AnnuAl RepoRt

Philippines16 427

Vietnam

1 988

Cambodia 18 755

India 4 995

Burkina Faso3 800 Myanmar

Benin 17 993Ghana

5 959

Haiti5 315

*MFI : Micro Finance Institution

Mongoliasocial entrepreneurship

technical support

24 full-time permanent staff

17 partners, including 14 MFIs*

a €3 million budget

employing 605 workers€6.7 million credits incurred

75,000 micro-entrepreneurs financed:

located in 10 countries

SabineRouxdeBézieuxPresident

edItorIal2010;ayearmarkedbytheearthquakeofJanuary12inHaiti,wherewehavebeenworking formanyyears.Thousandsofpeopledead,300,000hurt,amillionmadehomeless,atollthatechoesthatofthe2004tsunamiinAsia,butthistimeconcentratedaroundasinglecity,Port-au-Prince.Andyet...Despitethenoisefromthemediasuggestingthatthequakestruckacursedland,weprefertotalkaboutwhatwehaveseen:theHaitianpeopleontheirfeettoresumetheiractivitiesonlyafewdaysafterthequake,kidsgoingbacktoschoolsinceApril,andparticipatingineachforward-lookinginitiative.Thiscapacitytobouncebackallowedustorelaunchourmicrocreditprogrammewithina fewweeks. Inresponsetotheurgency intheslums,wemultipliedouractivities,focusingonjobcreationtorevivetheeconomybysupportingmicro-businessesandVerySmallBusinesses(VSB,p.12to14).InthefuturewewillintensifyouractionsinthisfieldwithpartnerssuchastheFondationdeFrance.

Inthemeantime,activitiesgenerallydevelopedasanticipatedintheothercountries(p.18to21).Ourdonorsmaintainedtheirsupport,despitethestrongextrademandsarisingfromHaiti.Inasensitivecon-textformicrocredit,westayedloyaltoasocialmicrofinancetargetingthemostimpoverishedfamilies(p.5to9).Thisapproachcontinuestobearfruit:already3,soon4ofourpartnerswillhaveachievedfinancialsustainability,offeringevermorecompleteandadaptedservicestothetargetpopulations.(p.15-16).Anotherremarkableeventof2010wasthedevelopmentofsocialentrepreneurshipinBurkinaFaso,whichweplantopromptlyreproduceinothercountries.

ThestructureofEntrepreneursduMondehasbeendirectlymodifiedbyourdevelopmentsinHaiti.Ourworkforcegrewby80%andourglobalbudgetdoubled.Wehaveneverthelessmaintainedourfinancialequilibriumandstrengthenedourcapitalstock,aspertherecommen-dationsoftheCommitteeonFundraisingOrganizations(p.24to26).SASMicrofinanceSolidaire,createdin2010onourinitiative,enabledustomobiliseacapitalof€400,000(p.19)inordertobetterrespondtotheneedforcapitaltofinancethecreditstoourpartners.Thisyear,wehavenothadtorefusecreditsduetolackofcapital:arealrelief!

Aswitheveryyear,wehaverun intodifficulties.Howcould itbeotherwise,giventhefactthatthereare17supportedpartnersin10developingcountries?Butsatisfactionwithprogressbroadlyprevails,andyourloyaltycontinuestoencourageustokeeppressingforward.

Thankyou!

SuPPortS27

PartnerS18

SoCIal MICroFInanCe

5VerypoorbutenterprisingfamiliesThankstoadecidedlysocialmicrofinanceAndtheemergenceofsocialentrepreneurshipOursupporttolocalpartnersCompletesupportTestedandsharedmethodologiesSocialperformancemeasurement

aIMInG For SuStaInaBIlIty

15EmpowermentprogrammesCapitalization&exchangesPerSPeCtIVeS 17Insocialmicrofinance

InsocialentrepreneurshipInintegrationthroughemployment&productiveentrepreneurshipsupport

FInanCIal rePort

24ResourcesraisedExpenditureandResourcesSummaryBalancesheetatendDecember2010AnnualIncomeStatement

SoCIal entrePreneurSHIP & SeCtorS

10EfficientstovesSuitablehabitatPhotovoltaicelectricityChlorinatedwaterMare’smilkSpirulinaHaItI

12Respondingtotheemergency

Supportinginitiativesforeconomicrevitalization

GoVernanCe22TeamsBoardofDirectorsSASMicrofinanceSolidaireCharterCommitteeofDonationTrust

SoCIal MICroFInanCe❙ Very impoverished yet

entrepreneurial familiesEntrepreneursduMondehelpsfamilieslivinginveryprecariousconditionstocreateorconsolidateincome-generat-ingactivities.Weactthrough localpartners inthepoorest areas of big cities such asPort-au-Prince,Cotonou,Accra,Cal-cutta,PhnomPenh,orManila,orinveryremotezonessuchastheDienBienprovince inVietnamortheMouhounprovinceinBurkinaFaso.Duetotheirsituationofextremepov-ertyandtherisksentailed, the fami-liessupporteddonothaveaccesstobanks,norcantheyaccessothermi-crofinanceprogrammes.EntrepreneursduMondehasthemeanstorespondtotheirneeds.

❙ Via resolutely social microfinance

Inacontextwheremicrofinanceisof-tencriticisedforitsexcessivelyfinancialapproach,EntrepreneursduMondewil-fullydeploysaresolutelysocialformofmicrofinance.Thesocialimpactofouractionsonfamiliesisfundamental.Thispriorityisachievedwithoutsacrificingthe sustainability (including financialsustainability),oflocalpartners.Wenotethatcapitalby itselfcannotpermanentlyliftfamiliesoutofpoverty.Beyondcapital,themostimpoverishedfamilies need personalised support:savingsaccounts,management,profes-sionalandtechnicaltraining,awarenessofhealthorsocial issues,and ideally

permanentandattentivesocialserv-icesprovidingadvice,micro-insurance,accesstoemploymentfortheyoung...

❙ Via the emergence of social entrepreneurship

EntrepreneursduMondealsohasac-cess to savings services topromoteproductsofhigheconomic,environ-mentalandsanitaryaddedvalue,suchasstovesthatusewood,coal,orgas.Thisnewapproach,developedinBurki-naFaso3yearsago,isintheprocessofbeingreproducedfirstlyinHaitiandtheninothercountries.Itdrivesustocreateandsupportconnections,whilemeetingboththeneedsoftheusersandthoseofthecraftsmenthatmakethestoves(Socialentrepreneurshipandnetworks,p.10and11).

For WHoM?

HoW?

6 ■ AnnuAlREPORT2010 ■EntrepreneursduMonde

SoCIal MICroFInanCe

Maritesbuysinbulkandrepacksinsmallindividualsachetssweets,garlic,onions,pepper,squid,andsmalldriedfish.Aninitialloanof€33,followedby17otherloans,stillrelatedtoherproject,enabledMarites’businesstogrow.unfortunately,thetyphoontookherhouseawaybutICDCdidnotwalkoutonher.Shewasgrantedareschedulingofherloanandaone-offcredittoallowhertoresumeheractivities.Today,thebalanceofheroldcreditishalvedandMariteshasregainedhersmile:“EveniftheprofitsfrommybusinessaresmallIamproudofgivingworkto6retailers!”

