To provide 35 impoverished women in the Dominican Republic, most of whom are heads of their households, with access to credit and vocational training so they can start their own microenterprises.
Funding Required $10,000
Credit and Business Development Needs The Bahoruco province has among the highest levels of poverty, illiteracy, and infant mortality in the Dominican Republic. The scarcity of formal job opportunities forces many individuals to open small informal microenterprises. However, many small businesses do not succeed because individuals lack basic managerial skills and financial proficiency. Most microentrepreneurs need access to credit and training in basic financial areas as a prerequisite to survival.
Project Activities
ADOPEM will offer training in business and financial areas as well as microcredit loans for commercial, service and production activities to individuals who have been excluded from the traditional labor market. ADOPEM employs a grassroots methodology through which it identifies program participants, provides training, and conducts follow-up sessions to ensure success and proper loan repayments. The average loan size is $286, with repayment rates at 96% or higher.
Our Partner ADOPEM is a nonprofit institution that promotes the full participation of all Dominicans in the formal economic and credit system so that they may improve living standards for themselves and for their families. ADOPEM created a regulated bank in 2005 while still maintaining its nonprofit operations. Today, the nonprofit arm devotes its efforts to vocational and business development training and provides loans to the poorest of the poor. In recognition of its work, ADOPEM received the Inter-American Award of Excellence in Microenterprise Development by a Non-Regulated Institution.
You Can Help Your support will help 35 women in the Dominican Republic increase their self-sufficiency and improve their living standards. Donate now.
