October 13, 2010
In the Dominican Republic, Habitat for Humanity puts its credit recuperation in the hands of the Investment Fund for Micro-business Development (FIME), World Vision’s microfinance branch.
SANTO DOMINGO (October 13, 2010) — The international non-profit housing organization, Habitat for Humanity, and the Investment Fund for Micro-business Development (FIME) have signed a contract in which FIME will assume the recuperation of Habitat for Humanity credit accounts in the Dominican Republic. The agreement will help Habitat to strengthen their “Fund for Humanity” in the Dominican Republic, allowing the organization to serve more low-income families and communities in need of its low-cost housing solutions.
Habitat for Humanity is an organization that, in partnership with others, promotes the eradication of inadequate housing through no-profit construction loans, helping families to build, improve or repair their homes. The families that Habitat works with typically have no other option for accessing the credit needed to obtain healthy, adequate housing.
FIME is the microfinance branch of World Vision, and is dedicated to promoting a better quality of life for small business people and their families through micro loans, technical assistance, training and business support.
According to Cesarina Fabián, executive director of Habitat for Humanity Dominican Republic, the selection of a microfinance institution for the recuperation of Habitat’s credit was made following an extensive evaluation and negotiation process, in which several local Habitat for Humanity staff members as well as representatives of the organization’s regional office for Latin American and the Caribbean were involved.
“Thanks to Habitat [for Humanity] for the opportunity, and thanks to World Vision for allowing us to extend the support of their brand,” says Yudelka Flores, director of FIME.
FIME has a presence in impoverished communities in the Dominican Republic, such as El Seibo, Azua, Sabana Perdida, Villa Altagracia, Barahona, Neyba and Jimaní.
The areas where the organization will be working to recuperate credit for Habitat Dominican Republic’s Fund for Humanity include San Francisco de Macorís, Nagua, San Juan de la Maguana, Barahona and Greater Santo Domingo.
In the above photo, from left to right, Juan de Dios Valdez, Director of Finance and Administration for Habitat for Humanity Latin America and the Caribbean, Yudelka Flores, FIME Director, Cesarina Fabián, Executive Director of Habitat for Humanity Dominican Republic y Claudio Doñé, National Director for World Vision.