MICROCAPITAL BRIEF: Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic Collaborates with Codespa, La Agencia Española de Cooperación Internacional para el Desarrollo (AECID) of Spain to Launch Agricultural Loan Program

Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM), a microfinance institution based in the Dominican Republic, recently announced that it will collaborate with Codespa, a Spanish NGO that aims to increase access to jobs, healthcare and information technology, and La Agencia Española de Cooperación Internacional para el Desarrollo (AECID), a Spanish nongovernmental humanitarian organization, to provide loans to farmers in the Dominican Republic [1]. As part of the deal, which is the outcome of five years of research by ADOPEM and Codespa, ADOPEM will disburse loans to 12,000 people over an unspecified time period. Farmers who obtain the loans will receive agricultural training from ADOPEM and have a choice of various repayment methods that can be adapted to their crop production cycles [1]. AECID will assist in the design and implementation of the program. Further information has not been released.

As of year-end 2012, ADOPEM reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 91.5 million, a gross loan portfolio of USD 71.9 million, return on assets (ROA) of 4.58 percent, return on equity (ROE) of 18.7 percent and USD 34.8 million in total deposits. The number of depositors is not available. As of 2011, Codespa reached 150,000 people through 151 projects in Africa, Asia, Europe and Latin America. As of the same year, Codespa reported total assets of EUR 23 million (USD 30 million). As of December 31, 2007, AECID had 153,000 outstanding loans totaling USD 3.83 billion, ROA of 5.1 percent and ROE of 21 percent.

By Megan McGowan, Research Associate

About Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM):

Established in 1982, Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) is a microfinance institution based in the Dominican Republic. It provides a number of financial products and services, including microloans, savings and insurance products. It also provides non-financial services such as enterprise skill development and financial literacy education. Loans have terms of 4 to 36 months. As of year-end 2012, Banco ADOPEM reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 91.5 million, a gross loan portfolio of USD 71.9 million, return on assets (ROA) of 4.58 percent, return on equity (ROE) of 18.7 percent and USD 34.8 million in total deposits.

About Codespa:

Established in Spain in 1985, the Codespa Foundation is a non-governmental organization that works in developing countries with the intent of bringing poor populations out of poverty. As of 2011, Codespa has reached 150,000 people through 151 projects in Africa, Asia, Europe and Latin America. As of the same year, Codespa reported total assets of EUR 23 million (USD 30 million).

Sources and Additional Resources

[1] Mundo Microfinanzas, August 7, 2013, http://mundomicrofinanzas.blogspot.com/2013/09/banco-adopem-presenta-agrocredito-en.html

[2] Banco Adopem: http://www.bancoadopem.com.do

[3] Codespa: http://www.codespa.org

AECID, “Good Practice in Microfinance,” June 3, 2008, http://www.aecid.es/galerias/descargas/noticias/PRESENTATION_SPAIN_1-AECID_DISCUSSION_FINAL.pdf

MicroCapital.org story: “MICROCAPITAL BRIEF: CAF Development Bank of Latin America, Codespa Foundation Study Possible Trust Fund for Rural Producers in Ecuador,” February 26, 2013, https://www.microcapital.org/microcapital-brief-caf-development-bank-of-latin-america-codespa-foundation-study-possible-trust-fund-for-rural-producers-in-ecuador/

MicroCapital.org story: “MICROCAPITAL BRIEF: Fundacion Microfinanzas BBVA of Spain Takes 31% Stake in Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic,” November 28, 2012, https://www.microcapital.org/microcapital-brief-fundacion-microfinanzas-bbva-of-spain-takes-31-stake-in-asociacion-dominicana-para-el-desarrollo-de-la-mujer-adopem-of-the-dominican-republic/

MicroCapital Universe Profile: Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Asociaci%C3%B3n+Dominicana+para+el+Desarrollo+de+la+Mujer+%28ADOPEM%29

MicroCapital Universe Profile: Codespa Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Codespa+Foundation

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