MarIteS GonzaGaPhilippines ❙ our support

to local partnersInordertoactcoherentlyandsustain-ably,weidentifypartnerorganisationsthat fullyshareourvisionofmicrofi-nance(ifnolocalpartnerisfound,weopen a direct programme with theeventualaimofcreatinganindepend-entlocalstructure).Then,wesupportthembothtechnicallyandfinanciallywhileawholerangeofcomplementaryservices to thebor-rower issetupandfinancialsustain-abilityisbeingreached.Thisperiodlastsfrom4to6years,duringwhichtimeEntrepreneursduMondecoverstheprogramme’sdeficits.Whilethelegalstatusofpartnerorgani-sationsvariesfromcountrytocountry,ouraimisthatduringtheaccompani-mentperiod,thestatusofourpartnerscomplieswiththecountries’currentregulatorystandards.In 2010, Entrepreneurs du Mondesupported 14 microfinance institu-tions(8  inAsia,5 inWestAfricaand1inHaiti),3ofwhichreceivedpurelytechnicalsupport.Asummariseddescriptionofeachofourpartners isavailableonpages18to21.

Inaddition,wesupported3partnerswhodonotthemselvesrunmicrofi-nanceprogrammes:Space(Philippines),Gumi(Mongolia)andthePosturgencyprogrammeinHaiti.

FollowingonfromuPliFT(Philippines)andnCRC(India),Chamroeun(Cam-bodia)hasjustachievedfinancialstabil-ity,lessthan5yearsafterthestartofactivities.Chamroeunjoinsthefamilyof autonomous organisations whicharenolongerinneedofEntrepreneursduMonde’sfinancialsupport,exceptforspecificdevelopments,namelythestrengtheningofnon-financialservicesatuPliFTandtheextensionofnCRC’sactivitiestowardsruralareas.

Full supportEntrepreneursduMondehelpseachpart-nerorganisationtocreateorimprove:•basicfinancialservices(microcredit,microsavings)inaidofthepoorest:withlittleornoguarantees,ofshortdura-tionandsmallsums:anaverageof€151in2010,•complementarysupport:managementandprofessionaltraining,raisingaware-nessofhealthandothersocialissues,etc.

14 microfinance institutions supported

3 financially autonomous partners

EntrepreneursduMonde ■AnnuAlREPORT2010■ 7

SoCIal MICroFInanCe

Micro-entrepreneurs unite their talentsInordertohelpsomemicro-entrepre-neurstorationalisetheircostsorboosttheir sales, our partner in Calcutta,nCRC,hassetupanetworkofmicro-entrepreneurswhichputsmembersincontactwithproducers, distributorsand traders. Since the restructuringundergone inMay2010,338ofthemhavecontactedothermembersinthisway.Thosetakingthegreatestadvan-tage fromthenetworkarethemostimpoverishedwomen.Inaddition,manybenefitedfromtechnicaltraining(sew-ing,hairdressing,engineering,etc.),andsomeyoungpeoplefoundajob.

An example of successful exchangeFor3months, twowomen receivedtrainingatthehouseofanothermem-ber,inordertolearnhowtoproduceoriginalstyledbags.Thisallowedforadiversificationoftheirincomesources,and they also immediately obtainedregularorders,sincethewomanwhotrainedthemsubcontractedpartofherproductiontothem.

The next step Giventhesuccessofthenetworksineachagency,nCRCisplanningtocom-puteriseandcentralisetheinformationobtained. In thatway, linkswouldbecreatedbetweenmicro-entrepreneursinareasthatspecialise inproduction

andthose inmorecommercialareas.Similarly,whennCRCopensagenciesinruralareas,themembersofthesenewagencieswillbenefit fromtheurbannetworktodistributetheiragriculturalproducts.Thiswillmaketradeeasierandmoreefficientbysavingcostsonmiddlemen.

FOCUS

ThiDoangrowsriceandcoffeeandrearsfishandpigs.Before,

sheneverhadenoughmoneytobuyyoungfishstockstorear.

InOctober2009,Chi-Emgrantedheraloanof1,200,000dongs

(€48)tobuy8 kgofyoungfish.Inayear,shesoldaboutahundred

fishfor€320foraprofitof€250.InDecember2010,shewas

grantedanewcreditof€48which,addedtohersavings,allowedher

tobuy25kgofyoungfishloThiDoanalsobenefitedfromtrainingprogrammesrelatedto

herpigrearingactivities,givenbytheprogramme’sagronomist.

lo tHI doanVietnam

231 148 participants in training programmes

•essentialsocialservices:socialserv-icesandreferral towardsspecialisedorganisations inHaiti, Benin,Ghana,CambodiaandIndia.Theseservicesaremanagedbydedicat-edteamsinordertoavoidanyconfu-sionwiththepeopleinchargeofcreditportfolios.•context-specificactivities: inparticu-lar,acentreforhelpingtheunemployed

tofindajobintheformalsectorwascreatedinPhnomPenhin2010fortheyoungpeoplefromborrowingfamiliesandwhohavebeenaffectedbytheclo-sureoftextilefactories.•Stronglocalgovernancetoprogres-sivelytakeoverfromEntrepreneursduMonde.

8 ■ AnnuAlREPORT2010 ■EntrepreneursduMonde

SoCIal MICroFInanCe

Onipa Nua : more than a methodology, a philosophy...Onipa nua methodology in Ghanaremovestheprincipleofjointliabilityamongthemembersofagroupsoastoalloweachpersontoborrowanappropriateamount,foraconvenientamount of time. ID-Ghana has putinplaceamanualofproceduresandcheck liststoensurethatthemeth-odologyisuniformlyappliedineveryagency.

... supported by training programmes

Eachgroupof15to30peoplemeetsweekly,atasetdateandtime.Thesemeetingsaretheidealoccasionfora30-minutetrainingoneconomicorso-cialtopics,dependingonthepriorityatthetime.In order to ensure that the groupgetsofftoagoodstart,thefirsttop-icsdiscussedaregroupdynamics,theimportanceofsavingsandillnesspre-vention,which includes thepromo-tionofthenationalHealthInsuranceScheme.Inpractice,ID-Ghanaencour-agessubscriptiontothisinsurancebysubsidisinginsurancepremiumsfor3years(50%inthefirstyear,then33%andfinally25%)tohelptherecipientsreducetheirhealthexpenses in thelongrun.

... which is being repeated

Besides this programme of micro-health insurancewhich isuniquetoGhana,theOnipanuaapproachhasalsobeenusedbyotherMFIpartnersinBurkinaFaso, inBenin, inHaiti, inVietnam,inIndiaandinthePhilippines.

