Dominican Republic Market Profile

June 28, 2015 - 8:30am from Accion Ambassadors
It’s been two full weeks since I arrived in the Dominican Republic, and between the work weeks and weekends of tourism, there are a few things I’ve noticed and had to acclimate to: The heat It is HOT, I’m talking 90s (30s in Celsius), and the humidity is just brutal. If you’re right on the coast or in the mountains with a nice breeze you’re in great shape, but if you’re in the middle of Santo Domingo, your chances of feeling that breeze are a lot ...
June 16, 2015 - 1:27pm from Accion Ambassadors
True to the Caribbean way of life, this week got off to a slow start. But that being said, it’s day five of my Ambassadorship at Banco Ademi in Santo Domingo, and I’m thrilled to report that my assigned project is officially underway! My project, in short, is to be a secret agent of sorts. I’m kind of kidding, but I’ll do my best to chronicle my new “double life” in the coming weeks either way. (Already writing about my secret mission on a public blog – I’m totally cut out ...
June 10, 2015 - 2:25pm from Accion Ambassadors
You know that feeling you get on your first day at a new school? (A combination of excitement, anxiety, restlessness and again—excitement?) I get that feeling every time I arrive in a new country. As the plane was beginning its descent yesterday morning, I couldn’t help but peek over my middle seat neighbor to catch my first glimpse of the Dominican Republic. My ...
June 8, 2015 - 1:10pm from Development Impact - News, views, methods, and insights from the world of impact evaluation
The Dominican Republic’s Solidaridad conditional cash transfer program provides its monetary transfers to poor families in the form of a debit card that can only be used at a network of grocery stores affiliated with the program (it does this in part to ensure they spend the money on food). The typical monthly transfer is about $36, which is 17% of median monthly food expenditure.
May 26, 2015 - 5:05am from MicroCapital
The Multilateral Investment Fund, a member of the US-based IDB (Inter-American Development Bank), has donated USD 1.2 million to fund a collaborative project with the Center for Latin American Monetary Studies, an association of Latin American and Caribbean central banks (also known by its Spanish acronym CEMLA).  The project seeks to improve the legal and regulatory frameworks of the region’s remittance market and improve the quality of information available on the sector. This is to ...
May 20, 2015 - 2:47pm from CGAP Microfinance Blog
A piggy bank can be a fun and effective way to teach kids about saving money, but those little containers only go so far. They eventually run out of space, and they’re too easy to access for impulse spending. Working with Women's World Banking, the Dominican Republic’s Banco ADOPEM introduced a more promising strategy in 2010 for teaching kids how to save money: opening a savings account in their name.
May 15, 2015 - 9:22am from Accion Ambassadors
It’s that time of the year again – we at Accion are so excited to welcome the 2015 class of Ambassadors to our Cambridge office next week for their official orientation! We’ve got a fantastic bunch of candidates this year who will be working on all kinds of assignments – ranging from impact studies to product development to marketing strategy and human resources – and much more. Next week, ...
May 9, 2015 - 1:45pm from MicroCapital
“Aging and Financial Inclusion: An Opportunity;” published by HelpAge International and Accion’s Center for Financial Inclusion; 2015; 40 pages; available at https://centerforfinancialinclusionblog.files.wordpress.com/2015/02/aging_and_financial_inclusion_an_opportunity.pdf This report highlights various barriers and opportunities in providing financial ...
March 5, 2015 - 2:23pm from Center for Financial Inclusion Blog
> Posted by Jeffrey Riecke, Communications Associate, CFI Coinciding with this week’s Mobile World Congress in Barcelona, GSMA’s Mobile Money for the Unbanked (MMU) program released its fourth annual ‘State of the Industry Report on Mobile Financial Services.’ I talked with Jennifer Frydrych, Insights Coordinator for the MMU program and one of the authors on the report, about the project’s findings. The conversation touched on new markets, shifts in the mobile ...
