Growing service and tourism sectors in the Dominican Republic haven’t been enough to stem the high unemployment rates and income inequality in the country. Approximately a third of the population is living below the poverty line, and a significant number of people still lack access to formal financial services such as bank accounts.
Accion has been working in the Dominican Republic since 2006, when we began collaborating with Banco ADEMI, with the goal of modernizing Banco ADEMI's credit operations and developing new financial products tailored to low-income clients. Banco ADEMI is working with Accion and the Inter-American Development Bank to develop innovative strategies for expanding rural microfinance. In addition, Accion has supported Banco ADEMI’s efforts to design and develop innovative savings products for its clients.
Accion is supporting partner Banco ADEMI with management and technical assistance services.