Bancamiga and UNDP renewed their alliance for training entrepreneurs

Bancamiga is the only Venezuelan bank allied with the UNDP. With this second cooperation agreement, the multilateral entity will continue to support the financial institution to provide business training and technical assistance services in an innovative way and with sustainable development criteria

Bancamiga and the United Nations Development Program (UNDP) in Venezuela renewed their institutional cooperation agreement in their mutual interest in reinforcing the development of business capabilities, as well as improving the management of enterprises, micro, small and medium-sized enterprises Venezuelans, promoting productive units that generate positive economic, social and environmental results.

The memorandum of understanding was signed by Carmelo De Grazia, President of the Board of Directors of Bancamiga Banco Universal and by Magdy Martínez Solimán, Resident Representative a.i. from UNDP Venezuela. Both parties expressed their satisfaction at working to consolidate joint strategies aimed at providing financial and non-financial services to national entrepreneurs and small business owners.

With this second agreement, UNDP Venezuela will continue to support Bancamiga in strengthening its institutional capacities to provide business training and technical assistance services in an innovative way and with sustainable development criteria.

The Resident Representative a.i. of the UNDP, Magdy Martínez Solimán, highlighted that Bancamiga is “the first actor” in the country’s financial and banking sector that has a formal alliance with the multilateral entity with a social objective.

He added that the cooperation agreement between both institutions supports UNDP objectives such as “modernization, innovation, digitalization and incorporation of new technologies, value chaining, supplier development and everything that means modernizing the business scheme, so that they are more productive, serve their customers better and create more jobs. “We are getting this right in Venezuela, and Bancamiga is a strategic ally in that process.”

Carmelo De Grazia, President of the bank’s Board of Directors, thanked that the institution was taken into account “for this alliance whose fundamental purpose is the training of entrepreneurs. This is a purpose that we have fulfilled with more than 2,000 entrepreneurs trained during the year 2023, in the training programs shared with UNDP Venezuela and other allies. “We want to continue supporting this objective that contributes to the development of the national productive sector.”

Strategic cooperation between UNDP Venezuela and Bancamiga

In October 2022, both organizations signed their first institutional cooperation alliance. Bancamiga ─ the only UNDP allied bank in Venezuela ─ has successfully executed, together with the multilateral organization, business development initiatives such as the En Marcha Digital methodology, which contributed to the improvement of digital capabilities of 80 small productive units and enterprises in 13 states of the country that participated. in the initiative.

The joint work between Bancamiga and the UNDP reaffirmed the commitment of the parties to boost economic growth and create opportunities for both the commercial and business sectors.

Based on the new cooperation agreement, the institutions will continue to collaborate to implement methodological models developed by UNDP, such as the En Marcha Digital and Ruta del Entrepreneurship programs.

Likewise, they will focus on strengthening the capabilities of entrepreneurs or small business owners, bringing them closer to financing options and jointly developing initiatives to improve the e-commerce opportunities of program participants, among others, concludes an institutional informative statement.

With information and reference images of Bancamiga

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