This year, Venezuela’s economic growth could reach 7.4 %, according to projections from the United Nations Development Programme (UNDP). Regarding inflation, the agency indicates it is expected to climb to 271 %.

The data was revealed on Friday in the program’s report, which states that “oil activity is projected to grow by 11.5 %, with crude oil production reaching up to 1,211,000 barrels per day (bpd), a 12 % increase compared to last year’s average of 1,081,000 bpd, according to official figures.”

Regarding non-oil GDP growth, the report places it at 6.9 % and adds that the scenario for this year will be marked by “structural changes in the economic, institutional, and regulatory environment.”

According to the UNDP, the easing of sanctions against Venezuela by the Trump Administration, reflected in a series of OFAC licenses, “has allowed for the reactivation of Venezuelan crude oil sales and access to critical inputs for production.”

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La entrada UNDP forecasts 7.4 % economic growth for Venezuela apareció primero en Bitfinance.

The Venezuela Productiva 2030 Business Expofair, organized by UNDP, CAF, and Cavidea, will be held at the Renaissance Hotel, in Caracas, from October 22 to 24, according to a recent announcement by Cavecom-e President Richard Ujueta.

The event aims to “highlight the importance of sustainable value chains, aligning with the Sustainable Development Goals (SDGs)” at a global level, with which the South American country seeks to align itself.

 

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It will be a meeting of representatives from the public and private sectors, SMEs, business associations, universities, and other productive sectors in Venezuela to showcase their innovative initiatives, as well as promote networking and strategic alliances, as well as productivity and competitiveness.

Ujueta will be one of the panelists at this event, which will offer business roundtables to create real alliances, a brand and innovation fair with transformative proposals, inspiring conferences with voices that drive change, and new ways to connect, collaborate, and inspire one another. It will also be the occasion for the presentation of the Venezuela Productiva 2030 National Award, which recognizes initiatives that are making a difference in the country.

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With information from venezuelaproductiva2030.com, national media, and social media

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According to forecasts from the United Nations Development Programme (UNDP) office in Venezuela, the South American country’s economy could grow by 5.8 %. Of that total, the oil sector is expected to grow by 13 % and non-oil activity by 3.4 %.

UNDP experts estimate that “the nation’s economy is showing signs of growth, mainly thanks to the momentum of the oil sector and the good performance of several other sectors.”

However, they warn that policies are needed to help stabilize prices and concretely improve the quality of life, beyond the positive signs following the change in US oil policy.

One of the most significant obstacles that, according to the organization, must be taken into account is inflation, which is expected to reach 275 % by 2025, coupled with “the loss of currency value and the decline in household purchasing power.”

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La entrada UNDP forecasts 5.8 % economic growth for the Venezuelan economy apareció primero en Bitfinance.

The United Nations Development Programme (UNDP) Multidimensional Poverty Report 2024, prepared together with the Oxford Poverty and Human Development Initiative (OPHI), indicates that 1.1 billion people are affected by extreme poverty and of these, some 500 million are in conflict contexts.

UNDP and OPHI highlight that the poverty rate in “conflict-affected countries is three times higher than in countries without conflict.”

The research, covering 112 countries and 6.3 billion people, provides shocking data on poverty in countries with conflict and war.

Achim Steiner, UNDP Administrator, said: “Conflicts have intensified and multiplied in recent years, reaching new records in casualties, displacing millions of people and causing major disruption to their lives and livelihoods.”

Steiner believes that resources are needed to support these populations in extreme poverty “and access to specialized interventions in development and early recovery to break the cycle of poverty and crises,” particularly in countries at war.

In nations immersed in conflict, “more than one in four poor people do not have access to electricity, compared to just over one in twenty in more stable regions. Similar disparities are observed in areas such as early childhood education (17.7 % versus 4.4 %), nutrition (20.8% versus 7.2 %) and infant mortality (8 % versus 1.1 %),” the report details.

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With information from the United Nations Development Program

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Bancamiga opened the call for people interested in participating in the Entrepreneurship Route program, a business development methodology of the United Nations Development Program (UNDP) that provides training services and specialized technical advice to enterprises, micro, small and medium enterprises (MSMEs).

For owners of productive units with one and three years of operation, dedicated to production, commerce or services (preferably technology-based), the Entrepreneurship Route program is an alternative with proven effectiveness to optimize businesses that have growth potential. Entrepreneurs from other Latin American countries have confirmed the effectiveness of this program.