February 12, 2015 - 3:28pm from About Microfinance
Click here to view the video on YouTube. Click here to view the video on YouTube. While microcredit was the linchpin of microfinance for some four decades, in the past 10 years savings by the poor has taken a foothold in ...
January 14, 2015 - 5:03am from MicroCapital
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB), recently announced that it has partnered with Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM), a microfinance institution (MFI) in the Dominican Republic, and Nestlé Dominican Republic, a unit of the Switzerland-based multinational food and beverage company, to develop a project that will give low-income women in the country an opportunity to operate micro-franchises to ...
January 8, 2015 - 6:11am from MicroCapital
The International Finance Corporation (IFC), a member of the US-based World Bank Group that offers financial services to businesses and governments in developing countries with the aim of increasing economic growth, recently announced that it purchased the entire stake of ordinary bonds recently issued by Bancamía S.A. (Corporation), a Colombian microfinance institution (MFI). The offering is valued at COL 100 billion (USD 42 million). Ms María Mercedes Gómez, the executive ...
December 24, 2014 - 2:06am from Google news - microfinance
Eastside Catholic Microfinance Club helps Third World countriesIssaquah PressMicrofinance is relation-based banking; several entrepreneurs loan money to a person in a Third World ...
December 17, 2014 - 8:07pm from Innovations for Poverty Action Blog
Sneha Stephen and Pooja Wagh Editor's Note: This post is cross-posted with NextBillion, here.   In the past couple of decades, the world has experienced a radical shift in the way information is accessed and delivered. The technological revolution has made it possible for most people in rich countries and a significant number in poor countries to become knowledgeable on any imaginable ...
December 11, 2014 - 10:36pm from MicroCapital
Credit Suisse, a Swiss global financial services company with operations in 50 countries, has agreed to donate an undisclosed sum to Opportunity International, a US-based nonprofit providing microfinance in 22 countries, to launch a three-year program entitled “Empowering Generational Change Through Education” that focuses on lending for education initiatives. The new program is expected to help educate 530,000 children in 10 countries through new initiatives in Colombia and ...
October 23, 2014 - 9:54pm from MicroCapital
The US Agency for International Development (AID), a government agency that provides international economic and humanitarian assistance, and CGAP (Consultative Group to Assist the Poor), a US-based, nonprofit that aims to facilitate the expansion of financial access, recently awarded approximately USD 1 million to ideas42, a US-based nonprofit consulting and behavioral design firm, for the implementation of a SMS text-messaging “push” notification system and voice-based platform that is ...
October 20, 2014 - 2:51pm from Innovations for Poverty Action Blog
Amber Davis   In Uganda, nearly half of surveyed adults were unable to correctly answer a question about interest rates according to a recent Finscope study. When asked “If you were offered a loan with 5% monthly interest rate and a loan with 20% annual interest rate, which loan would offer better value?” 49% ended up choosing the more expensive loan ...
August 29, 2014 - 5:03am from MicroCapital
MicroCapital: Please tell us a bit about the Remittances Action Group of the European Microfinance Platform (e-MFP). Gera Voorrips: As you know, e-MFP is a membership organization that promotes members working together on specific topics on which they have a shared interest. In 2011, I took the initiative to engage several members who were working on remittances to launch an
August 17, 2014 - 5:03am from MicroCapital
The Inter-American Development Bank (IDB), a US-based multilateral finance institution operating in Latin America and the Caribbean, reportedly has approved a loan of USD 100 million to promote lending to micro-, small and medium-sized enterprises (MSMEs) in El Salvador. The funding will be primarily available for MSMEs that operate production-oriented ventures with the aim of increasing their productivity and competitiveness. It is expected that approximately 1,000 MSMEs and a further ...
July 15, 2014 - 5:03am from MicroCapital
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced a USD 25 million investment in Proyectos Educativos Integrales del Peru (PEIP), an education company, to create a university and a network of technical institutes to educate low-income students in Peru. Part of this investment will also be used to establish an unspecified number of primary and secondary schools in the country. In a quote attributed to Mr. Jose Antonio Garcia ...