Project objectives
To improve the quality of life of the low-income population of Central America and the Dominican Republic by strengthening the capacity of the microfinance sector as a tool for development.

Project Manager

REDCAMIF and the 7 members of the national networks:
ASOMIF (Nicaragua)
ASOMI (El Salvador)
REDIMIF (Guatemala)
REDMICROH (Honduras)
REDOMIF (Dominican Republic) 
- REDCOM (Costa Rica)
- REDPAMIF (Panama)

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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.

REDCAMIF, a partner of choice for more impact

To expand their services, MFIs rely on national networks whose role is key to developing appropriate financial products and creating an enabling policy environment.

These networks are themselves part of the REDCAMIF (Red Centroamericana y del Caribe de Microfinanzas) network, a regional microfinance network that groups seven national networks: 

  • Network of Microfinance Institutions of Guatemala (REDIMIF),
  • Association of Microfinance Organizations of El Salvador (ASOMI),
  • Network of Microfinance Institutions of Honduras (REDMICROH),
  • Nicaraguan Association of Microfinance Institutions (ASOMI),
  • Network of Microfinance Organizations of Costa Rica (REDCOM),
  • Panamanian Microfinance Network (REDPAMIF),
  • Dominican Microfinance Network (REDOMIF).

Together, these networks represent 138 member MFIs, for a total coverage of 1.8 million clients of which 60% are women and 40% live in rural areas.

Strengthening the social added value of microfinance 

Throughout its almost 20 years of existence, REDCAMIF has worked to professionalize and specialize the microfinance sector through the development of a series of programs and projects aimed at strengthening the sector's capacities, promoting innovation in financial and non-financial products and services adapted to the needs of low-income populations in order to improve their quality of life.

In this logic, ADA and REDCAMIF are working together to increase the capacities of microfinance clients, through the access and use of responsible and inclusive financial services by promoting a broader vision of social performance within MFIs, encouraging the use of technology to reduce transaction costs and improve access and agility of financial services, strengthening the capacities of MFIs to offer financial services with high social added value, as well as strengthening the risk management of MFIs to ensure the sustainability of their inclusive financial services.

ADA and REDCAMIF are working together to promote responsible and inclusive finance in order to facilitate transparency and information exchange by MFIs, to manage the knowledge of national networks, and finally, to create partnerships to strengthen microfinance in the region.

Part of the REDCAMIF project's activities to develop value-added financial services fall under the same theme of combating the effects of climate change. The development of green and rural microfinance products is currently underway in 16 MFIs.

At the end of July 2020, the regional microfinance conference organized by REDCAMIF will be held in Honduras.

ADA supports as well the activities of SERINSA (Servicios Inclusivos SA) in order to intensify the distribution of microinsurance products through the national networks affiliated to REDCAMIF and their member MFIs.

Networks REDCAMIF + key figures EN

REDCAMIF: an increased impact thanks to networking


Objective: promoting financial inclusion in the region

Set up between August 2012 and December 2017 with a budget of 6.4 million euros, the ADA-REDCAMIF project aimed to promote financial inclusion in Central America and the Dominican Republic:

  1. providing MFIs with ongoing access to financing to expand the provision of inclusive and sustainable financial services in the region;
  2. strengthening the risk management capacity, corporate governance, social performance management and sustainability of the 7 national networks and the regional REDCAMIF network.


The project was managed by REDCAMIF, with local support from ADA and contributions from the 7 national networks: REDIMIF, REDMICROH, REDOMIF, ASOMIF, ASOMI, REDCOM et REDPAMIF.

José Luis González Renderos

José Luis González Renderos, Former 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.​"




Collaboration around 3 themes

To achieve this objective, the ADA-REDCAMIF project to expand inclusive finance was based on three fundamental pillars:

  1. Capacity building
  2. Knowledge Management
  3. Development of inclusive financial products and services in partnership with MFIs

1. Capacity building

At network level
The 7 national REDCAMIF networks were supported to implement a relevant income-generating project for member MFIs, which would contribute to their financial viability. Currently, 5 of these projects continue to be implemented and generate revenues.

At the MFI level
The MFI members of these 7 national networks were supported, in order to make them more autonomous and efficient in their financing process for micro and small enterprises and small farmers. This reinforcement took place at two levels:

  1. Strengthening risk management and governance, through the provision of technical assistance, training and coaching services;
  2. Strengthening transparency and social performance through evaluations, training and data dissemination.

Based on a participatory approach, the project also aimed to improve knowledge exchange between the different actors and members of the REDCAMIF network by using information technologies.

Training: In 2017, risk management training was conducted in Guatemala, the Dominican Republic and Nicaragua, and governance training was also provided in Honduras, El Salvador and Nicaragua.

Technical assistance: In 2017, 6 MFIs received technical assistance, enabling them to integrate social performance management systems into their strategies.

In total over the five and a half years of the project: 143 technical assistance contracts for 98 MFIs.


2. Knowledge Management

In addition to supporting pilot projects, knowledge was disseminated through meetings organized with national networks to share project implementation experiences, as well as with member MFIs on risk management, coaching and leadership, internal control, rural finance, green credit and climate change issues. These meetings also enabled the experiences gained during the project to be capitalised on.

In addition, a process of capitalisation of experiences was conducted through information exchange meetings with MFIs on different topics.

In this regard, ADA and REDCAMIF organized a workshop in April 2017 to capitalize on experiences in rural finance and housing in Panama, in which MFIs from the pilot project to develop new products in rural finance and housing participated. This workshop aimed to systematize the experience gained during the implementation of the pilot projects.

More information about the workshop

3. Development of inclusive financial products and services (IFS)

In 2014, an initial diagnosis of the needs of the clients of the MFI members of the national networks made it possible to highlight needs in terms of rural financing and housing. ADA and REDCAMIF then carried out market and feasibility studies to design products to meet the needs in these two areas: savings, leasing, insurance, loans extended to areas such as green energy...

In 2015, following this diagnosis, the project supported initially 25 MFIs to develop adapted financial services. Then, following the good progress of the project, 32 MFIs were finally supported.

Rural financing
4 rural financing products were proposed by 15 MFIs: green credit, credit to improve energy efficiency, credit for women entrepreneurs and micro-leasing.

Through the 15 MFIs, a total of 2,794 clients benefitted from these products according to their needs and USD 2,8 million were disbursed in credits.

5 products to fund housing-related products were proposed by 17 MFIs: housing improvement credit comprising two options (gradual improvement of housing or its comprehensive improvement), water sanitation, home purchase, purchase and legalisation of land ownership and house construction.

Through the 17 MFIs, a total of 5,538 clients benefitted from these products according to their needs and USD 14,1 million were disbursed in credits.

The housing improvement credit proved to be very popular!

Of the five products made available by the 17 MFIs, housing improvement credit was chosen by 92% of the clients. The advantage of this product is that it offers two options:

  • comprehensive improvement, which is aimed at clients who have a high payment capacity enabling them to use a single credit to renew their home entirely;
  • gradual improvement, a solution which entails less risk, since it enables clients who have a more limited payment capacity to invest occasionally in small-scale renovations, thereby protecting them from a possible over-indebtedness.

Download the results REDCAMIF 2012-2017 in PDF format (in spanish)

Case studies

Of the 32 MFIs that participated in the pilot project to implement inclusive financial products and services in rural finance and housing, the pilot projects of 6 MFIs were published (5 for rural finance and 1 for housing). These case studies are a kind of "best practice" and should serve as a model if the project is replicated in another MFI.
Rural financing


Read the case studies in French

Read the case studies in Spanish

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