If you’ve been to the Dominican Republic, chances are, you saw the eastern part of the country, either the coast or the area around the capital of Santo Domingo.
Statistically, these are the places most visitors go.
Far fewer visitors go west. If you have, you may have more
What is a savings group?
Sometimes called savings groups, sometimes called Village Savings and Loan Associations (VSLAs), these are savings-led microfinance groups that work to combat poverty. For those unable to benefit from a formal financial institution, these groups offer participants an opportunity to save, grow their money, and take
Plant With Purpose is heavily committed to the use of community savings groups. Across seven countries, over 1,200 savings groups regularly meet. Community members can bring the cash they’ve been able to save, investing that money by purchasing shares. When they’ve accumulated enough in savings, they can then take out a loan
Savings groups help rural communities grow out of poverty through their own resources. As members gain the opportunity to save their money, that money is then lent out to reinvest back into the community through small businesses, livestock, education, and other means.
Alongside that activity, however, groups also gather a
In his village, there were no banks. And that was a big problem.
Palmarito is in the rural Dominican Republic. Like many rural parts of the country, the community lacked banks.
This wasn’t just an inconvenience. Having somewhere to save your money makes a big difference in economic wellness. Having
Trying to make an impact on the world isn’t an easy task. While change is possible, the process isn’t linear. There are ups and downs, setbacks, and moments of discouragement that every person who tries to make an impact faces.
That’s why a key trait of people who make a