News from SIDI’s partners in the context of the health crisis

In this very special autumn, the latest issue of the SIDI Notebook takes stock of the situation of two partner organizations coping with the effects of the Covid-19 crisis.

In Central America, the restrictions imposed by the epidemic have had a major impact on the microfinance sector. The refinancing institution SICSA, which provides financial support to 37 MFIs in 6 Central American countries, found itself facing a liquidity risk. Faced with this situation, SIDI has relaxed its loan rescheduling arrangements to enable SICSA to continue to carry out its financial inclusion mission in the region.

You can also read an interview with the General Manager of the CAURIE Microfinance MFI in Senegal, who explains the measures taken from the very start of the Covid-19 epidemic, both for employees and customers.

In this issue, you’ll also discover the support projects carried out thanks to the ACTES Foundation, under the aegis of the Terre Solidaire Foundation, to help our partner organizations in the greatest difficulty to adapt their activities to new sanitary requirements.

Enjoy your reading!

 

Carnets SIDI n°12-sept 2020(HD)_Page_1

Click on the image to consult the Carnet

SIDI commits to protecting MFIs in the face of the Covid-19 crisis

[chapeau]Since the beginning of the crisis linked to the Covid-19 pandemic, SIDI has maintained an ongoing dialogue with international microfinance players. As part of this commitment, we have recently committed to a set of key principles developed collectively to help MFIs and their customers cope with the effects of the crisis.[/chapeau]

SIDI is a member of a think tank, made up of microfinance players, which met in April 2020, at the initiative of the Grameen Crédit Agricole Foundation, to discuss the situation and define a joint commitment to guide the response to the health and economic crisis. This could spell trouble for many MFIs and their customers, leaving vulnerable populations in desperate straits. The challenge was therefore to jointly find solutions to limit the effects of the crisis as much as possible, while continuing to strengthen financial inclusion for vulnerable populations. A list of key principles to be respected between investors has been drawn up to protect both MFIs and their customers, and guarantee continued access to financing under the best possible conditions.

By signing this agreement, SIDI undertakes to respect this non-exhaustive list of principles(full document here):

  • Information transparency and sharing
  • Adapting and aligning intervention principles to overcome the effects of the crisis
  • The implementation of shared and equitable solutions between lenders
  • Coordinated provision of technical assistance and resources to help MFIs deal effectively with the crisis

In the current context, it is essential to forge operational alliances between microfinance players in order to best support those MFIs that will be hardest hit by the crisis. SIDI is thus preparing to adapt and soften the profile of its relationships with its partner organizations, according to its capacities and in a coordinated manner.

Discover the press release

 

To consult the complete list of key principles for dealing with the Covid-19 crisis, click here.

 

SIDI information – Covid-19 pandemic situation

[chapeau]The covid-19 pandemic led to the implementation of total containment in France on Tuesday March 17, 2020. SIDI has closed its premises at 12, rue Guy de la Brosse in Paris, and the entire team is now working from home.[/chapeau]

Since the implementation of containment, mail cannot be collected on a daily basis, and some of SIDI’s activities, notably the processing of share movement requests (subscriptions, withdrawals and donations), are slowed down for technical reasons until the end of the containment period.

The SIDI team continues to work remotely and can be reached by e-mail. If you have any questions, you can contact SIDI via the contact form and the address

info@sidi.fr

SIDI would like to assure you that the shareholder trip planned for Ecuador will indeed take place, but cannot yet comment on the dates until clearer information on the evolution of the pandemic and travel possibilities is known. Consequently, the dates and deadlines communicated in the letter of invitation to the trip sent in February 2020 have been revised. The processing of pre-registrations for the trip and the final response to these requests are suspended until further notice.

Despite the suspension of its field missions, SIDI continues to provide remote support to its partners, who are also confronted with the health situation we are experiencing in France. Our partners will keep you informed of the effects of the pandemic in subsequent messages.

SIDI sends a message of support and courage at this difficult time, and hopes that everyone was able to organize these weeks of confinement in the best possible conditions.

Take care of yourself and your loved ones,

Dominique LESAFFRE,

Managing Director of SIDI