Travel with us to the Dominican Republic!The planning for Women of Vision’s trip to the Dominican Republic (March 24-28, 2014) has begun! Registration ends January 9th; hurry to register as the trip space is limited to 12. For more information or to register, contact Beth Yeager.
This trip will focus on studying how World Vision and the Investment Fund for Microenterprise are bringing home through economic progress to the Dominican people.
The need for economic development in the Dominican Republic is crucial. Of the country’s 10 million people, 40 percent live in poverty and 13 percent of Dominicans are unemployed. The country’s top two income producers—tourism and agricultural exports—have been hard hit by the global recession. The Dominican Republic has also become home to approximately 1 million refugees from the neighboring, and desperately poor, country of Haiti.
In rural areas, few financial institutions are available. Many rural small business owners can’t meet the requirements for a traditional loan even where banks are close by. To access credit, they are often forced to rely on local moneylenders who charge high interest rates.
Each year, the Investment Fund for Microenterprise (FIME) helps Dominican families by tapping into their inherent desire to overcome hardship through hard work. As economist and Nobel laureate Milton Friedman once observed, “The poor stay poor not because they are lazy, but because they have no access to capital.” World Vision is helping to ensure access to microfinance services in areas of the Dominican Republic where honest and
enterprising men and women are struggling to build a better world for their children.