Dominican and Bolivian microfinance institutions win IDB microenterprise awards

Microfinance Focus, Sep 8, 2010: The Inter-American Development Bank has today announced two microfinance institutions from the Dominican Republic and Bolivia, respectively, and a renewable energy company in Nicaragua as this year’s winners of its annual awards which is presented to organizations offering outstanding services to microenterprise in Latin America and the Caribbean.

Banco  de Ahorro y Crédito ADOPEM S.A. of the Dominican Republic is the winner of the award for best microfinance institution for its offering of innovative products to underserved populations. Banco FIE S.A. of Bolivia is the winner of the award for best practices in social performance, given its business outreach; human resources policy and client services and community contribution.

Tecnosolución S.A. of Nicaragua will receive this year’s award for excellence in enterprise development services, whose 2010 edition recognized organizations that provided innovative solutions for microentrepreneurs and small businesses in rural areas. For over a decade, this Managua-based company is bringing electricity to remote areas in Nicaragua through solar power systems.

The awards will be formally presented on October 6, at the inauguration of the XIII Inter-American Microenterprise Forum (Foromic) in Uruguay, with the participation of IDB President Luis Alberto Moreno and key officials from Uruguay’s government.

© 2010, Microfinance News. All rights reserved. 2008-09