Bancamiga and the UNDP signed a Memorandum of Understanding to promote entrepreneurs

Bancamiga and the United Nations Development Program (UNDP) signed a Memorandum of Understanding in order to strengthen the provision of financial and non-financial services to micro, small and medium-sized enterprises, thus reinforcing value chains in strategic sectors of the country’s economy.

In the document, which was signed this Thursday, October 13, between the Resident Representative a.i. of the UNDP in Venezuela, Rosicler Gómez, and the Executive President of Bancamiga, Ariel José Martínez, the UNDP will offer technical assistance for the transfer and execution of its business development methodologies: “En Marcha Digital”, Entrepreneurship Route and the Supplier Development Program.

These three work methodologies will allow training and advice to thousands of entrepreneurs in the country with audiovisual content and technological tools.

The Executive President of Bancamiga, Ariel José Martínez, stated that with these initiatives Bancamiga, as a private company, contributes to the fulfillment of four Sustainable Development Goals (SDGs): N° 5 referring to Gender Equality, N° 8 (Decent work and economic growth), No. 9 (Industry, innovation and infrastructure) and No. 13 (Climate action).

“We hope to be an active agent in the Venezuelan entrepreneurial ecosystem, providing innovative services that promote successful businesses from a gender perspective and with an economic, social and environmental impact,” she said.

For her part, the UNDP Resident Representative a.i recognized the importance of this initiative for promoting the economic development of the country, adding that “it is a pleasure to establish this cooperation framework, where the tools developed from the UNDP will be used, to provide assistance to Venezuelans in the development of the national productive sector”.

Before the signing of the Memorandum, the UNDP and Bancamiga have been holding technical meetings in order to jointly implement initiatives that contribute to the improvement of capacities and the promotion of entrepreneurship and Micro, Small and Medium Enterprises (MSMEs), in coordination with the financing strategies promoted by Bancamiga in the country, which include financial and non-financial products and services aimed at strengthening the capacities of this sector.

Bancamiga will promote a Business Development Unit

Another aspect of the signed document to highlight is that the UNDP will promote the improvement of the organizational support, follow-up and monitoring structure that Bancamiga creates to coordinate and execute the business development methodologies to be transferred by the UNDP to the organization.

According to the text, Bancamiga will form a Business Development Unit with a minimum team that “will be progressively strengthened to the extent that the pilots of the different methodologies transferred by the UNDP are applied and plans are made to increase coverage and increase impact.”

With the signing of the Memorandum of Understanding with the UNDP, Bancamiga reaffirms its commitment to promote the growth of communities by creating opportunities for the commercial and business sector in general.

The cooperation proposed in the Memorandum will have an initial duration of 15 months from the date of entry into force.

With information from Bancamiga