BBVA Joins the Spanish Government’s Strategy to Help Young People Enter the Job Market

BBVA Chairman Francisco González formally joined the 2013-2016 Young Entrepreneur & Employment Strategy promoted by the Spanish Ministry of Employment & Social Security. The event took place today in Madrid in the presence of Minister Fátima Báñez. “Creating jobs is a national priority,” said Mr. González.

Francisco González believes that until the Spanish economy returns to growth “we should take early action through additional and complementary measures such as the 2013-2016 Young Entrepreneur & Employment Strategy promoted by the Ministry of Employment & Social Security.” He pointed out that “job creation is unquestionably a huge challenge that demands immediate action. This is a collective task that concerns the private sector and society in general and not just the government.”

“We cannot remain impassive before the drama of unemployment,” Francisco González said. He believes private companies should support the government’s strategy “by operating in a responsible manner”. He drew attention to the fact that “BBVA has not cost taxpayers a dime. During this time we have been working, growing, generating earnings and employment, paying dividends and taxes, and increasingly investing in corporate social responsibility programs.”

BBVA, through its “I Am Employment” initiative, is the first company to join the ministry’s strategy. The goal is to help young people enter the job market for the first time and, once employed, to improve their standing.

“I Am Employment” is a support scheme for SMEs and freelance workers that aims at creating 10,000 new jobs of which 2,000 will be for people under 30. The scheme plans an initial investment of €25 million through a comprehensive program that entails various measures:

-A direct grant of up to €3,000 for every unemployed person hired on an indefinite contract.
-A free selection service, provided by Infoempleo, which will act as an intermediary employment tool between companies and the unemployed.
-A training programme for 2,000 companies, developed by four prominent business schools (IE Business School, ESADE, Deusto and San Telmo)
-Apart from the above measures BBVA will launch a €20-million entrepreneur fund in June.

Francisco González explained that “the scheme is open to all organizations and companies that wish to participate such as the Spanish Federation of Freelance Workers associations (already a member) or the High Council of Chambers of Commerce (in the process of joining)”.

Furthermore BBVA is promoting other initiatives to generate employment:

-The Integra Awards for business projects that promote the creation of quality jobs for the handicapped or new opportunities that enable these people to develop their careers. In the last four years BBVA has supported 28 companies that employ over 3,300 people of whom 70% are threatened by social exclusion.
-The Momentum Project, which accompanies the most promising social entrepreneurs, enabling them to consolidate, grow and boost their projects. In the first two years of the initiative BBVA supported 20 social businesses with 1,000 employees.

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.