ADA’s activities in Central America
Central America is a key region for ADA where the first interventions took place in 2008 via a partnership with REDCAMIF, a regional network representing around 120 microfinance institutions (MFIs) in Central America and the Caribbean. While this partnership initially aimed at supporting local MFIs in developing inclusive finance products and services, the partnership has now broadened in scope. Nowadays, REDCAMIF continues to be a key implementation partner for some of ADA’s projects in the region.
Overview of ADA’s current activities in Central America and the Dominican Republic
- The YES-FI programme (Young Entrepreneurs Sustainable Financing Initiative), launched in 2019, aims to prepare young entrepreneurs for investment through two partner incubators in Nicaragua and Guatemala.
- The ICFI programme (Inclusive Climate Finance Initiative) was launched in Guatemala and the Dominican Republic in 2024 and aims to channel climate funds to financial institutions and SMEs that will receive support in preparing for this type of investment.
- In addition, since 2022, ADA has been conducting pilot projects and forest value chain (FVC) structuring projects in Guatemala and Costa Rica.
- ADA is also a shareholder in Serinsa, a company that facilitates the marketing of microinsurance products, and sits on its board of directors.
REDCAMIF’s annual conference brings together key regional actors
REDCAMIF’s 11th Central American and Caribbean Microfinance Conference which was held from 24 to 27 June in San José, Costa Rica, provided an ideal platform for both partners to showcase their activities alongside other Luxembourgish and international inclusive finance actors.
ADA’s Executive Director Laura Foschi was among the experts interviewed on the topic of ‘The Future of Sustainability: Finance and Sustainable Culture’ at the event. She explained ADA’s approach by highlighting that “Acting sustainably means taking into account social, climatic and environmental vulnerabilities, particularly at this time of multiple crises.”
ADA was represented on numerous panels on the link between poverty alleviation and financial inclusion with climate adaptation, sustainable forestry and biodiversity conservation. The event was also an occasion to hold the first Spanish edition of the training in agricultural and rural finance (FAR) which ADA organises in a different African country every year in collaboration with the Food and Agriculture Organisation (FAO) of the United Nations.
During the event, REDCAMIF presented ADA with an award in recognition of ADA’s “valuable and outstanding support in strengthening inclusive finance in Central America and the Caribbean, promoting equitable access to financial services and expanding economic opportunities for thousands of families. Its work has contributed to building a more inclusive, fair and resilient future.”