MICROCAPITAL BRIEF: Asociación Dominicana para el Desarrollo de la Mujer (ADOPEM) of the Dominican Republic Lends $1.6m to 728 Micro-, Small, Medium-Sized Enterprises (MSMEs)

Asociación Dominicana para el Desarrollo de la Mujer  (ADOPEM), a microfinance institution (MFI) in the Dominican Republic, reportedly has provided loans totaling DOP 70 million (USD 1.65 million) to 728 micro-, small and medium-sized enterprises (MSMEs) in the country [1]. ADOPEM was able to provide the loans after money was released from its required reserve, and they were distributed between May and August 2013. A majority of the loans, totaling DOP 35.7 million (USD 840,000) was disbursed to 509 women-owned businesses. ADOPEM loans have terms of four to 36 months, and although the exact interest rate on the loans has not been specified, it is less than the 9 percent maximum rate imposed by the Central Bank of the Dominican Republic. 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.

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 four 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.

Sources and Additional Resources:

[1] El Sol de Santiago: “Banco ADOPEM: Prestó Más De 70 Millones Descuento Encaje Legal,” http://elsoldesantiago.com/2013/09/banco-adopem-presto-mas-de-70-millones-descuento-encaje-legal/

MicroCapital.org Article: “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,” September 18, 2013, https://www.microcapital.org/microcapital-brief-asociacion-dominicana-para-el-desarrollo-de-la-mujer-adopem-of-the-dominican-republic-collaborates-with-codespa-la-agencia-espanola-de-cooperacion-internacional-para-el-desarrol/

MicroCapital.org Article: “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: Central Bank of the Dominican Republic, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Central+Bank+of+Dominican+Republic+%28Banco+Central+de+la+Republica+Dominicana%2C+BCRD%29

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