The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM), a microfinance bank in Dominican Republic, to implement an advisory services project for the institutional strengthening of the bank to enhance the financial services provided to low-income clients in the Dominican Republic. A press release from IFC states that the project will focus on improving the efficiency of the bank’s credit processes, strengthening its risk management and increasing savings mobilized. The overall amount of the project will be USD 382,000.

Ary Naim, IFC Country Head for Haiti and the Dominican Republic, said, “With this advisory program provided by IFC, ADOPEM will expand its outreach to under-served populations, providing them with much needed savings and loan products while improving risks and efficiency.”

According to the MIX Market, the microfinance information clearing house, ADOPEM had total assets of USD 56.5 million, a gross loan portfolio of USD 39.2 million and 89,071 borrowers as of 2008. As of 2009 it had a return on assets (ROA) of 5.58 percent and a return on equity (ROE) of 21.58 percent.

About International Finance Corporation (IFC):

A member of the World Bank Group, the International Finance Corporation (IFC) uses loan and debt securities, equity investments and guarantees with the intent of alleviating poverty. It invests in financial institutions and other companies in emerging markets as well as providing technical assistance. The IFC has 182 member countries that ‘collectively determine its policies, and approve investments.’ In fiscal year 2009, its new investments totaled USD 14.5 billion.

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

Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM) is a microfinance insitution (MFI) based in Dominican Republic that was founded in July 1982. It is a member of the Women’s World Banking network (WWB). Loans have terms between 4 and 36 months and can be used for either working capital or fixed investment purposes. The main clients are women that want to create their own businesses or to strengthen their existing microenterprises. According to the MIX Market, the microfinance information clearing house, ADOPEM had total assets of USD 56.5 million, a gross loan portfolio of USD 39.2 million and 89,071 borrowers as of 2008. As of 2009 it had a return on assets (ROA) of 5.58 percent and a return on equity (ROE) of 21.58 percent.

By Matthew Fox, Research Assistant

Sources and Additional Resources

International Finance Corporation (IFC): Press Release, 12 July 2010: http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=046F3C956CFDD80F8525775E0052E7A2

MicroCapital Universe: Asociacion Dominicana para el Desarrollo de la Mujer (ADOPEM): http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Asociaci?n+Dominicana+para+el+Desarrollo+de+la+Mujer+(ADOPEM)

MicroCapital Universe: International Finance Corporation (IFC): http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+(IFC)

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