Winning MSMEs in CABEI Solidarity to Microenterprise

Eighteen microentrepreneurs from the Dominican Republic, Guatemala, Honduras and Venezuela were selected from 180 nominations to be recognized for their work, innovation, perseverance and support to the economic development of their localities. As well as Banco Ademi for its commitment to the sustainable development of the sector. MSMEs.

The Central American Bank for Economic Integration (CABEI) – Solidarios and Council of American Development Foundations, held the fourth edition of the CABEI-Solidarity Awards for Microenterprise as a show of support for one of the most vulnerable segments of the productive fabrics.

Hostos Rizik, director of CABEI for the Dominican Republic, expressed: “At CABEI, we understand that the sustainable economic and social development of our region depends on the resilience and creativity of the small businessmen. Therefore, we reaffirm our commitment to be a catalyst for resources and an unwavering ally in their efforts.”

During the event, the winners highlighted the difficulties of starting a business without resources and the challenges they face to finance their activities, with the number of documents and requirements being one of the main challenges, as in the case of Marilú Vásquez, owner of Peletera y Electrónica FM.

Vásquez said in an audiovisual that It took years to get a formal loan with which to start his paletera due to a number of requirements that he did not meet because he did not have financial support.

On the subject, the executive president of the Ademi Multiple BankAndrés Bordas, highlighted during his words of gratitude for the award received on impact of MSMEs in the economy, with a contribution of 20% to the country’s gross domestic product (GDP).

“The National Survey of MSMEs 2022-2023carried out by the Central Bank, identified almost 400,000 micro and small businesses in the country, of which only 14.8% are formalized,” he added.

While Manuel Ogando, CABEI country manager for the Dominican Republic, indicated “This The award represents the trust we place in the microbusiness sector as an essential pillar of our economies. For CABEI, this program is a tangible example of our commitment to promoting financial inclusion, the generation of quality jobs and equitable economic growth throughout the region.”

The winners in the CABEI-Solidarity Awards for Microenterprise

• The award for Regional Microenterprise of the Year was awarded to Milciades Mercedesfrom the Los Hicacos Craft and Cultural Center, for their work in cultural preservation and local economic development.

• William Reyesby Willy Iron Designs with the Young Entrepreneur Award.

• Marilu Vasquezfrom Paletera and Electronica FM, selected as Entrepreneurial Woman.

• The awards for family businesses went to Mundi Impresos, from Ana LopezAmerican Articles and Miscellaneous Maria Col Yool and Colmado MyM Yogely Garcia.

• In the educational field, the Educational Microenterprise Award went to the Rosa Misely School of Josefa Acevedothe Divine Path Nursery Happy Santa and the Tia Rhina School of Rhina Torresfor his contribution to the development of early childhood education.

• The Tourism Commerce and/or Artisan Production category recognized D´ Creativa Artesanal of Idelmo Encarnacion and Emiro Art of Angel Ojeda.

• In Agricultural Development they were awarded Carlos Pinales from Vegetables Carlos, Yanina Rosales of Grocery and Livestock El Buen Gusto and Rosa Rodriguez of The Garden Company.

• In the Production, Commerce or Innovative Service category, the ventures of Dolores Lluberes with its Ornamental Fish Store, Elsa Maria Gomez with Everything Used Suriel and Esperanza Agramonte with DecoEsperanza Muebles y Más.

• The Environmental Impact Award was presented to Yessenia Buiz from Botellera y Metalera La Gorda, a micro-business that promotes sustainability through recycling.