ADA (microfinance)
ADA (Appui au Développement Autonome) is a Luxembourgish nonprofit organisation created in 1994 that supports the microfinance sector.
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| Formation | May 11, 1994 |
|---|---|
| Founder | Mia Adams-Bormans |
| Purpose | NGO |
| Headquarters | Luxembourg |
Region | Latin America, Western Africa, Southeast Asia |
President | Corinne Molitor |
| Website | www |
Introduction[edit]
Specialised in inclusive finance, ADA develops and initialises new financial products [1][2], supports research in the field, assists in the process of professionalisation of microfinance institutions (MFIs) through training or structural support, and advises MFIs in their search for financing [3]. Close to six-hundred microfinance institutions in twenty-three countries throughout Latin America, Western Africa[4] and Southeast Asia works either directly or indirectly with ADA through its initiatives. All of ADA's initiatives place importance in transparency and coherence in the microfinance sector, in order to strengthen the fight against poverty. As such, ADA is particularly involved in developing social performance indicators.
ADA benefits from the Patronage of H.R.H Grand Duchess Maria Teresa of Luxembourg.[5]
History[edit]
ADA was created in Luxembourg on the 11th of May 1994, by several people from the financial sector. Among these was Mia Adams-Bormans and her husband Roger Adams. Convinced by the positive impact microfinance could have, they decided to support the sector in order to help poor people in developing countries lead a more prosperous life. From its inception, the founders of ADA have built projects focussing specificly on supporting microfinance institutions.[6]
In 2014, the organisation celebrated 20 years of existence[7], and also launched its biannual review, Passerelles.[8] In the same year, ADA launched a new initiative in cooperation with the University of Luxembourg, called the ADA Chair in Financial Law.[9][10]
In 2016, ADA participated in the creation of the first microfinance institution in Luxembourg, Microlux.[11][12]
In 2017, ADA had a budget of 6 million Euro's to carry out its projects. The projects that ADA runs benefit millions of people worldwide.[13]
Projects[edit]
ADA's projects include digital finance, agricultural finance and trainings in these sectors, whilst also providing advisory services to MFIs and SMEs.[14]
Central & Latin America
In Peru, ADA is involved in microfinancing projects for SMEs in the agricultural sector. ADA is also active in promoting transparency and the development and implementation of social performance indicators, through the committee Fondo para las Finanzas Responsables e Inclusivas en Centroamérica y el Caribe (FFRI-CAC). ADA is also active in promoting financial inclusion through technical and financial inclusion in Central America, through a partnership with the REDCAMIF Network.[15] ADA is also active in developing microinsurance products and services in Central America.
Africa
The majority of ADA's work is carried out in Africa.[16] This involves fintech, advisory services, new microfinance products development and implementation, and sustainable investments. One of the main initiatives ADA has taken is a young entrepreneur initiative, which develops financial and non-financial services to help or growing young entreprenuers and SMEs.[17]
The African Microfinance Week is a conference dedicated to the development of financial inclusion in Africa which takes place every two years. The first edition of the SAM took place from the 2nd to the 6th of December 2013, in Arusha, Tanzania. The most recent edition took place in Addis Ababba, Ethiopia, from the 9th to the 13th of October 2017, at which the subject of conversation was "Supporting SMEs: A New Era for Inclusive Finance".[18] The next edition of the SAM is due to take place in 2019, with the location yet to be revealed.
Midis de la Microfinance[edit]
The Midis de la Microfinance are conferences organised by ADA on a quarterly basis throughout the year. The conferences focus on issues and developments within the inclusive finance sector, and are held in Luxembourg.[19] The most recent conference was held on the 7th of June in Luxembourg and focussed on microinsurance.[20]
References[edit]
- ↑ "L'Uni et Ada lancent un nouveau cursus dédié à la finance inclusive".
- ↑ "About ADA".
- ↑ "Cercle de Coopération des ONG du Luxembourg: ADA".
- ↑ "ADA promotes micro-insurance in Burkina".
- ↑ "ADA Patronage".
- ↑ "Développement autonome et finance inclusive".
- ↑ "ADA celebrates 20 years".
- ↑ "Passerelles".
- ↑ "ADA Chair in Financial Law (Inclusive Finance)".
- ↑ "Why we need inclusive finance".
- ↑ "Microlux starts in Luxembourg".
- ↑ "Microlux gives helping hand to small businesses and social entrepreneurs".
- ↑ "ADA Activity Report".
- ↑ "Training in risk management".
- ↑ "L'habitat fait partie intégrante de notre business model".
- ↑ "ADA Activity Report 2017".
- ↑ "SDG lab: Young Entrepreneurs to Advance Local Economies and Community Health in Africa".
- ↑ "Special Report: ADA's Laura Foschi on Creating Value for SMEs at SAM in Ethiopia, October 2017".
- ↑ "43rd Midi de la Microfinance et de l'inclusion financière".
- ↑ "Microinsurance: A safety net for the poor".
See also[edit]
Related articles[edit]
- African Microfinance Week (SAM)
External links[edit]
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