Carmelo De Grazia, president of the Board of Directors of Bancamiga Banco Universal, celebrates “the cooperation alliance with the UNDP in Venezuela for the second consecutive year, which will allow it to strengthen training initiatives for Venezuelans as part of its social responsibility policy, to contribute to the economic growth of the country.”

The methodology developed by the UNDP and transferred to Bancamiga for implementation in Venezuela has a limited quota: 40 enterprises or MSMEs interested in developing their capabilities and growing their businesses in the short term will be selected.

A statement from the banking institution informs that the program, which lasts approximately nine months, is completely online, so participants must have a stable internet connection and access to their own or third-party computing equipment, as well as availability of 6 hours a week minimum for training or consulting processes. In addition, they must have basic knowledge of Office applications (Word, Excel and Power Point).

Contents of the training and consulting program

“Entrepreneurship Route” trains and accompanies participants based on the level of consolidation of each business initiative, with the purpose of promoting their productive and commercial management with criteria of sustainability over time.

In the first part of the program, participants train in Human Skills for entrepreneurship, which include aspects such as relational styles, personal and business emotions, communication styles, team management, situational leadership, negotiation and management. of conflicts.

The second training block focuses on the different aspects of the Business Model and group consultations are carried out to help entrepreneurs in the development of products or services, profile the client and define the market segment, establish the value proposition, as well as developing and testing the minimum viable product, among others.

Once their business model has been defined, the teams of the participating companies have the opportunity to deepen their knowledge on essential Marketing and Commercialization topics; Accounting and Finance or Strategy and Operations, in order to achieve a better fit of your commercial offer in the market.

Strategic alliance between Bancamiga and UNDP

Since 2022, Bancamiga and UNDP Venezuela have an institutional cooperation agreement for the consolidation of joint strategies to provide financial and non-financial services to national entrepreneurs and small business owners, as well as make joint efforts to contribute to the achievement of the Goals of Sustainable development.

Last year, the strategic alliance allowed Bancamiga to put into practice another methodology of the multilateral entity called “En Marcha Digital”, which increased the digital capabilities of 80 small productive units. This 2024, giving continuity to the established agreements, the Entrepreneurship Route will be implemented, a methodology that will allow expanding the non-financial services offered by Bancamiga to Venezuelan entrepreneurs and MSMEs.

Those interested in participating in the Entrepreneurship Route can do it until April 15 by entering www.bancamiga.com and completing the registration form. People who register may be contacted to verify the information provided.

With information and reference image provided by Bancamiga and the UNDP

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La entrada Bancamiga invites you to participate in the Entrepreneurship Route program apareció primero en Bitfinance.

The United Nations, through its Development Program (UNDP), promotes help to countries to eliminate poverty. In 2024 they will seek to optimize their function by training their staff, which exceeds 22,000 workers, in blockchain technology.

According to the program’s announcement on November 30, helping countries achieve “sustainable development” growth is the main objective. To this end, they have partnered with the Algorand Foundation to launch this blockchain academy next year.

With this initiative, UNDP employees in 170 countries will receive training in the area of ​​decentralized blockchain and distributed ledger technology, “including how it could be used for financial inclusion, supply chain transparency, asset tokenization in the real world and digital identity applications.”

In the words of UNDP expert on alternative finance and low-carbon development, Robert Pasicko, “the partnership will allow the organization to upskill, empower and inspire UN professionals around the world.”

The subjects at the academy will be combined with workshops, conferences, as well as practical tasks. They will become familiar with “the tools necessary to address complex global challenges using blockchain technology,” Pasicko said.

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Bancamiga and the United Nations Development Program (UNDP) launched this Thursday the En Marcha Digital program, which seeks to strengthen the management of micro-entrepreneurs in the country.

The initiative will provide 40 micro-entrepreneurs and entrepreneurs, for three months, the opportunity to receive 100 % online and free training, which will facilitate their access to training processes, personalized advice, guides, videos and tools, which will help them strengthen and develop a set of good business practices to achieve its growth and sustainability.

The training comprises a first theoretical component that includes four sessions of 16 hours per week. The second component is made up of personalized consulting practices, where each of the participants actually applies the methodological tools simultaneously with the theoretical part. Two hours of weekly accompaniment and the advice of an expert in digital marketing are expected, it was reported in a press release.

Bancamiga’s Director of Social Responsibility, Milagro González, stated that the financial institution is a socially responsible company that provides support and training to entrepreneurs who contribute to the economic development of the country.

“We want to be recognized as a financial entity that is committed to promoting each of the areas that serve the development of a country, such as education, culture and sports,” she explained.

