Adofintech joins the “We Finance Code” to boost credit for women entrepreneurs

SANTO DOMINGO – The Dominican Association of Fintech Companies (Adofintech) signed the “We Finance Code,” an innovative international initiative that seeks to expand access to financing for women-led MSMEs in the Dominican Republic, the only pilot country for this initiative in Latin America and the Caribbean. The initiative is supported by IDB Invest, IDB Lab, and the global platform We-Fi, which focuses on women's economic empowerment.

The signing took place during the Fintech Market 2025 event, where Catherine Espaillat, Adofintech's executive director, highlighted the importance of this alliance as a key step in closing the gender gap in business credit. “We believe in the power of data, technology, and partnerships to build a more equitable financial system,” she stated.

In addition to Adofintech, the fintech companies Mercofact, Merlata, Kompii, and Panacrédito also signed the Code, joining a national coalition committed to transforming financing for women entrepreneurs, especially in sectors like el inmobiliario , where many lead projects and companies.

According to recent studies, closing the gender gap in the country could increase GDP by 18%, representing an economic opportunity of over US$28 billion. Furthermore, financial institutions that have developed products specifically for women have seen growth of up to 60% in their female loan portfolios.

This initiative also has the support of the Central Bank and the Superintendency of Banks, strengthening the collaborative approach between the public and private sectors.