Women’s financial inclusion is an effective policy to guarantee long-term economic stability. This was said during the presentation of the progress of the Promipyme Mujer program, the general director of the Council for the Promotion and Support of MSMEs (Promipyme), Ernesto Gómez Mazara, who pointed that out. “Women’s economic empowerment improves the well-being of society.”.
The officer said that “without women being included in the production fabric, we will not be able to continue to grow at the levels we have historically achieved. “as businesses led by women tend to be more stable over time.
Gómez Mazara pointed out that since the beginning of his administration, they have paid RD$ 5,963 million in credits; Of this amount, 52% was awarded to businesses led by women. “This is the most cost-effective way to balance the credit portfolio, reduce crime and get more women into productive clothing.”.
“Women are less likely to default, which makes them more desirable clients”he said, indicating that this probability decreases with age, “both men and women, but the difference between them does not remain constant.”
In the range between RD$100,000 and RD$200,000 or less, the probability of default is 14.4% lower in women than in men. “When evaluating the portfolio from September 2019 compared to September 2024, the deficit gap changed: although women improved their crime after the pandemic, men declined their mark by around 2%, which widened the gap to 5%, instead of 3%. as before the pandemic. “
Gómez Mazara pointed out that this overview shows that “Women’s funding is less risky”.
MSMEs
Micro, small and medium enterprises (MSMEs) represent 96% of the productive fabric, 61.6% of people employed and 32% of the gross domestic product (GDP).
Microenterprises, which are the smallest organizations and represent 94%, They have annual sales of up to RD$12,000,000 and employ between one and ten employees.. These focus on commercial activities, services (mostly personal), beverage provision and tourist accommodation.
“Those led by women represent less than 44% of the total”pointed out Gómez Mazara, clarifying that women are more likely to work their businesses from home. “While male-run MSMEs are more likely to have independent premises, 73.7%“.
When referring to the financing of productive units, Gómez Mazara pointed out that about 60% of MSMEs use loans from multiple banks, associations and savings and credit banks, as well as informal lenders.
“It is surprising that informal lenders are the third source of financing, which raises concern in terms of public policies. “said the director of Promipyme, indicating that this institution is the seventh financing option, going over family resources.
According to the official, as of October 31, 2024, the loan portfolio of Promipyme amounted to RD $ 9,352 million, with 48.2%, that is, RD $ 4,508 million, directed to men, 45.2% (RD $ 4,231 million) to women and 6.6% (RD $612,734,721.05) to legal entities. “This is one of the most balanced portfolios in the entire national financial system”pointed out Gómez Mazara.
At Promipyme, women represent more than 61% of current clients, who are in the age groups between 36 and 55 years old. “Women borrow at lower amounts, below RD$200,000 and for an average of six months, which seems to show more risk aversion compared to their male counterparts.”.
2024-11-14 19:30:00
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