United Nations grants consultative status to BBVA Microfinance Foundation
The United Nations Economic and Social Council, ECOSOC, has recently awarded consultative status to the BBVA Microfinance Foundation (BBVAMF), in recognition of the Foundation's work in its sphere of action: microfinance for development.
The BBVAMF can be consulted by this Council and by other bodies in the United Nations to guide them and recommend actions that contribute to sustainable development. It can also take part in UN meetings and activities.
Since April 2015 the Foundation has been one of the 13 world institutions that form part of the United Nations' Private Sector Advisory Group for the Sustainable Development Goals Fund (SDG-F), where it offers advice on how companies can play a part in achieving the SDGs. The Fund runs programs that involve several different UN agencies.
United Nations once again shows its faith in the Foundation, as this is a distinction that opens the door to participation in the work of the ECOSOC and to consult with the United Nations system at large, and its member states.
The role of the United Nations Economic and Social Councik (ECOSOC)
The UN Charter established ECOSOC in 1945 when the UN was founded. It is at the heart of the UN system to advance sustainable development. It is the central platform for fostering debate, innovative thinking, forging consensus on ways forward, and coordinating efforts to achieve internationally agreed goals. ECOSOC has 54 member Governments which are elected for three-year terms by the General Assembly.
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