Hello from SITAWI. Thanks a lot for your support! May your generosity inspire others in 2014.
SITAWI’s Financial Solutions: an exemplary approach to global change -SITAWI was invited to take part at the Clinton Global Initiative Latin America (CGI) meeting, which took place in Rio de Janeiro from December 8-10th. At the high-profile event, Leonardo Letelier presented Finance for Good’s work in transforming the social sector in Brazil. In 2010, SITAWI signed its first commitment with CGI to invest $1.5 million in the Brazilian social sector, which was completed in 2013. This renewed commitment will invest an additional $3.5 million by 2016, impacting 100,000 people.
“Let’s make SITAWI an even more effective instrument to transform even more lives” - With this phrase, SITAWI’s CEO Leonardo Letelier summed up the future for the nonprofit that pioneered financial solutions for social impact in Brazil. As well as an ambition, it is also an invitation to commitment and was presented at the end-of-year dinner for board members and both current and future supporters. The meeting was attended by Armínio Fraga, former president of the Central Bank of Brazil and Finance for Good enthusiast, who believes that “with high standards of excellence and efficiency, civil society will be able to achieve greater results”. The impact generated by SITAWI was shown by Roberto Kikawa who presented the results of Project CIES: more than 100,000 high-quality medical checkups for vulnerable Brazilians.
SITAWI highlighted in RI magazine - Finance for Good was featured in the October edition of the brazilian magazine Relação com Investidores (Investor Relations). The article, published in the section Sustainable Finance, covered SITAWI’s activities and services, looking at the concept of the social loan, high social impact projects, innovation, responsible investing, new business models, and social, environmental and governance issues.
Fairer trade in Amazonia - The Yanomami tribe in the Brazilian Amazon had an order to 3000 handicrafts for a large retail chain. With a social loan for R$60,000, SITAWI allowed the tribe to complete the order, by providing the necessary capital to a partnership between Solidarium and the program Pró-Arte, of Associação Pró-Amazônia, which promotes the appreciation of the Yanomami culture within the community, and fair trade for their handicrafts. A client of SITAWI since 2009, Solidarium brings together artisans from all over Brazil and allows groups of artisans to improve their organizational skills and increase their incomes.
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