Oikocredit’s new loan to Banco Ademi will help meet low-income clients’ needs in the Dominican Republic

Amersfoort, the Netherlands – Social impact investor and worldwide cooperative Oikocredit has provided Banco Ademi with a DOP $550 million loan (EUR 8.55 million) to support and extend the bank’s financing in some of the Dominican Republic’s most disadvantaged communities.

Within Oikocredit’s community-focused development financing portfolio, 20% of the investment in Ademi will support people with low incomes in acquiring and improving their homes with climate resilience in mind, addressing the challenges faced in this hurricane-prone country. The partnership will also help the bank increase its financial services for underserved Dominicans and expand its support for strategic sectors such as smallholder agriculture, small and medium enterprises, education, health and the environment.

Ademi, which first became an Oikocredit partner in 2008, is today the only universal bank specialised in microfinance in the Dominican Republic. It is committed to promoting sustainable development throughout the country, ensuring equal growth opportunities for women and men, and reinforcing the social and environmental fabric of the communities where it operates.

Andrés Bordas, CEO of Banco Ademi, said: “This agreement with Oikocredit is a crucial step in the bank’s growth strategy. With this financing, we will continue facilitating access to decent housing for Dominicans, designed with climate adaptability features, and supporting the development of micro, small and medium enterprises, thus contributing to the economic and social wellbeing of our communities and strengthening their resilience against environmental challenges.”

Karina Vásquez, Oikocredit’s Investment Officer for Central America and the Caribbean, said: “We are delighted to strengthen our partnership with Banco Ademi. This new agreement is an example of how financial institutions can collaborate to create a positive impact in vulnerable communities, providing access to essential resources for small business development and helping people improve their living conditions.”

About Banco Ademi

Banco Ademi is one of the Dominican Republic’s leading providers of banking and other financial services, using simple and efficient processes to support the socioeconomic development of Dominicans in the country’s most underserved sectors.

Founded in 1983 as the Association for the Develo pment of Microenterprises, a non-profit microcredit organisation, Ademi became a bank in 2005 and in 2013 became authorised to offer the full range of multi-service bank products and services.

For more information, visit http://www.bancoademi.com.do 

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances more than 520 partners, with total outstanding capital of EUR 1,029.8 million (at September 2024). For more information, visit http://www.oikocredit.coop

-Ends-

Note for editors

For more information or to request an interview, please contact: Viviana Cordero, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: vcordero@oikocredit.org.