Blog

Come and travel with us to the Dominican Republic!

Women of Vision is pleased to host a Vision Trip to the Dominican Republic this October 19-23 . This trip is open to both men and women from all over the country!

In the Dominican Republic, Loida started a hardware store with a microloan. Photo: World Vision

In the Dominican Republic, Loida started a hardware store with a microloan.
Photo: World Vision

The need for economic development in the Dominican Republic is crucial. Of the country’s 10 million people, 40 percent live in poverty and 13 percent of Dominicans are unemployed. The country’s top two income producers—tourism and agricultural exports—have been hard hit by the global recession. The Dominican Republic has also become home to approximately 1 million refugees from the neighboring, and desperately poor, country of Haiti.

In rural areas, few financial institutions are available. Many rural small business owners can’t meet the requirements for a traditional loan even where banks are close by. To access credit, they are often forced to rely on local moneylenders who charge high interest rates.

Each year, the Investment Fund for Microenterprise (FIME) helps Dominican families by tapping into their inherent desire to overcome hardship through hard work. As economist and Nobel laureate Milton Friedman once observed, “The poor stay poor not because they are lazy, but because they have no access to capital.” This program will help ensure access to microfinance services in areas of the Dominican Republic where honest and
enterprising men and women are struggling to build a better world for their children.

Come and learn how World Vision and the Investment Fund for Enterprise (FIME) are making headway in their joint efforts to boost the number of active borrowers and train microproducers in the Dominican Republic. The goal of this five year economic development program is to help 4,917 microentrepreneurs in eight community development areas access credit for the first time and improve their family incomes. Over 60% of clients are female.

If you would like more information or to register, please contact WOV Program Manager Julia Cannell at jcannell@worldvision.org.

Leave a Comment