❙ tested, validated and shared methodologies

EntrepreneursduMondedoesnotim-posesetworkingmethodsonitspart-ners. Itbuildsonmethodologiesthathave proved successful and encour-agesthelessperformingprogrammestodrawinspirationfromthemandtoadaptthem.Inparticular,EntrepreneursduMondepromotesgroupmethodologywhereborrowers are not jointly liable foreachother’sloans,inspiredbytheASAmethodinBangladesh.Thesegroupsareapowerfulsourceofindividualandcollectiveprogress.Theloansizeandrepaymentschedulesvaryfromborrowertoborrower,dependingontheactualfinancialneedsoftheirac-tivities.Mostimportantly,theborrow-ersmeetonasetdateandtime forawareness-raisingmeetingsandtrainingprogrammesaswellastocollectrepay-mentsandsavings.In2010,ourpartnersinGhana,Benin,Haiti,Vietnam,andIndia,aswellassomeofthoseinthePhilippinesalldrewonthismethod.Consequently,mostofthemsawtheirresultsimprovesignificantly,whiletheirsocialmissionwasalsoreinforced.

Withthissystem,oneloanofficercancloselyandregularlyoversee250to300familieswithoutmajordifficulties,leadingtoimprovedresultsandfinancialsustainability fortheprogrammeasawhole.Thankstothismethodology,thelevelofportfoliosatriskhassubstantiallydroppedinseveralprogrammes.Atthesametime, the loyaltyratemarkedlyimproved,reflectingtheincreasedsat-isfactionoftherecipientfamilies.Otherapproachescontinuetodemon-stratetheireffectiveness.Forinstance,thefrontdeskapproachinCambodiafacilitatesindividualcredit.Anotherex-ampleofcontinuedsuccess isthatofthemutualsolidaritygroupsofBurkinaFaso.

❙ Measuring social performance

Iffinancialperformanceevaluationcanbecarriedoutstraightforwardlyusingobjective indicators, thesamecannotbesaidofsocialperformance.Yet,itisessential:•thatsocialperformancebepreciselydefinedatthebeginningofeverypro-gramme,

FOCUS

EntrepreneursduMonde ■AnnuAlREPORT2010■ 9

SoCIal MICroFInanCe

PATHow?Survey conceived by each partner, based on a dozen indicators concerning the family’s economic and social situation. Surveys systematically distributed to every person who receives their first credit, then again to the same people every year.

What questions does it an-swer?Does the institution actually reach the targeted population group? Does the condition of poverty in the families improve progressively?

What kind of improve-ments does it enable?If necessary, to change the institution’s approach so as to reach and improve the condition of those people most in need.

SPI CERISEHow?Survey conceived by the CERISE consortium. Internal, external or mixed audit done once a year.

What questions does it answer?Does the institution accomplish its social mission in terms of: - target population - adapting the services - strengthening the recipients - social responsibility (in terms of the employees, the recipients and the community)

What kind of improve-ments does it enable?Defining new services, methodolo-gies, and tools, as well as elaborat-ing new strategies to develop bet-ter answers to the above questions.

SATISFACTION SurveySHow?Survey conceived by each partner and carried out once a year for a sample of recipients.

What question does it answer?Are the beneficiary families satisfied with services be-ing offered?

What kind of improvements does it enable?Identify necessary adjust-ments concerning the services offered and enable the organisation to better respond to the recipients’ expectations and needs.

SOCial perFOrmanCe

* CERISE : knowledge exchange network for microfinance practitioners

• that social performance bemeas-uredregularly toverify theprogressachievedbythefamilies,•toidentifytheareasofprogressonwhichtowork.

Inordertofulfilthesediverseobjec-tives, Entrepreneurs du Monde hasbeenequippedwithseveraltoolsandsupportseachofitspartnersintheirimplementationof thePAT(PovertyAssessmentTool),satisfactionsurveys,andtheSPI(SocialPerformanceIndica-tors)developedbyCERISE*.Theoutlinebelowexplainshowthesetoolswork,whatquestionstheyan-swer,andtheimprovementstheybring.If the implementationofsurveysandSPIhaveshowngoodprogress,thatofPATislesseasytodefineandstillre-quiressubstantialinvestmentfromus.Inadditiontothesetools,ourpartnersmayhaveundergonesocialrating,oftencarriedoutinconjunctionwithfinancialrating.

la MICroFInanCe SoCIalela MICroFInanCe SoCIale

efficient cook stovesInBurkinaFaso,aSub-Saharancountrydeeplyaffectedbydeforestation, theproject“uneFemme,unFoyer,uneForêt” (AWoman,A Home,A For-est) informsourrecipientsastotheeconomicandecological advantagesofhomeswith improvedstonecookstoves,Roumdéimprovedmetalcookstoves(inpartnershipwiththeFafasoproject)andgascookstoves.The women can then purchase thestovesthankstothecredit,whichtheypaybackafter4to6monthsor forwhichtheysavefor1month.

Theirspendingonfuel issignificantlyreducedandtheeconomicprofitsen-ablethemtomaketheotherdailyex-pendituresmoreaffordable.

adapted habitatIn Burkina Faso Entrepreneurs duMonde, inpartnershipwithlaVoûtenubienneassociation,isparticipatingintheprogramme“ uneFemme,unToit,DesDroits “(OneWoman,OneRoof,

ManyRights).Itisexperimentingwithahousingcreditforanecologicalhousemadeoutofearth,withoutusingeitherwoodormetal.Theroof/terraceofthehouse isusedtodrycereals,whileacoldroomisdesignedtostock fruitandvegetables.InHaiti,wewanttoplayanactiveroleingivingaccesstoadecenthabitattothe familieswhosehouseswerede-stroyedbytheearthquake.Asurveyonthissubjectconsultingtheborrow-ers’familieswaslaunchedattheendof2010.Wehavebeguncontactinglikelypartnerstoproposeearthquakeresist-anthouseswithawoodenstructure,soastopromotetraditionalhabitats.

Photovoltaic electricityAstudywasbegunregardingaccesstothephotovoltaicelectricityinorderto:

Tousemicrofinancetodistributeproductshaving

animpactoneconomic,environmentalandsanitaryconditionsisapriorityforEntrepreneursduMonde.

Wefavourlocallyproduced-oratleastlocallyassembled-

productsthathelptocreatenewjobsandwealthforthe

communitythatproducesthem,aswellasproducts

whoseenvironmentalimpacthasbeencarefullyevaluated,

andwhoseacquisitioncanreducehouseholdexpenditure.Wearestartingtoimplement

theseguidelinesinBurkinaFasoandHaiti,withthe

formeralreadyshowingsignsofsignificantprogress.

SoCIal entrePreneurSHIP and Value CHaInS

1 761 improved cook stoves sold in Burkina Faso

la MICroFInanCe SoCIaleEntrepreneursduMonde ■ AnnuAlREPORT2010■ 11

SoCIal entrePreneurSHIP andValue CHaInS

juStIne

Justinehastoprovideforher5 childrenandusedtosell“dolo“,

analcoholicdrinkmadefromthefermentationofmillet.

InSeptember2008,whenAsIEnAcametolouagatopresentthe

new“SpirulinaMicrocredit”,Justinewasattractedbytheproject.

“Allthewomenhereselldolo.Itwasanopportunityforme

todosomethingdifferent.”WithamicrocreditofFCFA7 500

(€11),shebought20bagsofspirulina.Havingsoldallofthem,sherepaidtheloanandpaidtheexpenses,makingaFCFA2 300

(€3.50)profit.TodayJustinesellsmorethan100bagspermonth,

onwhichshemakesaprofitofFCFA11500(€17.50).She

managestofeedherfamilyandtopaytheschoolingofhertwo

eldestchildren.Theconsumptionofspirulinahasalsoimprovedherfamily’shealth.Justineparticipated

intrainingprogrammesonsalestechniques,nutritionandhealththatgavehertheconfidenceto

takeupmoreresponsibilities-shebecamethesecretaryforher

groupofwomen.

