Since its inception in 2005, Yayasan Mitra Dhuafa (YAMIDA), a microfinance institution (MFI) in Indonesia, has disbursed loans worth USD 2.2 million to more than 16,000 women in Banda Aceh, a region greatly affected by the tsunami that hit Indonesia in 2004 [1,2]. The MFI began with seed funding from the Grameen Foundation, a non-profit organization involved in microfinance [1,3]. The American Red Cross, a humanitarian organization, the Abdul Latif Jameel Group, a limited liability company based in Saudi Arabia, Nokia, a telecommunications company based in Finland, and the Deutsche Bank Americas Foundation, the philanthropic arm of the German financial services provider, all provided funding to the Grameen Foundation to help start YAMIDA [1]. The loans provided to the Banda Aceh women have been used to start new businesses as a way to recover from the tsunami [1]. YAMIDA began with one branch in Banda Aceh in September of 2005, and now has nine branches in the region [1].
By Christopher Maggio, Research Assistant
About:
Yayasan Mitra Dhuafa (YAMIDA)
Description: Yayasan Mitra Dhuafa (YAMIDA) is a microfinance institution (MFI) that was founded in 2005 with the intention of providing business loans to women affected by the tsunami that hit Indonesia in 2004. The seed funding for YAMIDA was provided by the American Red Cross, Abdul Latif Jameel Group, Nokia, and the Deutsche Bank Americas Foundation through the Grameen Foundation, a non-profit organization involved in microfinance. The Grameen Foundation also provides technical assistance and management information system (MIS) assistance.
Organization’s Website
http://www.mitradhuafafoundation.org/
Just the Facts:
– Country of Incorporation: Indonesia
– Year Founded: 2004
– Area of Operation: Indonesia
– Participant(s)/Backer(s)/Investor(s): Grameen Foundation, American Red Cross, Abdul Latif Jameel Group, Nokia, Deutsche Bank Americas Foundation
– Chief Executive Officer: Slamet Riyadi
Contact Information:
Slamet Riyadi
CEO
sriyadi64@yahoo.com
+62 021 780 1574
Additional Resources:
MICROCAPITAL STORY: YAMIDA Opens First Microfinance Branches in Aceh Jaya, Indonesia in Partnership with the American Red Cross and the Grameen Foundation as Part of Ongoing Tsunami Relief Efforts: https://www.microcapital.org/microcapital-story-yamida-opens-first-microfinance-branches-in-aceh-jaya-indonesia-in-partnership-with-the-american-red-cross-and-the-grameen-foundation-as-part-of-ongoing-tsunami-relief-efforts/
Bibliography:
[1] Grameen Foundation press release entitled ‘Grameen Foundation Helping Indonesians to Recover Five Years After Devastating Tsunami’: http://multivu.prnewswire.com/mnr/grameenfoundation/41762/
[2] YAMIDA: http://www.mitradhuafafoundation.org/index.php?option=com_content&task=view&id=2&Itemid=3
[3] Grameen Foundation: http://www.grameenfoundation.org/
Source Press Release:
Grameen Foundation Helping Indonesians to Recover Five Years After Devastating Tsunami
Washington, D.C., December 21, 2009 /PRNewswire-USNewswire/ — Five years after a devastating tsunami swept through Indonesia, more than 16,000 women in Banda Aceh, the region closest to the tsunami’s epicenter, have built new lives for their families with support from Grameen Foundation. Working in collaboration with Mitra Dhuafa, a local microfinance institution, the foundation has provided more than $2.2 million in funding to help Achenese women and their families recover from the tragedy by building new, sustainable businesses.
Recognizing that long-term recovery required more than immediate aid funding, Grameen Foundation forged an alliance with the Abdul Latif Jameel Group, a leading international company based in Saudi Arabia, and began working with local organizations within several months of the tsunami to assess their needs.
“The scale of the devastation and suffering was overwhelming, but we knew that microfinance had a crucial role in play in the long-term economic recovery of the families and communities,” said Alex Counts, president of Grameen Foundation. “Our goal was to help give the people of Banda Aceh access to the financial resources they would need to reignite their local economy.”
Before the tsunami, there was little microfinance activity in Banda Aceh, which remains one of Indonesia’s poorest regions. Using seed funding from Grameen Foundation, Mitra Dhuafa opened its first branch in Aceh province in September 2005 and has now provided loans to more than 16,000 women through its nine branches. In addition, the foundation has been providing technical assistance to help Mitra Dhuafa strengthen its local staff and overall operations so that it can grow and reach even more women in far-flung areas.
“Banda Aceh has made great strides since the tsunami, especially in more central areas which were the easiest to reach in the aftermath. However, there are pockets in more remote areas which still need attention and we are committed to ensuring that its poorest and most vulnerable residents have the resources they need to better safeguard their families’ futures,” said Counts.
Grameen Foundation’s work in has been supported largely through grants from the American Red Cross. It launched its tsunami recovery assessment and initiative with major funding from the Abdul Latif Jameel Group and received additional support from Nokia and the Deutsche Bank Americas Foundation.
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