfinance Foundation is a non-profit institution created by the BBVA Group as part of its corporate responsibility (CR) strategy, and it focuses its activity on financial inclusion. The Foundation is part of BBVA’s aim to link its community involvement projects with activity in the financial sector where possible, specifically with the fight against financial exclusion.
The BBVA Microfinance Foundation was created in May 2007 to boost the sustainable economic and social development of disadvantaged people in society by giving them access to productive microfinance. With a budget of 300 million dollars and the backing of a banking institution that has been in the business for more than 150 years, the BBVA Microfinance Foundation is dedicated to helping the least advantaged in a totally philanthropic way.
The BBVA Microfinance Foundation is completely autonomous within the BBVA Group, both in terms of its legal personality and its governance and management. It invests its budget on the creation and consolidation of microfinance institutions in Latin America. Any profits made by them are reinvested in the Foundation's own activity, and no money finds its way back to the BBVA. This is expressly stated in the Foundation’s bylaws, which earmark all the funds for the mission and the Foundation’s objectives, thus guaranteeing that the institution will always dedicate its activity to this end.