Banco Adopem, the BBVA Microfinance Foundation institution in the Dominican Republic, is extending its “Finanzas Rurales y Ambiente” (Rural and Environmental Finance) program to allow vulnerable rural populations access to Créditos Verdes (Green Loans) and improve financial inclusion in these areas. Furthermore, with this product, the MFI is encouraging entrepreneurs to assume practices that are more environmental-friendly. Adopem is the only regulated financial institution in the country that has an environmentally sustainable productive loan program that includes financially and technologically innovative services to improve people’s lives.
This initiative, developed with the support of IDB/MIF, UN Environment, CTA and ADA-Redcamif, is part of the institution’s Social and Environmental Business Responsibility Policies. It includes financial products such as Agrocrédito (agricultural loans), AgroPyME (agricultural SMEs), Ecocrédito (environmental loans), Agromujer ADOPEM (agricultural loans to women), Crédito Macadamia and the Financial Education Training program for the Rural Population.
‘Crédito Verde’ boosts financial inclusion for vulnerable rural populations
Aligned with BBVA Microfinance Foundation’s strategy, Banco Adopem is supporting productive activities that respect the environment and contribute to the sustainable development of the Dominican countryside through this program.
The Foundation, which currently serves more than 2 million low-income entrepreneurs in Latin America through its six microfinance institutions, is committed to the environment. A strategic focus in line with its mission to promote sustainable development and consistent with UN Environment’s Responsible Banking Principles, to which it is a recent signatory. The Foundation has had consultative status on the United Nations’ Economic and Social Council (ECOSOC) since 2016.