Dominican Republic Market Profile

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 ...
July 14, 2014 - 3:55pm from MicroCapital
The Grameen Credit Agricole Microfinance Foundation (GCAMF), which is based in Luxembourg and invests in “social businesses,” recently informed MicroCapital that it has made an investment of USD 500,000 in Nairobi-based Agriculture and Risk Enterprise Limited (ACRE), a microinsurance provider that aims to launch products in East and West Africa in exchange for an 8-percent stake in the company. ACRE grew out of the “Kilimo Salama” program of the Switzerland-based Syngenta Foundation for ...
June 16, 2014 - 5:04am from MicroCapital
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that it is loaning USD 18 million to Financiera Confianza, a Peruvian microfinance institution (MFI) that offers microloans and deposit services to low-income entrepreneurs [1]. The loan is intended to support the expansion of the MFI’s operations in low-income and rural areas in Peru. Financiera Confianza is one of the eight financial entities associated ...
June 1, 2014 - 10:00am from MicroCapital
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has disbursed a three-year, DOP 200 million (USD 4.8 million) loan to Fondo Para el Desarrollo Incorporated (FONDESA), a nonprofit microfinance institution in the Dominican Republic. The wholesale loan, which is specifically intended to increase the availability of funds for microentrepreneurs residing in rural areas, is expected to enable 15,000 retail microloans. As 2012, FONDESA ...
May 31, 2014 - 5:03am from MicroCapital
French telephone and internet service provider Orange is accepting applications for 2014 African Social Venture Prizes and the Partner Award through September 19, 2014 via Orange’s “pan-African web portal,”[1], http://www.starafrica.com. The award aims to honor “innovative” products and services that promote “health, agriculture, education, energy, industry and trade”[1] in Africa. The Orange African Social Venture Prizes include monetary awards of EUR 25,000 (USD 34,080) as the ...
May 8, 2014 - 10:43am from Savings Revolution blog
By the time my daughter Sayer was six years old, she had learned how to play games on our old Apple computer. Once when I had brought some work home from my office on my laptop, Sayer came up and looked at my screen. “What’s the name of that game, Daddy”, she asked?    I smiled, and said, “Excel”. Sayer asked how you played it, ...
May 8, 2014 - 8:14am from MicroCapital
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB) Group, recently announced that it has allocated USD 5.3 million for the testing, development and implementation of social impact bond (SIB) programs in Latin America and the Caribbean. MIF’s SIBs are intended to “offer opportunities for private investors to participate in developing and delivering services to low-income or vulnerable populations.” The bonds are to be structured as ...
April 21, 2014 - 4:45pm from MicroCapital
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, recently announced a USD 15 million subordinated bond investment in Banco de Finanzas, a Nicaragua-based commercial bank that is a wholly-owned subsidiary of Panama-based bank holding company Grupo Banco de Finanzas. IFC will underwrite USD 3.75 million of the purchase, and the remaining USD 11.3 million will be underwritten by the IFC Capitalization Fund, an equity and subordinated ...
April 16, 2014 - 5:03am from MicroCapital
Citi Asia, a subsidiary of US-based Citigroup that provides banking and card services to retail customers and small and medium-sized enterprises (SMEs) in Asia, recently launched Citi Mobile Collect, a mobile payment platform that enables customers to complete fund transfers via mobile phones, in China and India. The service allows small businesses to make mobile money transactions such as payments to merchandise providers that are Citi customers. The service, which is also available in ...
April 14, 2014 - 9:41pm from MicroCapital
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank (IDB), has disbursed loans to Peruvian credit unions Cooperativa de Ahorro y Crédito Abaco and Fortalecer to expand financial services via intermediaries, including other credit unions, private firms and non-governmental organizations (NGOs) that provide retail lending to rural clients. MIF has provided a subordinated loan of USD 5 million to Cooperativa de Ahorro y Crédito Abaco to ...
April 1, 2014 - 10:23am from MicroCapital
TriLinc Global Impact Fund (TriLinc), a US-based private investor in companies that it deems to contribute positively to socioeconomic development in emerging economies, recently disbursed a total of USD 5.7 million in loans through a series of investments in unspecified small and medium-sized enterprises (SMEs) in Brazil, Chile, Indonesia and Peru. The investments include: (1) a USD 500,000 loan with an annual interest rate of 12.43 percent to a sugar producer in Brazil; (2) a USD ...
March 30, 2014 - 2:55pm from MicroCapital
The Inter-American Development Bank (IDB), a US-based multilateral financial institution that seeks to support sustainable economic development in Latin America and the Caribbean, recently announced that it will create a USD 30 million credit fund that retail lenders in the Dominican Republic can access to expand financing deemed “medium- and long-term” to micro-, small and medium-sized enterprises (MSMEs). The fund will have a term of 25 years; a grace period of 5 years before the ...
March 25, 2014 - 8:47pm from MicroCapital
The Multilateral Investment Fund (MIF), a member of the US-based Inter-American Development Bank, has approved a grant of USD 150,000 to the Caribbean Information & Credit Rating Services (CariCRIS) of Trinidad and Tobago to provide services including the creation of credit ratings for 60 small and medium-sized enterprises (SMEs) in the Caribbean. Additionally, CariCRIS is to work with four unnamed commercial banks to incorporate its credit ratings into the banks’ loan appraisal ...
March 4, 2014 - 5:05am from MicroCapital
Orange Dominicana, subsidiary of Orange of France that offers prepaid mobile services in the Dominican Republic, and Banco Popular Dominicano, a commercial bank in the Dominican Republic, reportedly have launched the M-Peso mobile wallet and payment service in the Dominican Republic.  The new service will allow mobile customers to access bank accounts and credit cards, make payments, purchase airtime, pay bills, and transfer money to other Orange customers using their mobile phones.  GCS ...
February 6, 2014 - 6:38am from IFMR Blog
Guest post by Renuka Sane, Indian Statistical Institute, New Delhi Financial inclusion is a priority area in the minds of policy makers in India. The larger focus of this debate has been on access to credit and insurance. Savings products, and long-term pension products have received relatively less attention. It is often assumed that poor people do not have the ability to save towards an illiquid ...
February 6, 2014 - 12:46am from Microfinance Gateway News & Opinion
Credicorp Unit Agrees to Buy Control of Peru’s Top Microfinancer