Project objectives
To promote innovative financial products sustaining the sector

Project Managers


REDCAMIF and the members of the national networks


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Accelerating financial inclusion in Central America and Dominican Republic

ADA supports the expansion of inclusive finance products and services in Central America and the Dominican Republic through a technical and financial support programme to the REDCAMIF regional network.

In Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and the Dominican Republic, over 40% of the population lives below the poverty line. Despite the networking of microfinance institutions (MFIs), only 22% of the 5.5 million micro-entrepreneurs in the region have access to financing to grow their businesses. The penetration rate remains low in urban-peripheral and rural areas.

In these countries, MFIs rely on national networks for the extension of their services. The networks play a key role in developing inclusive finance and in bringing about a more favourable political environment. 

The national networks themselves are grouped around REDCAMIF, a regional microfinance network which today represents seven national networks: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and the Dominican Republic. Together, these seven networks gather 137 MFIs and serve more than a million and a half clients.

The REDCAMIF network has received technical and financial support from ADA since 2011. The projects we developed with REDCAMIF are then expanded to the seven national networks, which in turn, expand them to their member MFIs.


REDCAMIF: multiplied impact


Objectives of the project REDCAMIF: Promoting innovative financial products to sustain the sector

The joint project ADA-REDCAMIF for the expansion of inclusive finance rests upon three fundamental pillars:

  • The development of innovative inclusive finance services and products: based on a thorough diagnosis and on the application of new technologies, the products offered better meet customer requirements. The product offering has expanded to include savings accounts, leasing and insurance. The granting of loans has also been extended to provide access to green energies. In addition, the deployment of "mobile banking" enables clients to conduct financial transactions by using a simple mobile phone.
  • The sustainability of national networks: a support fund for innovative initiatives assists national networks in their development of strategic projects, which enables them to achieve financial viability. Projects include instilling and developing an entrepreneurial culture, together with the appropriate strategies within the networks. Financial reporting tools have now been put in place with REDCAMIF and the seven national networks.
  • Professionalising the sector: this approach is reflected in MFI capacity building, for example with regard to risk management, governance, transparency and social performance.
    Training sessions in risk management have been organised, in particular in Costa Rica, Honduras and Nicaragua. Technical assistance has been provided to six MFIs, allowing them to integrate social performance management systems into their strategies.

Based on a participatory approach, and making use of information technology, the project also aims to improve exchanges between the different actors and members of the REDCAMIF network.

A strategic alliance serving 1.2 million micro-entrepreneurs

By providing technical and financial assistance to REDCAMIF, ADA enhances the seven national networks’ relevance and impact, as well as that of the 133 MFIs accounting for 40% of the portfolio invested in rural areas, thus positively affecting 1.2 million micro-entrepreneurs, 59% of which are women.


March 2017

ADA invests in microinsurance

For the first time since 2011, ADA entered the capital of a microinsurance company. With this investment, ADA wishes to directly influence the development of financial inclusion in Central America.

We are glad to announce that in December 2016 ADA invested USD 100.000 in Servicios Financieros inclusivos S.A, (SERINSA S.A.) and subsequently joined their Board of Directors. The purpose of this investment is to facilitate access to quality microinsurance products for hundreds of micro-entrepreneurs and is part of a wider partnership between ADA and REDCAMIF (the Microfinance Network of Central America and the Caribbean) that dates back to 2007. Through this partnership, ADA has supported different projects, including the microinsurance project co-financed by the IADB (Inter-American Development Bank). ADA will support SERINSA in the mid-term and will seek to disengage after a period of 5 years. This investment is part of ADA’s ongoing commitment to improve the inclusive finance sector around the globe and in this case, specifically in Central America.

SERINSA was the result of REDCAMIF's microinsurance initiative that spun off to be converted into a knowledge management and service provider company. Currently, it focuses its activities on the promotion and development of microinsurance through the national networks affiliated to REDCAMIF. SERINSA was created in 2016 and REDCAMIF is its main shareholder.

This investment as well as all support provided to REDCAMIF and SERINSA by ADA have been made possible thanks to the constant support of the Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg.

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José Luis González Renderos, Vice-president of REDCAMIF

José Luis González Renderos, Vice-President of REDCAMIF


"The framework agreement signed with ADA allows REDCAMIF to develop innovative solutions and disseminate these new products through the networks of each country. In this context, ADA is a key strategic partner to efficiently develop the network."
Jose Luis Gonzalez Renderos, Vice-President of REDCAMIF




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