BBVA Chairman Announces BBVA Microfinance Foundation’s Adherence to the Edison Alliance to Accelerate the Digital Inclusion of Low-income People

This adherence is supported by the Foundation’s commitment to contribute to the digital inclusion of low-income populations in Latin America, to be executed through its microfinance institutions and with a $7 billion disbursement. 4.5 million entrepreneurs will be directly targeted by this initiative that will be implemented with productive loans and other development programs. Approximately 14 million people are estimated to be impacted. This commitment is focused on the digital sector, aimed to reduce the digital gap detected by the United Nations.

Edison is one of the partnerships pioneered by the World Economic Forum; based on accelerating people’s access to digitalization, focused on financial inclusion, education and health. It gathers main leaders from the public and the private sector to reduce the digital divide that affects 37 percent of the global population, an estimated 2.9 million people (Source: ITU, International Telecommunication Union is the specialized telecommunications agency of the United Nations Organization). These figures show the need for measures that help bridge this gap.