The loan will have a five-year tenor and a three-year grace period, helping Banco BICE increase and diversify its long-term financing to support the housing portfolio growth.

The digital wallet promises to reduce remittance fees for underbanked employees in the UAE by enabling transfers to up to five people for the price of one.

This loan aims to strengthen the institution's financial inclusion program, with a specific emphasis on supporting low-income women in Chile.

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The partnership will see the launch of two unique card products designed to meet the growing needs of businesses and underbanked individuals, supported by a feature-rich digital app powered by Mastercard’s secure, contactless payment technology.

Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.

Aligned with its social purpose and in light of COVID-19’s progress in Latin America, BBVA Microfinance Foundation’s six institutions in five countries in the region have adopted urgent and necessary measures to help its 2.2 million clients cope with this situation.