In honour of Micro-Lending Week (26-29 August), the Bank of Polynesia, a subsidiary of the Societe Generale Group, has made an official donation of 75 million CFP francs to the Adie Polynésie Association. The bank's annual financial contribution will help open a line of credit to give loans to the Adie's borrowers.
The Association pour le Droit à l’Initiative Économique (Association for the Right to Economic Initiative - Adie) has been operating in French Polynesia since 2009. It trains, supports and finances project originators who are marginalized from the banking system and draws on its experience to improve the institutional climate for micro-loans and micro-businesses.
"Our contribution increases every year. We began in 2010 with 25 million and then year after year the loan increased to reach its current amount," explains Olivier Rauch, Director of the Bank of Polynesia, in the newspaper Tahiti Info. The four-year partnership with Societe Generale has enabled Adie to support over 400 ventures.
In 2014 the Societe Generale Foundation for Solidarity renewed its support for Adie to set up a monthly service in the Rangiroa, Makemo and Fakarava atolls and Gambier and Rikitea islands to support business creation and fund project originators through micro-loans and honour loans. The project is designed to counteract the exodus of young people to Tahiti and develop the local economy.
To know more about this organization : ADIE Polynésie