latest news

Our latest press releases and project announcements. 

IDB signs agreement with ADOPEM and NESTLÉ to develop microfranchises

Dec 16, 2014

Santo Domingo, December 16, 2014— The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, today signed an agreement with ADOPEM Savings and Credit Bank and Nestlé Dominican Republic to develop a microfranchise model that will benefit low-income women in the Dominican Republic.

The project will expand an inclusive distribution model originally developed by Nestlé Dominican Republic to market its products in low-income communities through a microfranchise-based network made up of women from the same communities, as part of the company’s Shared Value Creation strategy. 

The IDB-MIF-ADOPEM-Nestlé project will benefit 4,500 low-income women, who traditionally have limited opportunities to manage profitable businesses, and most of whom are heads of households with dependents. It will also benefit some 370,000 people in low-income communities, who will gain access to recognized quality products.

The project is part of the "Economic Empowerment of Low-Income Populations through Integration into Inclusive Microfranchise -Based Social Distribution Networks," an initiative by the MIF, in partnership with the Citi Foundation, designed to test  the consolidation and expansion of inclusive distribution models. This project will be the initiative’s first to experiment with a microfranchise model.

The total cost of this strategic alliance is US $1.1 million, of which US $400,000 will be provided by the MIF, US $450,000 by Nestlé and US $250,000 by ADOPEM Bank.

An earlier partnership between ADOPEM and Nestlé was successfully established in 2013 with a pilot program, which is now ready to expand in order to generate both greater profits and evidence of the effectiveness that such programs have on reducing poverty.


About the Multilateral Investment Fund

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, is funded by 39 donors and supports private sector-led development benefitting low-income populations and the poor - their businesses, their farms, and their households. The aim is to give them the tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology. A core MIF mission is to act as a development laboratory - experimenting, pioneering, and taking risks in order to build and support successful micro and SME business models. More information at www.fomin.org. 

About ADOPEM

ADOPEM Savings and Credit Bank was established in the Dominican Republic in 2004 as an initiative of the NGO ADOPEM, led by Dr. Mercedes Canalda since its founding in 1982. It is a financial institution oriented toward the micro, small and medium enterprise market. It currently has 57 bank branches and 28 sub-agents all over the country, 339,000 credit customers, and 196,000 savings customers. It also offers a wide range of products, such as microcredit, agricultural loans, loans for small and medium enterprises and for remodeling and expanding of housing, etc.

ADOPEM Savings and Credit Bank is a member of the BBVA Microfinance Foundation, a non-profit organization created in 2007 as a social responsibility act of the BBVA Group, whose goal is the sustainable and inclusive economic and social development of the most disadvantaged, through Productive Responsible Finance.

About Nestlé

Founded in 1866,  today Nestlé is the largest food company in the world. With 283,000 employees, 456 plants, and offices in more than 84 countries. Nestlé owns the brands: MAGGI®, Carnation, Nescafé, Supligen, The Milkmaid, Nest, Nestlé Ice Cream, Nesquik, Cheerios, Buitoni, Purina, Friskies and Alpo, among others. In the Dominican Republic, Nestlé has contributed decisively to the health and welfare of the Dominican people for 57 years, offering products of the highest quality that provide adequate nutrition to all consumers.

In 2006, as part of its Creating Shared Value program Nestlé Dominican Republic founded its Plan Barrio (“Neighborhood Plan”) Program with the primary purpose of providing an opportunity for women in poor communities to improve their income levels through a micro-distribution business model. Through Plan Barrio, women receive information and counseling about nutrition and productive cooking workshops in order to improve their quality of life and the well-being of their families. For more information, consult www.nestle.do.



«December 2018»
MonTueWedThuFriSatSun
262728293012
3456789
10111213141516
17181920212223
24252627282930
31123456