BurkinaFaso

•supplyenergyforsolarlamps,• charge mobile phones and powersmallelectricdevices.

Chlorinated waterApilotprojectwaslaunchedinBurkinaFaso:agroupof10womenwastrainedinusingtheWATA™systemforverylow-costproductionofachlorinatedsolutionthat,dependingtothedegreeofconcentration,renderswaterdrink-ableorbecomesaproductofcleaningordisinfection inhealthcentres.Thisprojectwillbeevaluatedin2011andwillbereplicated inothercountries,notablyHaiti.

Mare’s milkInMongolia,300kmfromulanBator,theGumiprojecthasstarted.Itgathersfamiliesofnomadicstockbreederstoimplementasystemoflocalproductionof fermentedmaremilkandcheese.Thankstolocalcooperation,thepro-ductionsitewas installed in2010, inarehabilitatedbuildingequippedwithuseddairyequipment.ThecooperativeincludesexpertsfromEniliaofSurgères,EctiandAVSF.Fortheproduction,whichwillbeginin2011,Gumiwillrecruitandtrainabouttenpeople.Theworkshopwillthenbeoneofthemainemployersofthedis-trictandwillserveaboutsixtyfamilies,amountingtoover200people.

SpirulinaInBurkinaFaso,everythirdchildismal-nourished. Intheabsenceofreason-ablehealth insurance,thebeneficiaryfamiliesof thepartnersofEntrepre-neursduMondeoftenfallintoviciouscycleswhere the credit, the savingsandsometimeseventhecapitalofthemicrobusinessgoestopayforhealthexpenditures.Any element that can improve thehealthofthefamiliesisthereforewel-come.ThecountryistheprincipalproducerofspirulinainWestAfrica,analgaecon-sistingof60%proteinandacocktailofvitaminsandpreciousmineralsneededtofightagainstnutritionaldeficienciesandtoreinforceimmunedefenses(es-peciallyagainstmalariaortuberculosis).The project“Microfinance, spirulinaandhealth”wasthereforestarted inthesummerof2009inKoudougoutomakespirulinaavailable tothemostvulnerableinruralzones.In2010,itwasextendedtotheSouthWestofBurkinaFaso.Atthesametime,experimentsinproducingfoodsenrichedwithspiruli-naweredone,forinstance,withsesametarts,fruitjuice,sweets,etc.TheteamofEntrepreneursduMondeparticipatedinthecompetitionofsocialbusinessplansorganizedby theGSVC (Glo-balSocialVentureCompetition).Theproject,whichwasselectedamongthe5finalists,allowedustopresenttheseactivitiestosocialinvestorsinBerkeleyintheunitedStates.

SoCIal entrePreneurSHIP and Value CHaInS

2 198 sachets sold46 new salespeople

HaItIresponding to the emergency

ID Microfinance (IDM),createdin1998, isamicrocreditprogrammesupportedbyEntrepreneursduMondesince2003.Aftertheearthquake,theteam,severelyaffectedbythecatastro-phe,wasrapidlymobilisedinordertointerveneinfavouroftheborrowers’families.Thecreditpolicywasmodified:somecreditswerecancelled;otherswererestructured,sometimesaccom-paniedbyarecapitalisation.AllcreditsgrantedbetweenMarch-themomentoftheresumptionof loans-andJuneweregrantedwithazerointerestrate.FromJuly,IDMappliedamonthlyinter-estrateof2%insteadofthe3%appliedpreviously,makingIDMoneofthemi-crofinanceinstitutionswiththelowestinterestratesinHaiti.Psychologicalassistancewasgiventothe employees, who had also beenharshly affected by the earthquake.Theyparticipated ingroupactivities,andsomewerealsotakencareofin-dividually.

TheactionsofCash forWorkwereintendedtobringrevenuestothein-habitantsof the affectedneighbour-hoodsbyofferingeachofthemajobfor2weeks.Forover6months,Entre-preneursduMondeorganisedculturalandsportingeventsandtheclearingofdebrisinadditiontoactivitiesforhealthprotectionandanagriculturalproject.TheseactionsunfoldedinCitéSoleil,agiganticandverypoorslum(about250,000people) inPort-au-Prince,aswellasinCarrefourFeuilles.

OnJanuary12th,2010,at16h53,theearthshook

inPort-au-Prince.In35seconds,thecitywasdestroyed:tensof

thousandsofpeopledied,300,000were

injuredandamillionweremadehomeless.

Theconsiderableshockfeltthroughouttheworld

resultedinafloodofassistance.InthemiddleofOctober2010,anew

catastropheoccurredinHaiti:cholera.

Intwoandahalfmonths,181,000choleracases

weredeclaredand3,759peopledied.

Oncemore,assistancewasorganizedtohelp

thoseaffected.

Cultural activities, sports and trainings in Carrefour FeuillesTheculturalandsportseventswhichbegan in the frameworkofCash forWorkcontinuedat thebeginningof2011 inCarrefourFeuillesthankstothesupportofunICEF.Theywereac-companiedbytrainingprogrammesincabinet-makingandelectricity.Thispro-grammeprovidedyoungpeoplewithnewskills that theyacquiredduringrelaxedworkshopsandstrengthenedthecommunityinthisneighbourhoodofPort-au-Prince.

EntrepreneursduMonde ■ AnnuAlREPORT2010■ 13

HaItI

CHIMène

Chimèneraises4childrenonherown.ShereceivedaloanfromID

Microfinancebutshewasonlyabletomakeasinglemonthlyrepayment

asherinventorywasstolenbyothertradesmen.Duetoalackof

evidencesheunfortunatelylosttheCourtcase.Intotal,Chimènelost

27,200gourdes,amountingto€544.HerdaughterJudeline,aged2

monthsinJanuary2010,sufferedaseriousheadinjuryduetotheearthquake.Chimènefoughtin

vainfor11monthsinordertogetsurgeryforher.Wilsotlouis,a

socialworkeratIDMicrofinance,contactedinJanuary2011,managed

togetthegirladmittedtothehealthcentreSanto17,thankstoa

freemedicalassistanceprogramme.Doctorsfrom4hospitalsworking

withsophisticatedmaterialsfromanAmericanshipwereinvitedbythecentre.Wilsot

supportedChimèneateachofthesestages.OnMarch11,morethanayearafterthecatastrophe,

Judelinefinallyhadhersurgery.Inoneandahalfmonths,with

Wilsot’ssupport,themotherwasabletoputintopracticewhat

shehadbeentryingtocarryoutforoneyear!WilsotcurrentlysupportsChimèneduringtherenewalofheradministrative

documentsandinthereactivationofherbusiness.

Cholera PreventionEntrepreneursduMondewasabletoreact immediately after the choleraoutbreakinHaitithankstoitshighly-competent human resources team,readytoactinthistypeofsituation.

