EIB, Banco ADOPEM Commit 15M euro to Support Women Entrepreneurs

The European Investment Bank Group (EIB Group) and Banco de Ahorro y Credito ADOPEM have announced a €15 million investment for supporting entrepreneurs and private sector in the Dominican Republic with special emphasis in women entrepreneurs and sustainable business development. The initiative is designed to increase access to finance, increase women's economic participation and create employment to address environmental challenges to Caribbean communities.

The financing will be offered to companies with less than ten workers, and typically have less access to appropriate credit, the financing was announced during the Ibero-American Summit in Madrid on 4 November 2026. The minimum 50% funding will be allocated to women entrepreneurs to promote financial inclusion, business development and women's engagement in the economic development of the country.

Key Highlight

• €15 million financing will strengthen small businesses and entrepreneurship
• At least half the funding will support women entrepreneurs
• Sargassum management will create sustainable business and employment opportunities

EIB President Nadia Calvino highlighted the need to increase access to finance for entrepreneurs and small businesses, especially women, who still struggle to access the right business financing. She explained that the partnership would facilitate the development of commercially viable activities related to the management of sargassum, so transforming a problem into an opportunity for local economic development.

A total of €10.5 million of financing will be provided for microenterprises and small businesses in the sectors of manufacturing, transport, agriculture, healthcare and other service sectors. The money will support businesses to grow, enhance productivity, invest in machines and pursue new business opportunities. Special focus will be given to women-owned and women-managed enterprises, further reinforcing the program's commitment to women entrepreneurship and economic empowerment.

The balance of the $4.5 million will be used to help small businesses collect, transport, dry and safely store sargassum, a type of seaweed that often piles up along the coastlines of the Caribbean. Over accumulation have negative impacts on the marine ecosystems, tourism and fishing activities as well as the livelihoods of the local communities, thus causing environmental and economic problems.

Banco ADOPEM Executive President, Mercedes Canalda de Beras-Goico said that they need to help local businesses deal with the challenges of sargassum in a responsible manner, and use it to create new business opportunities. She highlighted the importance of merging the financing with the practical knowledge so entrepreneurs can get involved in emerging markets and expand their operations.

The program is also in line with the European Union's Global Gateway program, Turning the Tide: Sustainable Practices and Economic Opportunities for Sargassum Value Chain Development in the Caribbean Basin. The regional program has the objective of gathering 660,000 tons of sargassum by 2027, of which 150,000 tons are to be retrieved in the Dominican Republic, as well as finding sustainable ways to use the collected material for commercial purposes.

In addition to the financing, the technical assistance will be supported by €1.1 million provided by the EU, which will help ADOPEM and the businesses involved identify projects that are commercially viable, design financing solutions and improve environmental standards. The assistance was announced on 2 October 2026 in Cancún, Mexico and will be managed by EIB Advisory and funded by EU Member States under the ACP Trust Fund.

The project, which was launched in 2006 in the framework of the EIB and ADOPEM cooperation, is an integrated approach to financial inclusion and sustainable business development. The financing contracts are still to be submitted for approval by the Superintendence of Banks of the Dominican Republic.