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What is SIDI?
Creation
SIDI, the International Solidarity for Development and Investment
company, was established in 1983 by CCFD-Terre
Solidaire (French Committee against
Hunger and for Development), a French NGO, to strengthen and diversify
its actions in the economic field.
Objectives
SIDI
is a company specialised in the financial and technical support of
microfinance institutions. It promotes viable economic activities and
fosters the establishment of a social and economic environment capable
of promoting sustainable development.
Partners
In
terms of their legal structure and the methodology used, SIDI works
with a diverse range of partners: local associations, financial NGOs,
companies, savings and credit unions, socially-oriented banks.
They all offer credits to micro-entrepreneurs in developing countries
who need it to support their business to reach a successful conclusion.
Despite they have profitable business projects; they are excluded from
the formal financial sector, due to a lack of tangible guarantees and
resources.
SIDI brings a specific support to the network MAIN which federates 50
micro-finance institutions in 20 countries of Africa. Its main activity
is institutional building and staff training.
Resources
SIDI's
financial resources include:
• Its own capital (13 million Euros) held
by CCFD (the founding shareholder) and institutional and private
shareholders
• Income
of the mutual fund "Faim & Développement" shared with the owners of
the fund. This Fund is promoted by the CCFD and managed by Credit
Coopératif.
• Funds negotiated with development
organisations
• Revenue generated by its portfolio
Annual Reports : click here
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How
does it works?
Fields
of intervention
Financial support
Consolidation
of the financial resources of partners
• Equity investment
• Loans
• Guarantees and
grants negotiated with international institutions
Technical Assistance
• Reinforcement of
operational capacities of partners
• Governance and
institutional support (participation in the governing and
decision-making bodies)
• Support and
counselling in the internal organisation (business plan, staff training)
• Support to
operational activities (design of sustainable financial services)
Creation
of adapted tools to complete SIDI's financial and technical assistance
• Social viability
(social effects, perenity)
• Networking
• Health, home, fair
trade
Results
Since
its creation in 1983, SIDI has developed partnerships with 47
financial institutions specialised in support to micro and small
enterprises in more than 30 countries in Africa, Asia, Latin America
and the Middle East. Its portfolio amounts more than 6.5 million Euros
as of end of 2006.
Thanks to the lending activity of its local partners, SIDI's network
disbursed, in 2008, more than 1,5 million loans (ranging from 50 to
5,000
Euro) to micro and small enterprises in developing countries.
SIDI contributed to the creation, in 1995, of PROFUND: an equity fund
specialised in micro finance for Latin America. Since then, more than
1.500.000 loans have been granted, through 12 local institutions.
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How to participate?
Two ways are available :
1.
Solidarity savings
Saving with
the mutual Fund "Faim et Développement" (Hunger and development)
In 1983, the CCFD launched the first financial investment product
directed toward solidarity, the mutual fund "Faim et
Développement", on the French financial market. Thanks to the
shared income of this fund, the CCFD can support the operational costs
of SIDI. As at 30th June 2007, this fund reached 60 million Euros
with 5.000 subscribers.
2.
Solidarity investing
Buy shares of
SIDI's capital
SIDI's capital (13 millions Euros) is owned by
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CCFD, founding shareholder, together with
two women religious Congregations +50% |
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The members of the association "Epargne
Solidarité Développement" (Savings, Solidarity and
Development), 1160 shareholders 29.1 % |
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French financial institutions 12.13 % |
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European partners of the social economy 4.4% |
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Others 4.4% |
Everyone can acquire shares of the SIDI's capital at a unique price of
152 Euros, depending on availability.
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The
Finansol label
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| The Finansol association unites most of French
actors
active in the field of solidarity financing and awards a label of
quality which guarantees the transparent and efficient use of funds.
This label was awarded to the "Faim et Developpement" mutual fund and
the equity shares of SIDI. www.finansol.org |
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Crédit
Coopératif
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| Crédit Coopératif, a French co-operative
bank, is a pioneering and a leading company in the field of community
finance. Crédit Coopératif is a partner for many
organisations which take care of social issues (health, ecology, help
for disabled persons, integration, childhood..) and international
assistance. With the CCFD, it has created the first sharing Fund "Faim
et Développement". www.banque-solidarites.coop |
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© SIDI - 2009
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