Ourcoordinatorsexplainedthehy-gieneprinciples(washinghands, fruitand vegetables, serum preparation,etc.) using illustrations validated bytheauthoritiesandadvertisingthead-dressesofcholeratreatmentcentres.Also,unICEFprovidedEntrepreneursduMondewithsoapandrehydratingserumfortheuseoftheparticipantsoftheawareness-raisingprogrammes.

Supporting initiatives for economic revitalisationID MicrofinanceHarshlyaffectedbytheearthquake,IDMicrofinancerecoveredinlessthanayear its levelofactivity,comparedtobeforetheearthquake,bothintermsofquantityandquality.IDMcontinuedtodevelop itscreditpolicy:itacceleratedtheimplementa-tionof groupmethodologywithoutjoint liability, replacinggroupswhichhadturnedouttobenegativeintermsofcommunityties.newbranchesarebeingestablishedinordertosupportthepoorestneighbourhoods.Onemajorchangehasbeentheconsid-erablereinforcementofthesocialteaminpermanentposts,byincreasingtheirnumberfrom4to14people(7socialworkersand7assistants).Theactivitiesofthisteamareanes-sentialadditiontothecreditagents’workastheyprovidesupportintermsofhealth,educationandhousingtothemicroentrepreneursandtheirfamiliesinordertopreventorat leastmini-misefailureswhichweakenthesocio-economicprogressacquiredbythosefamilies.In the beginning of 2011, the socialteamwillbebackedupbythearrivalof5psychologistswhowillbeprovid-ingsupporttothebeneficiariesofIDMandwhowillbeensuringthereferralofseriouspathologicalcasestospecial-isedhospitals.

CholeraPrevention:8 611persons

HaItI14 ■ AnnuAlREPORT2010 ■EntrepreneursduMonde

In 2010, in total, the differentactivities of Entrepreneurs duMondeinHaiti madeitpossible:

•tosupport5,340 micro-en-trepreneurs

•tomake8,611peopleawareofcholera

•for5,557people(ofwhom1,947 were vaccinated) tobenefit from the programme“CashforWork“

•totakecareof1,442 children

•tocreate90permanent jobsand132advisorypositions

Local Initiatives Fund for small enterprisesWith the support of Fondation deFrance,EntrepreneursduMondeman-agesthelocalInitiativesFundforsmallenterprisesestablishedat theendof2010.Itisaimedathelpingsmallentre-preneurstodevelop,createorrevitalisetheiractivity.Ittargetseithervictimsof theearthquakeorpeoplewishingtoestablishacompanyintheaffectedregions.Fromthebeginningof2011,Entrepre-neursduMondehasbeensupportingprojectswhichcontributetotheHai-tianproductionofgoodsandservices,boosting in thisway thecreationoflongtermemploymentand favouringactivitieswithanaddedsocialand/orenvironmentalvalue.Helpisprovidedintheformofcred-its,insomecasesintheformofsub-sidiesorintensiveandindividualisedassistance.

Camp Corail: supporting small businessesThe funds collected in 2010will beused,startinginthebeginningof2011,tofinancesmallentrepreneursofCampCorailandtocreateanenterprisestart-upcentretoaccommodatetheiractivi-ties.Itwillprovidebothasecureandasuitablyadaptedenvironmentfortheirdevelopment,aplacetosharecertaincosts(water,electricity,etc.)anden-ableindividualassistance(accountants,advisors,etc.).Attheendof2010,anagreementwasestablished foraplotconsistingof150m2wherethecentrewillbebuilt.

Defending GPLOnly1.5%ofHaiti’slandmassconsistsofforestry.Thisfacthasdramaticcon-sequences.Afterthequake,Entrepre-neursduMondeprovidedtheimpetustomobilisethemostimportantplayersonthisquestion,meetingwiththemin

March.Anagreementconcerninglob-bying in favourofaswitchtogasasareplacement forcarbonandtimber,includingstronggovernmentalinvolve-ment,wasproposed.Themeetingwasfollowedbytheestab-lishmentofaworkinggroupinwhichtheministryofPublicWorks,responsi-blefortheenergysector,thetwomaingascompanies,TotalandSodigaz, theunitednations’Agency forEnviron-ment (unEP), theAmericanWinneragencyandEntrepreneursduMondearecooperatingactively.Astudyhasbeencarriedoutinordertoestimatethecostsofdiffusinggasacrossthecountryasadomesticfuelsource.ArequestforfinancinghasbeendrawnupandhandedintotheCIRH.

Case studiesEntrepreneursduMondeHaitihasis-suedastudyamongthebeneficiariesof IDMicrofinance inordertoknowtheirpreciseneedsconcerninghous-ingconditions.Biogas,gascookstovesandsolarenergyarealsoobjectsofthestudy

Chamroeun - an autonomous partner within 4½ yearsEntrepreneursduMondecreatedCham-roeuninPhnomPenhin2006.Thefirstbranchofferedexclusivelyfinancialservices:savings,credits,healthinsurance.Sincethen,Chamroeunhassetup9otherbranchesandhasdevelopedprogrammesandassist-anceserviceshelpingmicroentrepreneurstoconducttheiractivitiesandtoimprovetheirlivingconditions.2008,2009and2010havebeenyearsofgrowthandstructuring.

100% CambodianEntrepreneursduMondehaspassed itsresponsibilitiesontoitslocalpartners.ACambodiandirectorwas recruited andtheprogrammehasbecomeacompanyrunaccordingtoCambodianregulations.Entrepreneurs duMonde remains con-siderablyinvolvedandpresidesovertheadministrativecouncil.SinceAugust2010,Chamroeuncoversitsoveralloperationalchargesthroughtherevenuegeneratedbyitsactivities.Theprogrammeisviableandhenceit isabletosupportthousandsoffamiliesinthelongterm.

Major social goalsSincethebeginning,thesocialmissionwasthemajorobjectiveofChamroeun´sap-proach.Eachyear,anauditassessesthesocialperformanceoftheprogrammeandhigh-lightswhereprogresscanbemade.Asurveyissystematicallyandregularlysubmittedtoborrowersinordertomeasurethechangeinthesocio-economicleveloftheirfamilies.

A dedicated teamThe95employeesareverydedicated.Theybothexplaintothefamiliesthattheyhavetorespecttheircommitmentasregardsre-paymentandhelpthemtofindsolutionstotheirproblemswiththehelpofthesocialassistantsoftheteam.Thisteamworkbearsfruit:repaymentratesexceed98%andthebeneficiariesaresatisfiedasapproximately80%ofthemcontinuetocomebacktoChamroeunonce their loanshavebeenrepayed.

aIMInG For SuStaInaBIlItyBecoming independent

EntrepreneursduMondeisanincuba-torformicrofinanceprogrammescom-mittedtosocialmissions.Ourmissionistopromotetheemer-gence,consolidationandsubsequentlythecontinuityoffinancialandnonfi-nancialservicestothemostvulnerablepeople.In practice,we support partnersbystructuring,providingforandfinancingthemuntiltheyachievebothfinancialviabilityandorganisationalandinstitu-tionalindependence.

