DR-M1036 : Promoting a savings culture through CCTs programs

This project will be jointly developed by the Office for the Coordination of Social Policies in the Dominican Republic (GCPS), and ADOPEM. In this sense, for the GCPS, the benefits are related to have a framework to support the IDB-MIF to strengthen efforts to promote financial inclusion of the beneficiaries of the conditional transfer program Solidarity, while creating opportunities that promote a way out of poverty status of this population group, also would be emphasizing the interest of the Social Cabinet to coordinate with the private sector to implement sustainable development strategies. For its part, the Bank ADOPEM, this project means to access a database of beneficiaries of the solidarity that is a major asset to increase its customer base. Furthermore, increased savings culture through this project will allow the ADOPEM increase the amount of savings accounts, and the rate of average amount saved per client, avoid seasonality in savings accounts, and in turn, will enable cross-sell other services offered as microinsurance and microcredit.