Innovation and Social Transformation Highlighted: Fourth Edition CABEI SOLIDARIOS Microenterprise Awards

Santo Domingo, December 10, 2024 – This morning, the Central American Bank for Economic Integration (CABEI) and SOLIDARIOS, Council of American Development Foundations, celebrated the fourth edition of the CABEI SOLIDARIOS Microenterprise Awards to recognize microentrepreneurs who, with creativity, resilience, and innovation drive economic and social development in Latin America.

Eighteen microentrepreneurs from the Dominican Republic, Guatemala, Honduras, and Venezuela were selected from a list of 180 nominations. During the meeting, the mayor of Santo Domingo, Carolina Mejía, highlighted the fundamental role of micro-enterprises in generating employment and strengthening local economies: "Supporting micro-enterprises is supporting the sustainable growth of our communities and our economies," said Mejía.

Hostos Rizik, CABEI Director for the Dominican Republic, said, "At CABEI, we understand that the sustainable economic and social development of our region depends on the resilience and creativity of small entrepreneurs. For this reason, we reaffirm our commitment to be a catalyst of resources and an unwavering ally in their efforts.''

Manuel Ogando, CABEI Country Manager for the Dominican Republic, said, ''This award represents the confidence we place in the microenterprise sector as an essential pillar of our economies. For CABEI, this program is a tangible demonstration of our commitment to promoting financial inclusion, the generation of quality jobs and equitable economic growth throughout the region. ¨

Innovation and Social Commitment Awards

The winners were: William Reyes of Willy Iron Designs, with the Young Entrepreneur Award, and MarilúVásquez of Paletesia and Electrónica FM, selected as Woman Entrepreneur. In this version, the awards for family businesses went to Mundi Impresos of Ana López, Artículos Americanos y Miscelánea of María Col Yool, and Colmado MyM of Yogely Garcia.

In the educational field, the Educational Microenterprise Award went to the Rosa Misely School of Josefa Acevedo, the Camino Divino Day Care Center of Santa Feliz and the Tia Rhina School of Rhina Torres for their contribution to the development of children's education. The category of Tourist Commerce and/or Artisan Production recognized D' Creativa Artesanal of Idelmo Encarnación and Emiro Art of Ángel Ojeda, while in Agricultural Development, Carlos Pinales of Vegetales Carlos, Yanina Rosales of Abarrotería y Ganadería El Buen Gusto, and Rosa Rodríguez of La Compañía del Jardín were awarded prizes. In the category Production, Commerce, or Innovative Service, Dolores Lluberes with her Ornamental Fish Store, Elsa Maria Gomez with Todo Usado Suriel, and Esperanza Agramonte with DecoEsperanza Muebles y Más were recognized.

The Environmental Impact Award was presented to Yessenia Buíz of Botellera y Metalera La Gorda, a microenterprise that promotes sustainability through recycling. Similarly, the Regional Microenterprise of the Year Award went to Milciades Mercedes of Centro Artesanal y Cultural Los Hicacos, for his work in cultural preservation and local economic development.

Financial Support for Microenterprises

On this occasion, the award received the support of financial institutions such as Banfondesa, Banco ADOPEM, the Dominican Development Foundation, Banco Múltiple Ademi, CoopAspire, ALNAP, CoopEclof, and recognized international entities such as IDH Microfinanciera (Honduras), the International Foundation for Community Assistance of Guatemala (FIACG), and the Eugenio Mendoza Foundation (Venezuela). During the awards ceremony, Banco Ademi was recognized with the Institutional Management Award for Financial Inclusion for its commitment to the sustainable development of the MSME sector in the Dominican Republic.

Commitment to Regional Economic Development

CABEI and SOLIDARIOS reaffirmed their commitment to strengthening microenterprises in Latin America, highlighting their key role in job creation, innovation, and economic sustainability: "Microenterprises are fundamental to our countries' economies and, as they grow, they become engines of social and economic change," said Ricardo Canalda, SOLIDARIOS' representative.

The purpose of these awards is not only to recognize entrepreneurs who are already making a difference, but also to motivate others to follow their example, hand in hand with financial institutions that are contributing to the development of a more robust and sustainable entrepreneurial ecosystem in the region.