The executive president of Banco Adopem, Mercedes Canalda de Beras-Goico, highlighted the social commitment that the entity has to promote the leadership and economic empowerment of women in Dominican society, especially to provide financial inclusion and training to the most vulnerable sectors .
The banking executive expressed herself in these terms regarding the celebration of the International Day of Womanand asserted that gender equity enables a fairer and more prosperous future for the national economy and society in general, by giving women the opportunity to undertake any project.
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According to the 2021 results provided by the Impact Measurement and Strategic Development team of the BBVA Microfinance Foundation, to which Banco Adopem has belonged since 2012, of the more than 400,000 clients served by the Bank, 65% of them are women.
Of the women who have credit in the entity, 87% are in a state of vulnerability (and 25% in a situation of poverty). A situation that has been aggravated by the COVID-19 crisis.
In fact, the data shows that 9 out of 10 clients who have entered the entity in 2021 are in a vulnerable situation and almost 4 out of 10 are in a situation of poverty or extreme poverty.
They are also younger and less educated (half of them are under 30 years old and also half have only primary education at most).
The responsibilities of care and unpaid work are one of the main barriers that women face and that have been increased by the pandemic.
A burden with a high impact for the women served by the financial institution, since 87% of them are alone with dependents.
This situation limits their training levels and their access to the labor market, which is why many women venture into informal work or undertake activities that are not very productive and highly feminized.
This is what the data shows: 85% of the women served with credit by Banco Adopem work in retail trade and 38% live in rural areas.
Their businesses grow at rates higher than those of men: their sales grow at 10%, their surpluses at 6% and their assets at 21%.
As part of the BBVA Microfinance Foundation, Banco Adopem develops comprehensive value offers for women with financial and non-financial products that reduce their vulnerability, generating surpluses and improving the lives of them and their families.
Among them, it is worth highlighting the agro-woman product that does not require ownership of the land, the solidarity groups that offer group credit to the most vulnerable women, the alliance with Nestlé to strengthen micro-distributors with training and credit, or the multiple training programs developed with gender approach and in partnership with other entities.
“As a responsible bank, our corporate purpose is to make available to women all the opportunities available for them to participate in the benefits offered by the Dominican banking system, accessing financial services, which allow them to improve their quality of life.” she expressed. Mercedes Canalda de Beras-Goico.