The start of this training process is framed in the Memorandum of Understanding signed in October 2022 with UNDP, which will offer technical assistance for the transfer and execution of its business development methodologies.

Among the conditions to participate in the En Marcha Digital methodology are being an innovative microenterprise that is active, preferably with less than a year of operation, that its owners have approximately two hours a week to participate in training and consulting sessions, and have basic technological resources such as internet, smartphone or computer.

Training and accompaniment

Gustavo González, UNDP certified consultant and Director of Inverso Consultores C.A., said that they support the organization with the formulation, monitoring and evaluation of programs related to entrepreneurship.

“We are consultants certified in business development methodologies by the UNDP, among these programs is En Marcha Digital. The experience of training these entrepreneurs is always very rewarding,” he said.

One of those selected to participate was Ysleidid Corona, from Valencia, Carabobo state. Her proposal is to develop a cytotechnology and teaching service.

“The idea is to establish protocols adjusted to what the client expects and reach agreements with other professionals to work on the same vision that benefits the patient,” she explained.

She also expressed her interest in obtaining administrative tools, cost structure, profitability, legal aspects, and permits to make the initiative scalable from a business point of view.

Another of the chosen ventures was that of Dubelys Nieves, from Caracas, which proposes the production of natural dehydrated food for pets

“My business consists of making handmade snacks for pets based on a biologically appropriate diet. On a day-to-day basis, dogs and cats consume gatarina and perrarina, which is the most practical for humans, but a balance can also be achieved and the pet’s quality of life improved with foods of natural origin, ”she explained.

In addition, he said that he needs to settle all the administrative knowledge that is a very important basis for the business to be maintained over time and be sustainable.

With the start of this program, Bancamiga demonstrates its commitment to the country by developing various lines of action in terms of Corporate Social Responsibility, which have entrepreneurship as a strategy and transversal axis of its management process, concludes the information provided.

With information from Bancamiga

La entrada Alliance Bancamiga and UNDP: the “En Marcha Digital” program started apareció primero en Bitfinance.

During 2022 Bancamiga, Banco Universal, once again reaffirmed that it is a socially responsible company committed to the country, carrying out various activities based on the lines that govern its Corporate Social Responsibility policy, which translated into actions aimed at strengthening the business of 760 entrepreneurs based on cooperation and teamwork.

The programs were developed in the fields of culture, education and sports, with entrepreneurship and innovation as transversal axes. All this management was carried out based on the 17 United Nations Sustainable Development Goals, which seek to transform the world into a better place.

The director of Corporate Social Responsibility, Milagro González, stated that Bancamiga is an innovative and technological bank that has grown with a social sense and that, in line with its vision and with the projection of its image, it is always attentive to new opportunities to support and present wonderful projects that benefit the country.

“Our goal is to promote and contribute to the strengthening of each of the sectors that will develop the country, such as education, culture and sports,” she explained.

Entrepreneurship and growth

Every day, the number of Venezuelans who have the support of Bancamiga to develop their business idea increases. In October 2022, a Memorandum of Understanding was signed with the United Nations Development Program (UNDP).

UNDP will offer technical assistance for the transfer and execution of its business development methodologies with the programs En Marcha Digital, Ruta de Emprendimiento and the Supplier Development Program.

To stimulate the training and growth of entrepreneurs in Venezuela, on November 10, in the José Félix Ribas room of the Teresa Carreño Theater, the forum “Innovation Scenarios for Entrepreneurs” was held, and credits were awarded to a group of representatives of this sector of the national economy.

Two weeks later, hand in hand with Banauge, a workshop on channel sales and digital marketing was given to more than 40 community entrepreneurs from El Cementerio, who carry out the “Medios de vida” project, together with the CESAP Social Group.

Another activity that was added in support of entrepreneurship and promotion of small businesses was the workshop “Emprender en Venezuela es posible” held on November 29 for entrepreneurs from the state of Miranda, with which Bancamiga’s vision of believing in development was reaffirmed. from the country.

Support to the cultural sector

In support of the Office of Vice Postulation of the Cause of Canonization of Blessed José Gregorio Hernández, significant support was provided in July to the Nueva Ruta del Beato, a family walk that started from the Nuestra Señora de La Candelaria church in Caracas and who mobilized the parishioners for those places that the so-called “Doctor of the poor” frequented in life.

Also, last year, the Medicine Bank of the Candelaria parish was conditioned and endowed.

Along the same lines of contributing to institutions dedicated to promoting art and culture, Bancamiga donated 12 computers to the Sacred Museum of Caracas and the Archbishop’s Palace, attached to the Archdiocese of Caracas.