TECHNICAL INDEPENDENCEWehelplocalteamsformalisingproce-duresoneverylevel(operational,ad-ministrative,financial,etc.),sothattheyareabletoactindependentlytodelivertheservices theyoffer.Stepbystep,competenciesaredevelopedwithintheteams.Thisstrengthensthemandtheyfinallybecomeselfsufficient.Ifnecessary,EntrepreneursduMondecancontinuetoprovidesupportinveryspecificprojects,forexample,whenes-tablishingnewtoolsorservices.

FINANCIAL INDEPENDENCEDuetotheverysocialapproachofEn-trepreneursduMonde,itispossibletoachieveafinancialbalancewithin4to6years,dependingonthenatureofourintervention.Duringthisperiod,EntrepreneursduMonde is committed to cover theoperationaldeficitof establishedorsupportedprogrammesbyusing thedonationsthatitreceives.Astheprojectsgraduallymovetowardsindependence, thedemand for fundsandcreditsnoticeably increasesandcannotbefinancedbydonationsalone.Thechallenge is thereforetoobtaincomplementarysourcesoffinance.

FOCUSTheservicesofferedbyourpartnersneedtobe

continuedbeyondtheperiodofourfinancialandtechnicalsupport

inordertoachievelonglastingeffect.

Thisrequirestechnical,financialandinstitutional

independence.Exchangeofexperiencesandcapitalisationprove

tobekeyelementsinthepursuitofthisgoal.

s

16 ■ AnnuAlREPORT2010 ■EntrepreneursduMonde

aIMInG For SuStaInaBIlIty

These are usually obtained as loansfromspecialized institutions, suchasbanksand investment funds.Asthesefinanciers usually refuse to lend tostructuresthatarenotyetfinanciallyvi-able,wefoundedtheSASMicrofinanceSolidaire(p.23)inordertofinancepartofthecreditfundsforourpartners.In2010,ChamroeunjoineduPlIFTandnCRCinthegroupoffinanciallyinde-pendentpartners.InthefollowingsectionwewillfocusonhowChamroeunbecameindependent.

100,000

200,000

300,000

400,000

500,000

600,000

2006 2007 2008 2009 2010

Operating income (€)Need for grant (€)

INSTITUTIONAL INDEPENDENCEWeusuallysupportlocalorganisationsthatarealreadylegallyestablishedandmanaged.Consequently,theycanalreadybein-stitutionallyindependentevenifsomeofthemaskustoparticipate intheirstrategicdecisionsbytakingpartintheadministrativecouncil.Thechallenge forus is tomakesurethatthevisionofasociallyresponsiblemicrofinanceprogrammeisfirmlyes-tablishedandmaintainedinthelongrun.However, incertaincases,wecannotidentify localpartnerswhoshareourvalues.Consequently, inordertore-spondtothedemandsofverypoorfamilies,byprovidingthemwithmicrofi-nanceandadaptedtrainingservices,wedecidetocreateourownprogramme.Assoonasservicesandoperationalteamsareestablished,theprogrammeofEntrepreneursduMonde is trans-formedintoalocalstructurewithin-dependentmanagement: (associative,cooperative, enterprise), dependingonthelegalconditionsofthecountryconcerned.

exchange of experiencesEntrepreneursduMondecreatesady-namicofexchangeamongitsnetworkofpartners.Thisapproachallowseachofthemtohaveaccesstotheexperi-encesofotherpartnerprogrammes,tocontributeideasaswellastoexchangenewpracticalexperiences,thusavoidingreinventingthewheel.Inthiswaynewtools,feedbackreportsandbestpracticesarepromotedandexchangevisitsareorganised,allwith-out imposingstandardisationonpro-grammesthatexistindifferentcontexts.Itencouragesitspartnerstoadoptand,ifnecessary, toadaptthosepracticesandmethodologiestoallowforabet-terimplementationintheirrespectivefields,respectingtheparticularitiesofeachcase.

FACTSHEETSEntrepreneursduMondemanagestheweb site “Pratiques Microfinances”(www.entrepreneursdumonde.org/pratiques).Thisplatformisasupportforexchangingtools,bestpracticesorandfeedbackreportsamongstthepart-nerprogrammesofEntrepreneursduMondeandInter-Aide.Thewebsite isupdatedregularlyandoffers,inadditiontothecontributionsofitspartners,externalresourcesandlinkstootherwebsitesofasimilarna-ture.Itfocusesessentiallyoncollectingtoolsofsocialmicrofinance,groupedaccordingtothemaintopics.Thewebsiteisaccessibletoeveryoneasweconsiderthateverybodyshouldbeabletobenefitfromourexperiencesinordertosupportthoseinneed.

MUTUAL EXCHANGE VISITSOnsiteexchangevisitsconcerningcon-creteissuesareorganisedforpartnerslocated within travelling distance ofeachother.Thesevisitsenablethosepersonsthatareinvolved(creditagents,agencyofficers,etc.)todiscoverhowoperationsareconductedinsimilarin-stitutions.Inthiswaytheycanexchangeexperienceswiththeirpartners.Thissharingofexperiencesandideasisasourceofmutualenrichment.Inthisway,theteamsof ID-GhanaandVEG,which supports us inGhana, visitedtheteaminBeninandviceversa.Themanagersof theprogramme in IndiawenttoVietnaminordertodiscoverthepracticesinrurallocationsbeforeestablishingoperations inruralzonesintheregionofCalcutta.TheirIndiancolleaguesspent3daysafteraregionalseminar inPhnomPenhcarryingoutsitevisitsatChamroeun.

REGIONAL ENCOUNTERSRegionalseminarsheldonceayearalsoprovidetheoccasion forpartnersofEntrepreneursduMondetomeetup.Duringoneweekthereisanexchangeonissuesconstitutingthebasicprinci-plesofsocialmicrofinance.Thesemeetingsincludepresentations,workshops,sitevisitsandreportsfromexternalparticipants.Theyaretheocca-siontopromoteideasonchosenissuesandtodiscusstheminapracticalway,takingintoaccountexperiences,bring-ingupsuccessfulcasesaswellasfailures.In2010theregionalmeetingswereheldinPhnomPenh inCambodia forourAsianpartners(35participants)andinCotonou inBenin forourWestAfri-canpartnersandHaiti(40participants).TheywilltakeplaceinIndiaandGhanainsummer2011.

ProSPeCtS Social Microfinancing

CURRENT PARTNERSHIPSOurtechnicalsupporttodifferentpro-grammeswillbeintensified,especiallytostrengthentheirsocialperformance.Anadvisorwillberecruitedsupport-ingthepeopleineachregionalcentre,controllingtheapplicationofPAT,SPItoolsandthesatisfactionsurveys,aswellasanalysing theresultsandtheapplicationofthedecisionsbasedonthoseresults.Ourfinancialsupportwillbecontinued,adaptedtothecircum-stancesofeachpartner.

NEW PARTNERSHIPSAsiaInlaoswearegoing to supportanorganisationwithemploymentassist-ancethathelpswithstructuringanddevelopingitsofferinmicro-financing.InSrilanka,wewillsetuptechnicalsupportfortwopartners,onesituatedinthecapital,theotherintheCentral-northernregion.

tionsandmaterials,willbesetup.Also,debrisfromdestroyedhousescouldberecycled fornon-load-bearingpanels.ProvidingthatthepilotprojectprovestobesuccessfulitwillbeextendedincollaborationwiththeIlOandtheun-OPS,andhousingcreditwillbeofferedtotherecipients.

