Promoting the productivity and competitiveness of microenterprises in the Dominican Republic.

  • Country: Dominican Republic.
  • Location: 6 provinces and 9 municipalities in the Dominican Republic.
  • Duration: January to December 2017.
  • Participants: 1,000 MSMEs, 9 municipalities, and civil society organizations in the project's target municipalities.
  • Area of Specialization: Microenterprise Training, Microfinance Services.

Starting point

In the southern Dominican Republic, where poverty rates reach 36% of the population and 8% live in precarious situations, MSMEs (micro, small, and medium-sized enterprises) can be a tool against poverty.

However, although the government has promoted laws and initiatives to support these types of businesses, they continue to face problems that hinder their growth and entry into the formal market. The main ones are: difficulty accessing financial products and services, a favorable regulatory and institutional framework, and a lack of entrepreneurial skills.

Objective

Consolidating the sustainable and inclusive economic growth of rural microentrepreneurs in the Dominican Republic

What is the project about

CODESPA, with the support of local partners, aims to help 1,000 MSMEs become the driving force of economic and social development in the southern Dominican Republic. This will benefit their families in terms of economic stability, income, and educational opportunities.

On the one hand, local NGOs will be trained so they can expand the dissemination of this project and support new MSMEs in legal matters and regulations.

We will also work with nine municipal governments through advice and support, so that as local authorities they have the capacity to promote laws that favor the creation and promotion of micro and small businesses.

Together with microfinance institutions, microcredits tailored to the needs of these small entrepreneurs and their repayment capabilities will be developed.

Finally, we will help them develop strategic plans and services or products tailored to the needs of their potential clients.

Entities that support this project