This contribution was added to the one made before to restore the infrastructure of the Archbishop’s Palace and the Sacred Museum of Caracas, two institutions that highlight the cultural and historical heritage of the city.

Concerned about education

Another focus of action was aimed at the education sector as a factor of social transformation. The Fundación Educando Niños Felices, (Fundafelices) is a non-profit organization created to contribute to the development and comprehensive well-being of girls, boys and adolescents in vulnerable situations in Venezuela.

Sensitized by this work, Bancamiga has supported the Foundation since 2016. Through the “Todos a la Escuela” program, dropout rates have been reduced. During the 2021-2022 school year alone, 180 children from the Colegio Paulo VI, at Cota 905, benefited; U.E Nuestra Señora del Encuentro, in the Mirador del Este sector in Petare and San José, in Vista Hermosa, Catia.

The support has also materialized in the donation of technological equipment and school supply kits, the purchase of uniforms and the payment of registration fees. For the 2022-2023 period, another 180 children from the same schools will benefit.

At the end of the year, the “Regalando Sonrisas” initiative was developed, which consisted of the delivery of more than 400 toys to children of the Unidad Educativa San José, located in Catia.

Creativity and innovation

An agreement was signed with the Francisco Narváez Museum of Contemporary Art and the Aprendo y Emprendo organization to establish the Nueva Esparta State Center for Creativity and Innovation for the Arts, whose headquarters were inaugurated on October 24.

As part of the alliance, Bancamiga donated the resources to condition an area in the museum and cover part of the training process of the programs carried out by Aprendo y Emprendo.

Through this initiative, those interested in art will be offered a space for creation and training within the museum, where artists will have an opportunity for both artistic and commercial growth.

Each of these contributions, agreements, projects and sponsorships developed have been a way of leaving a mark together with those, like Bancamiga, who are committed to building the best future for Venezuela.

With information from Bancamiga

La entrada Bancamiga, a socially responsible company committed to the country apareció primero en Bitfinance.

To strengthen the business skills and business management of Venezuelan micro, small and medium-sized companies, Bancamiga began on October 27 the pre-registration period for the En Marcha Digital training program, which will take place between November 21 and March 3 next year.

Among the conditions to participate is to be an innovative microenterprise that is active, preferably with less than a year of operation. It is also essential that their owners have approximately two hours a week to participate in training and counseling sessions, and have basic technological resources such as the internet, smartphone or computer, explains the shared information.

Based on a methodology of the United Nations Development Program (UNDP), En Marcha Digital will offer for three months the opportunity to receive 100% free online training that will facilitate access to training processes, personalized advice, guides, videos and tools.

En Marcha Digital is framed in the Memorandum of Understanding recently signed by Bancamiga and the PNUD, where the multinational organization will offer technical assistance for the transfer and execution of its business development methodologies: En Marcha Digital, Ruta de Entrepreneurship and the Program for the Development of Providers, which will allow training and advice to thousands of entrepreneurs in the country with audiovisual content and technological tools.

In a first phase, Bancamiga and the UNDP will serve this year between 60 and 80 microentrepreneurs from at least 40 businesses in different regions of the country.

A fully virtual training program

The executive president of Bancamiga, Ariel José Martínez Coujil, maintained that the COVID-19 pandemic has driven many economic initiatives towards digital, making it necessary to integrate technology into the workplace and accentuate its online presence in the market, always with innovation as a transversal axis to the business model.

“The program will be totally virtual and is based on a remote support methodology promoted by this international organization, through the innovation of the business model and its digital transformation. It seeks to help small businesses adapt to an increasingly changing environment, promote electronic commerce and prepare to be more competitive in a world where digital is becoming more and more important,” he said.

The training is divided into a first theoretical component that includes four sessions of 16 hours per week. The second is made up of personalized consulting practices, where each of the participants applies the methodological tools in a real way simultaneously with the theoretical part. Two hours of weekly accompaniment is foreseen.

To participate click on the following link: https://forms.gle/2srhkhxctYKJ68Cb9 before November 11. Seats are limited.

With the start of En Marcha Digital, Bancamiga, one of the main institutions of the national banking system, ratifies its commitment to accompany and promote the productive development of the country.

With information from Bancamiga

La entrada Bancamiga and UNDP open training program for entrepreneurs apareció primero en Bitfinance.

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

La entrada Bancamiga and the UNDP signed a Memorandum of Understanding to promote entrepreneurs apareció primero en Bitfinance.