PHOTOVOLTAIC ELECTRICITYThepromotionanddistributionofpho-tovoltaicsystemsforelectric lighting,thechargingofmobilephonesorthecreationofrevenuegeneratingactivi-tiessuchascybercafés,madepossiblebymicrocredits,willbestudiedinHaitiandinBurkinaFaso.InHaiti,aproto-typeofaphotovoltaicgeneratorisbe-ingdeveloped.

DRINKING WATER & MILKInthesetwocountries,thecreationofdrinkingwaterbyuseoftheWATA™systemandthesaleofchlorinatedsolu-tionswillbedeveloped.InMongolia,thefirststepsinthepro-ductionandcommercialisationofmaremilkproductswilltakeplaceoncewin-terhasended.

❙ assistance for employment & productive entrepreneurship

TwoinitiativesinanewfieldwilltakeplaceinAsia:asocialenterpriseincuba-torinPhnomPenh,inCambodia,andanotherorganizationforemploymentassistanceinManila,inthePhilippines.InHaiti,activitiessupportingthecrea-tionofproductionenterpriseswillbeextendedwithintheframeworkofFIlandFondsCorail.Finally,inBurkinaFaso,EntrepreneursduMondewillincreaseitssupporttomicro-entrepreneurs of two enter-prisezones(ZAPE,Hand-craftAreasandSupportforEnterprises).Thesewillprovidetrainingsformanagementandtechnicaltrainingsinordertoencour-agetheretailingofspirulinaandthedistributionofimprovedstoves.

Ourfinancialsupportforothersispos-sible,dependingonthefinancingweourselvesreceive.InBurma,wehavemanagedtoobtainthenecessaryfinancetosetupanewprogrammeintheSouthofYangon.Fi-nally,inthePhilippines,wehopetobeabletosupporttwoinstitutionsinruralareasinthenorthofluzonIsland.

WestAfricaWearegoingtoextendouractivitiesinTogobyproposingto improvethesocial performance of several MFIs.Wearealsogoingtodevelopaspecificprogrammeofmicrofinancingaimedathelpingthose livingwithHIVbycol-laboratingwithassistancecentres.

Social entrepreneurshipIMPROVED GAS COOK STOVESThe promotionof spirulina,nubianvaults,gascookstovesand improvedwoodorcarbonstoveswillbecontin-uedinBurkinaFaso.Wehopetoobtainaccreditationforthestoveprogrammeassoonaspossibleinordertoobtainthecarboncreditsandtoextendouractivity.InHaitiwewilldeveloparangeofeconomicwoodstovesandwewillcontinuetotakeanactivepartinthepromotionofgas.

HOUSINGInHaiti,astudywillexaminetheques-tionofhousingandapilotprojectforhousesof thetypeCRATerre,whichareanti-seismicandrespectlocaltradi-

PartnerSBurKIna FaSo

ASIENA hasworkedwithEntrepreneursduMondesince 2008 inordertobecomemoreprofessionalandachievesustainability.AsIEnArespondedpositivelytothedemandsfromrecipientsandcollaborationproposalsfromothernGOs.Asaresultithasdevelopedinseveralways:■Creationofamobilebranchthatmeetsrecipients in thepoorestareasofOuagadougou’soutskirts,■Supporttowomeninthesheaindustry,inpartnershipwiththeOccitaneFoundation-developmentofapilotprogrammeforthetrainingofwomeninspirulinaconsumptionandsales,■Contributiontotheproject“ uneFemme,unFoyer,uneForêt “(Awoman,Ahousehold,Aforest).AsIEnAhasthusequipped576womenwith improvedwoodcookstovesorgascookstoves.Its teamhasbeenrestructuredbyplacingareacoordinatorsbetweentheOperationsManagerandtheothercoordinators.TheaimforAsIEnAisnowtoconsolidateitsachievementswith-outneglectingtheprofessionalismneededtomanageitscreditportfolio.Itmustimplementmeasureswhichfavourtransparencyandthemonthlymonitoringofindicators.

BenInALIDé isaBeninesemicrofinanceinstitution,ac-creditedsince2010andapartnerofEntrepreneurs

duMondesince2003.TheyearhasbeenmarkedbygreatprogressonseveralfrontsandmuchgreaterautonomyearnedbyAlIDé.Thefirst thousandFCFAofoutstandingcredithasbeenreached.Theprogrammeincludes10branches,twoofwhicharelocatedinruralareastothenorthandeastofCotonou,andservesover16,000families.Itsteamhasbeenreinforcedby10permanentsocialworkerstakingcareofthemostdeprivedbeneficiar-ies:extremelypoorwomenbenefitingfromkickstartloans,peoplelivingwithHIV,orrefugees.Thislongcollaborationwillgointoanewphasewhenfinancialsustainability isachieved,as isexpected in2011.ButitwillundoubtedlycontinueaslongasAlIDécontinuestobeamodelofsocialmicrofinance.

City Cotonou,Portonovo,Cootomey,AlladaTypeofsupport tech/finn°ofbranches 10numberofemployees 71numberofsupportedentrepreneurs17993Averagecreditgranted €208n°ofsavingsaccounts 18206Averagesavingsperaccount €59

GHanaID-GHANAhasbeensupportedbyEntrepreneursduMondesince2005.ItoperatesinthemostdeprivedareasofAccraanditsoutskirts.

Theyear2010wasmarkedbytherecruitmentofaGhanaiandirector,whotookoverthereinsoftheprogrammewithrigouranddetermination.Withitshighlycompetentandexperiencedmanagementteam(themaindirectorsstartedatIDGhanaascreditagents),theorganisation’sindicatorshaveim-provedsubstantially:todaytherepaymentrateexceeds97%,andthefigureforportfolio-at-riskstandsat6%.Itssuccessdemonstratesthatitispossibletosustainablyserveextremelypoorpopulations,contrarytoconventionalideasheldinthemicrofinancesector.Inparticular,thishasbeenachievedthankstoaninnovativegroupmethodologywithoutjointliability,whilegettingclosertofinancialsustainability.ThechallengeforIDGhanatodayistofindfundingtorespondtoaneverstrongerdemandwhilemaintainingthequalityof itsservicesandhealthyindicatorsintheclimateofagrowingnumberofbeneficiaries.

LSK isayoungmicrofinanceinstitutionwithateamstilllargelymadeupofvolunteers.EntrepreneursduMondehassupporteditsgrowthsince2009.Twoimportantachievementsmarkedtheyear2010:TheadaptationofgroupmethodologyfromEntrepreneursduMondetoapilotprogrammeinOuagadougou.Theparticipation intheproject“uneFemme,unFoyer,uneForêt”bycreatingapopularandtimelyproduct; target-levelsavings,whichplaceswomeninadynamicofcareful,thoughtfulplanning.Thishasenabledthemtoequip380womenwithim-provedcookstoves.In2011,prioritywillbegiventoguidelineconception,coordinatortrainingandthe implementationofthegroupmethodologyvalidatedin2010.Theadoptionofthismethodwillbeadecisivemomentfortheinstitution,asitmaybecomeitskeytosustainability.

