Annual Report 2020;
Credit: ADA
ADA, a Luxembourg-based organisation with expertise in the inclusive finance sector, has presented its activity report for the year 2020.
2020 was a year of change for ADA and globally. It was marked by the passing of the Chairwoman of ADA's Board of Directors, Corinne Feypel-Molitor, on 9 August, as well as the COVID-19 pandemic. The latter showcased the flexibility and reactivity of the non-profit's teams, which rose to the challenge as early as April by creating and rolling out a crisis management programme.
This support programme drew upon the observations and analyses of ADA project managers in Luxembourg and technical advisers in the field, as well as discussions with its partners. Their work enabled a swift response to soften the blow of the emergency situation on vulnerable populations.
2020 was also the third year of ADA's Operational Development Plan (2018-2021), the achievements of which are fully in line with the non-profit's vision for making a real impact as well as the United Nations (UN) Sustainable Development Goals (SDGs).
In 2020, ADA operated in 42 countries in eight areas: COVID-19 response programme; strengthening the sector; digital finance; support for young entrepreneurs; agricultural finance; inclusive insurance; green microfinance; investment.
ADA provided training to 370 microfinance institutions (MFIs), including 65 on a topic related to COVID-19. The non-profit also supported fourteen networks and professional associations on three continents, representing a total of 684 MFIs, and provided technical assistance to 126 MFIs (including 56 in relation to dealing with COVID-19), six incubators and four fintech companies.
A total of 80 organisations benefited from the COVID-19 crisis response programme, including 72 MFIs, five incubators and three networks.
In addition, 137,177 customers benefited from a new financial product or service as a result of ADA's involvement. This included insurance products (65,245 customers), digital services (45,005), savings products (13,915) and loans (13,012). An additional 3,297 people benefited from non-financial services, including financial education (1,706), agricultural technical training courses (1,094) and entrepreneurship training courses (328).
Looking back at the year 2020, Laura Foschi, Executive Director of ADA, along with Vice Presidents of the Board of Directors, Nicole Dochen, Phillippe Onimus and Patrick Losch, concluded: "Only together, by pooling our diversity and our strengths, will we be able to blaze a trail towards greater financial inclusion".
The full annual report 2020 is available, in English, at: https://www.ada-microfinance.org/en/our-resources/media-center/ada-activity-report-2020.
