In May 2007, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) set up the non-profit organization, BBVA Microfinance Foundation (BBVAMF), for the purpose of promoting sustainable and inclusive economic and social development for people under vulnerable conditions by using Productive Finance, the Foundation’s own specialty and methodology. In more than 10 years of activity, BBVAMF has observed that providing adequate financial products and services overtime to excluded and low-income entrepreneurs is key to generate development, as it also mitigates poverty and its consequences. During this period, institutions of the BBVA Microfinance Foundation Group have originated more than USD 11.7 billion to five million low-income entrepreneurs in 5 countries (Colombia, Peru Dominican Republic, Chile and Panama), creating opportunities so they could improve their lives. This is how the Foundation has turned into one of the highest impact philanthropic initiatives, and the top provider of individual loans in the most unequal region of the planet.
Three of BBVAMF´s institutions, ADOPEM (Dominican Republic), Fondo Esperanza (Chile) and Microserfin (Panama), are partners of WPF.