The Project
This new Five Talents program provides an unusual opportunity to support the Episcopal Diocese of the Dominican Republic. The diocese has been active in microfinance and wanted to study ways to improve its activities. The result was a decision to partner with Esperanza International, a local Christian microfinance institution, to provide economic and spiritual development to help the urban poor.

The program was jointly developed by the diocese and Esperanza with the support of Five Talents and The Chalmers Center for Economic Development.

Within one year, it will serve about 200 families living in one of the poorest slum areas in Santo Domingo, the capital city. If the program grows as expected, it will assist 390 families by the end of the second year. At the end of the third year, it will serve 510 families. At this point the income from interest would fully pay the staff and operating costs of the program.

The program will primarily use a well-tested, group loan methodology designed to serve the poor. Esperanza’s management is strong and very experienced, and the church will be an able and active partner in this program. Esperanza has a strong spiritual development program and a long, close relationship with the diocese on health and education programs.

Background
The diocese (Iglesia Episcopal Dominicana) has had a small microfinance program run by a committee of the Episcopal Church Women since 2001. In January 2007, Five Talents, along with the Chalmers Center for Economic Development, presented a Christian Microenterprise Development Workshop for 42 priests and lay leaders. Based on the workshop’s review, the diocese decided to expand into La Barquita, one of the poorest slums in Santo Domingo, by partnering with Five Talents and Esperanza International.

Esperanza was founded in 1995 by David Valle, a former major league baseball player, and his wife in response to the conditions they saw while he was training in the Dominican Republic. The expansion into La Barquita, an area in the Sabana Perdida district of Santo Domingo and northeast of the Colonial Zone (where Columbus settled), is as result of the Episcopal Church having an established presence there. Reveranda Milquella Mendoza is the Episcopal Church Vicar for La Barquita.

Five Talents Needs Your Help
In 2010, Five Talents is raising $50,000 for its program in Dominican Republic. Please prayerfully consider a gift today.

Click here to read a program update.