We help millions of people and businesses to prosper through a range of social projects and initiatives in the countries where we operate. Our efforts to contribute to society's future well-being have made Santander the bank that is most changing the world, according to Fortune magazine.
To change the reality of millions of people around the world, all communities must have the chance to succeed. Due to our efforts in Santander Brazil and in Latin America, Santander has been included in the 2019 Change the World ranking by Fortune magazine, which includes 52 companies from 18 countries that have a positive impact on society. We are top of the ranking this year for retail and commercial banks and in sixth place among all the companies chosen.
The Fortune index assesses and rates companies taking into account measurable social impact, business results, innovation and the company's work in relation to competitors and corporate integration, i.e. how the initiatives are integrated into the team and how they are communicated.
We are also the bank that contributes most to financial inclusion in Brazilian society, thanks to Prospera, a programme run by our bank for providing small, low-interest loans to Brazilian entrepreneurs so that they can grow their businesses.
In total, Prospera has provided loans amounting to almost $2 billion to more than 700,000 entrepreneurs. 70% of these microcredits are for helping entrepreneurs with small businesses (mostly seamstresses, waitresses or saleswomen) to finance their enterprise expenses and to grow professionally, with financing to purchase machinery, refurbish facilities or create new projects.
Data shows that Prospera is particularly making a difference in the areas most affected by poverty in Brazil. According to a Rever Consulting study, every Brazilian real lent through this programme generates 4.5 times that amount in economic value.
Financial inclusion on a global level
Our efforts to help communities prosper are not focused on Brazil alone. We have other social initiatives in place in other countries, such as Mexico. Specifically, in Mexico we have Tuiio, an ambitious programme that guarantees access to financial services for the country's most disadvantaged communities. Tuiio offers financial education so that people can learn to use banking services simply and quickly, and feel confident and that support is available to them. In Argentina, we have been running financial education courses since 2015 and we provide microcredits to support business owners.
Fortune magazine also included us last year on its list of companies that are changing the world (2018 Change the World ranking) for our contribution to education. Santander creates opportunities to help people achieve economic and social well-being, by collaborating and driving the growth of the local economy at the same time.