OFFICIAL ANNOUNCEMENT
MEDIA CONTACTS
Becky Svendsen Harbaugh, HOPE International rsvendsen@hopeinternational.org
Melinda Clark, Esperanza International mclark@esperanza.org
ESPERANZA INTERNATIONAL FOUNDATION ENTERS NEW LEADERSHIP AGREEMENT WITH HOPE INTERNATIONAL
LANCASTER, PA, U.S./SANTO DOMINGO, DOMINICAN REPUBLIC – February, 13, 2023 – U.S.-based Esperanza International Foundation has completed an agreement to further integrate their operations with HOPE International (“HOPE”), a global network of Christ-centered microfinance institutions and savings group programs. As part of this agreement, the foundation’s 501(c)3 nonprofit will be absorbed by HOPE, which will also take on majority representation on the board of directors for Asociación Esperanza Internacional (“Esperanza”) in the Dominican Republic (D.R.). This agreement has been approved by the boards of both organizations.
With nine branch offices around the D.R., Esperanza serves more than 7,000 women and men, offering financial services, training, and holistic outreach activities like health services. In 2022, they disbursed more than $4.4M in loans, a majority being invested in women business owners. About half of those served by Esperanza are descendants of Haitian immigrants who live in often marginalized and underserved communities around sugar cane plantations.
Esperanza was founded by Dave Valle, a Major League Baseball player who visited the D.R. for training and witnessed the needs of children and families living in poverty. In 1995, Dave and his wife, Vicky, launched Esperanza, “to free families from poverty and share the hope of Christ,” which grew into a Christ-centered microfinance organization with a focus on holistic transformation.
HOPE welcomed Esperanza as its first network partner in 2005. Since then, both organizations have mutually benefited from shared best practices and technical expertise. “As we look to the future and desire Esperanza to remain strong to impact families and share the hope of Christ, I have full confidence in HOPE’s leadership and mission alignment,” said Dave Valle, Esperanza’s founder. “Under their leadership, more families will be transformed, and that is our priority.”
As part of the transition process, HOPE will both manage Esperanza’s U.S.-based fundraising operations and oversee the governance of the financial services nonprofit (Asociación Esperanza Internacional) in the D.R. through a majority representation on their board of directors.
Esperanza’s president and CEO, Alex Nuñez, shared, "Same mission. Same heart. Same spirit. Same name in two languages. We've worked together in mutual partnership for over 17 years, and we are excited that this union is about a Kingdom agenda. It is about serving together to impact more families here in the Dominican Republic. We are grateful to HOPE for stewarding the legacy that our founders, Dave and Victoria Valle, began over 27 years ago."
With 40% of the population in the D.R. living below the poverty line, access to financial services and capital is limited, preventing many from investing in growing businesses. Still recovering from the setbacks of the pandemic and ongoing inflation, Dominican entrepreneurs continue to need financial support as they adjust their businesses to new economic realities.
HOPE’s president and CEO, Peter Greer, shared, “For 17 years, Esperanza has been a key partner and we have the highest respect and admiration for their leadership team and mission. We pray that God will use this deeper level of partnership to bless thousands of additional families in the Dominican Republic and beyond.” ###
About Esperanza International (Dominican Republic)
Esperanza International was founded in 1995 in the Dominican Republic (D.R.) by Dave Valle, a major league baseball player who was moved by the needs of the children he met during his visits to the D.R. to play winter baseball. He and his wife, Victoria, founded Esperanza to bring a sustainable solution to poverty alleviation, equipping entrepreneurs to use their gifts and skills to provide for their families. In 2022, with nine branch offices around the country, the organization served more than 7,000 people about 76% of whom are women with financial services like loans, savings services, insurance programs, and other complimentary trainings and services.
About HOPE International
HOPE International is a network of microfinance institutions and savings group programs operating in 18 countries around the world. Its mission is to invest in the dreams of families in the world’s underserved communities as they proclaim and live the Gospel. HOPE works to empower men and women to break the cycles of material and spiritual poverty through discipleship, biblically based training, savings services, and loans. In 2022, microfinance institutions in the HOPE network had a loan portfolio of more than $63.7 million. In addition to microfinance programs, HOPE partners with thousands of local church denominations and Christ-centered partners worldwide to form savings groups. Learn more at hopeinternational.org