Mercedes Canalda, executive president for BBVAMF’s Dominican institution (Banco Adopem), takes over the presidency of the Central American and Caribbean Microfinance Network (REDCAMIF). The entity serves two million clients, works with 10 thousand credit officers and 150 microfinance institutions within the region.
The assumption of office was performed during the IX Central American and Caribbean Microfinance Conference, held in San Salvador, El Salvador. Taking over from former president, Carlos Rojas Hidalgo, she is the first Dominican to take office, and second to Jacoba Rodríguez as the only women to lead their respective national networks.
The 150 MFIs that make up the network develop their activities through the national branches such as REDIMIF in Guatemala, ASOMI in El Salvador, REDMICROH in Honduras, ASOMIF in Nicaragua, REDCOM in Costa Rica, REDPAMIF in Panama and REDOMIF in the Dominican Republic.
How REDCAMIF came to be
The idea to create a Microfinance Network for Central America surfaced in July 1999, and from then on, each country’s microfinance networks started to coordinate among them until REDCAMIF’s legal constitution in September of 2002.
REDCAMIF was created with the aim to promote the microfinance industry and its impact in Central America’s economic and social development, as well as to boost the political, regulatory and legislative environment to benefit and strengthen the sector within the region.