Banco Adopem, together with the Multilateral Investment Fund– member of the Inter-American Development Bank– and Nestlé Dominicana, have presented the outcome of the project called ‘Developing a Microfranchise Model for low-income women in the Dominican Republic’.
The program, which has disbursed a total of USD 1.05 million (€ 850,482), has contributed to empowering more than 3,600 entrepreneurs in the country, 84% of whom are women head of households, able to start and develop a profitable business.
Banco Adopem, the Multilateral Investment Fund and Nestlé Dominicana during the presentation of the project’s outcome
One of the targets achieved by this innovative program was the capacitation of more than 2,900 people in business development, as well as education on eating and nutrition habits. Furthermore, it has allowed 1,255 microdistributors access to loans, savings, microinsurance and other financial products.
In the Dominican Republic, the BBVA Microfinance Foundation’s institution serves almost 400,000 vulnerable entrepreneurs, who receive support to achieve progress and advance their businesses through microcredits.