Banco Ademi, which began operations in 1983 in Santo Domingo's marginalized neighborhoods as an NGO, has become one of the largest providers of financial services for micro, small and medium-sized enterprises (MSMEs) in the country. Banco Ademi was the first NGO in the country to become a commercial bank in 1997. Since 10 years, the Bank has been authorized to offer all the products and services typical of multi-service banks in the Dominican Republic. It serves nearly 171 950 clients, provides saving products and has a network of 74 branches covering the whole of the Dominican Republic.
Proparco's financing will support the growth of the portfolio of the institution which plays a major role in providing access to financing for low-income and vulnerable populations, enabling them to develop their microenterprises and thus meet their own needs and those of their households.
"Banco Ademi has been a key local player in the microfinance sector for 40 years. Its mission, to provide access to financial services for the country's micro-entrepreneurs, fits perfectly with one of the objectives of Proparco's 2023-2027 strategy, which aims to reduce inequalities. We are delighted to contribute to this objective with a committed partner like Banco Ademi," said Emmanuelle Riedel Drouin, Director of Financing at Proparco.
The project will support employment, the granting of micro-credits and the support of MSMEs in the country, thus contributing to Sustainable Development Goals no. 1 "No poverty" and no. 8 "Decent work and economic growth".