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Banco ADOPEM: From NGO to financial institution, but the goal remains the same

How a local financial institution can be a good source of help in terms of improved financial literacy and empowerment for the community.

Photo of Joan Cabré Puig
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Banco ADOPEM (Asociación Dominicana para el Desarrollo de la Mujer (ENG: Dominican Association for Women's Development)) is a Dominican financial institution  founded 25+ years ago as a non-profit organization by female professionals concerned about poor life standards of low-income Dominican women. In 2005, they became a financial institution specializing in microfinance, but their core values remain the same and their social commitment continues, now being funneled through their foundation (http://www.bancoadopem.org.do).

The foundation offers a wide range of programs and courses that seek improvement of financial literacy, not only for entrepreneurs but for kids and teens as well. Other courses can be found regarding good business practice and human development workshops.

http://www.adopem.org.do/centro-de-capacitacion/acciones-formativas/ (Spanish)

Therefore, I want to highlight the key role that local financial institutions can play to reach and help communities. The benefits of their actions are not limited to the improved financial literacy and self-management skills that acquire the participants of these programs, but also translate into economic synergies due to the encouragement of entrepreneurial spirit and collaboration.


What do you guys think the role of financial institutions is and/or will be in the near future regarding communities enhancement?

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Photo of Eliza Rosenbaum

Joan, thanks for sharing – sounds like ADOPEM is having a huge impact on the community. Interesting to see they partnered with Junior Achievement and the Citi Foundation to train over 3,000 female clients through their Enterprising Women program! http://www.adopem.org.do/2014/06/adopem-capacita-a-3000-mujeres/

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