Partnership to Drive Rural Development in Latin America Through Technology and Smart Farming

The BBVA Microfinance Foundation (BBVAMF) and the Inter American Institute for Cooperation in Agriculture (IICA), which is part of the Organization of American States (OAS), have signed a partnership agreement to drive financial inclusion and innovation in the agricultural and rural sector in the five Latin American countries where the Foundation is present (Colombia, Peru, Dominican Republic, Chile and Panama), where 2.2 million low-income entrepreneurs are being served.

The Memorandum of Understanding signed in Santo Domingo is a roadmap to implement joint initiatives that contribute to the development of vulnerable population segments, paying special attention to women and the youth. Both parties have agreed to focus on specialized training and to design programs that are already being carried out in the Dominican Republic with the purpose of improving the standard of living of small farmers, through climate change adaptation measures, digital tools and skills training related to the needs in the agricultural sector.