[SSE Organisation Review] - SIDI: International solidarity for development and investment
SIDI, International Solidarity for Development and Investment, is a social business recognised as such by the French authorities. Created in 1983 by the French NGO CCFD-Terre Solidaire, SIDI strives to contribute to the building of a more inclusive economy, which would give poor populations from Southern and Western countries a chance.
Serving the financial inclusion
SIDI promotes the financial inclusion of vulnerable populations, thus turning finance into an adapted tool, by strengthening a network of local actors of economic development, such as:
- Microfinance Institutions (MFIs) which tailor their services for populations excluded from traditional banking, especially in rural areas,
- Producers’ Organisations (POs) working to secure and increase the small-scale farmers’ revenues
- Promoters of community-based financing.SIDI contributes to the strengthening of its partners, an thus to the durability of their clients, by providing them with technical assistance and financial support.
A Solidarity finance chain
A pioneer in the field of solidarity finance in France, SIDI has been mobilizing, for more than thirty years, institutions and individuals alike, who prioritize a human, social, environmental return instead of a financial one. SIDI's technical assistance is funded thanks to the shared income of the mutual fund “Faim & Développement”; whereas SIDI's investments are funded by its shareholders. This “Solidarity Finance Chain” is what lets SIDI innovate, take risks and work on a long-term basis towards the sustainability of its partners.
SIDI’s shares and the mutual fund “Faim & Développement” have both been approved by the Finansol label, which guarantees the solidarity and transparency of savings products, since 1997.
*Description from SIDI homepage
To find more about SIDI and the solidarity chain for financing social economy by Dominique Lesaffre (CEO of SIDI) presented at the ILO 8th SSE Academy in Seoul (June 2017)