MICROSTART aburkinabèmicrofinanceinstitution,metwithEntrepreneursduMondein2008.Theircollaborationstartedonaspecifictechnicalpoint:aprojectforsharingdatabases.In2010,thepartnershiphasbeenexpandedtosocialentrepre-neurship:Microstartactivelyparticipated intheproject“uneFemme,unFoyer,uneForêt”. Itequipped726womenwithimprovedwoodorgascookstoves,thankstoa10millionFCFAdonationforaspecificcreditfund.In2011,Microstartwillfacethechallengeofimplementingsocialperformancemanagementtools,andmustalsoactivelysearchfornewsourcesofcreditfundsinordertomeetanincreasingclientele.

City/area Ouagadougou,outskirtsandruralareasTypeofsupport tech/ope/finnumberofemployees 3and13volunteersn°ofsupportedentrepreneurs 3800Averagecreditgranted €89

City/area AccraTypeofsupport tech/ope/finn°ofbranches 6numberofemployees 41numberofsupportedentrepreneurs 5959Averagecreditgranted €149n°ofsavingsaccounts 6821Averagesavingsperaccount €27

EntrepreneursduMonde ■ AnnuAlREPORT2010■ 19

PartnerS

H aItIID MICROFINANCE (InitiativeDéveloppementMicrofinance-Micro-

financeDevelopmentInitiative)hasbeensupportedbyEntrepreneursduMondesince2003.ItintervenesintheslumsandpoorareasofPort-au-Prince.Theyear2010hasbeenofcoursemarkedby the January,12th earthquake. Facedwithsuchcircumstances,IDMicrofinancehasdemonstrateditsresponsivenessinsupportingtherevivalofitsborrowers’activitiesand inacompleterevisionofcreditmethodologies,especiallythegen-eralisationofthemethodologyofgroupwithoutjoinliabilityandaprofoundrevi-sionofitscreditconditions.12 months later, ID Microfinance hasmanagedtobringitsportfolioindicatorsbacktopre-quake levels. Inaddition, itnowrunsasocialsupportprogrammethateffectivelycomplements itssupplyoffinancialservices,instrictaccordancewiththesocialapproachadvocatedbyEntrepreneursduMonde.In2011, IDMicrofinancewillcapitaliseonitsrecoverytodevelopitsnetwork,rationaliseitsfunctioning,diversifyitsdis-tributionchannels,andacquireastrongbrand,toreinforceitsrootsintheveryfabricofHaitianeconomics.

IndIaNCRC (navnirman Community Re-source Centre) has been a partner

ofEntrepreneursduMondesinceAugust2007. Its5branchesare located in theprecariousneighbourhoodsofCalcuttaandHowrah.Followingtheinternalcrisisundergonein2009,thepriorityhasbeentoredeployactivitiesandtogivegreaterweight tosocialservices.Inadditiontotheirmonitoringofcreditand savings, eachfieldworkerdeliverstrainingtogroupsintheafternoon.

Ateamoftwosocialworkershasdevel-opedasupportserviceforfamiliesinverydiresituations.Giventhepopularityofthisinitiativeandthestrongdemand,3othersocialworkerswillreinforcethisteamin2011.Thesedevelopments have rapidly con-vincedthe familiesthat it is intheir in-teresttousenCRC’sservices.Thishastranslatedintoastrongindicatorof im-provement.

Inacontextwherecommercialmicrofi-nanceisomnipresent,thisdecidedlysocialmeasurehasshownitsworth.nCRCnowfacesthechallengeofmobilis-ingthecreditfundsnecessarytorespondtoaverystrongdemand.

VIetnaMCHI-EM istheprogrammeheadedsince2007byEntrepreneursduMondein

partnershipwiththepopularcommitteeandtheassociationofwomenofthemountainousregionsoftheDienBienprovinceinnorthernVietnam.Throughbranches inDienBienandMuongAng,Chi-Emenablesvillagerstodevelopsmallagriculturalactivitiesbyaccessingfinanceandarangeoftechnicalandmanagementtraining.

Abigeffortwasmadein2010tocreatemodulesfortechnicaltraining.Inorderforvillagerstomaximisetheimpactoftheborrowingtheyundertake,itises-sentialthattheyalsobeabletoprogressinagriculturalandlivestocktechniques.Soastomakeitpractical,trainingisorganiseddirectlyinthefieldsthemselves.Thismethodologyisgreatlyappreciatedbythetrainees,asusuallytheyonlyhaveaccesstotheoreticaleducationviatheDepartmentofAgriculture.Tocontinueitsdevelopment,Chi-Emmustnowreinforceandstabiliseitsteams.ThisposesasignificantchallengeinthecontextofDienBien,whereitiscommonforthewell-educatedtomigratetoHanoiinsearchofbetterlivingconditions.

City/Area Port-au-Prince,Cabaret, LéoganeTypeofsupport tech/ope/finN°ofbranches 5Numberofemployees 89N°ofsupportedentrepreneurs5315Averagecreditgranted €210N°ofsavingsaccounts 7115Averagesavingsperaccount €18

City/Area Calcutta/HowrahTypeofsupport tech/opé/finn°ofbranches 5numberofemployees 30n°ofsupportedentrepreneurs4995Averagecreditgranted €86n°ofsavingsaccounts 4980Averagesavingsperaccount €11

City/area DienBien/MuongAng Typeofsupport tech/ope/finN°ofbranches 3Numberofemployees 12N°ofsupportedentrepreneurs 1988Averagecreditgranted €79N°ofsavingsaccounts 1696Averagesavingsperaccount €3

20 ■ AnnuAlREPORT2010 ■EntrepreneursduMonde

PartnerS

PHIlIPPIneSICDC  (Inner City Development

Cooperative) operates at the heart ofTatalon, one of the most vulnerablequarters of Manila, in the Philippines.Because of the force of conviction ofZenydeJesus,thefounder,forwhomthestimulationofeconomicinitiativesforthepoorest isamajorkey forbalancedde-velopment,EntrepreneursduMondehasbroughttechnicalandfinancialsupporttoICDCsince2007.

TyphoonOndoyseriouslyshookICDCinSeptember2009.In2010,alltheeffortwasconcentratedontherevivalofgeneratingincomefortheaffected families(80%ofthemembersofICDC).ICDCalsofocusedonthesalvageoftheco-operative itselfwhilefacingadisastrousfinancialsituation.Abigfundraisingcampaignallowedustocompensatethelosseslinkedtotheloansthatwerenotreimbursedbytheweakenedfamiliesandtoproposerehabilitationloanswheneverpossible.Thesituationremainscritical for ICDCgiventhat,likeitsmembers,itisfacingbigdifficultiestocopewith its levelofdebt(debttofinanceitsgrowthbetween2007and2009)afterthelossofabigpartofitsportfolioduetothetyphoon.

SEED (SocialEnhancementforEntrepre-neurialDevelopment)wascreatedin2005withthetechnicalandfinancialsupportofEntrepreneursduMonde.SEEDoffersloans, savings,assuranceandtraining tothepoorestpopulations intheprovinceofCavite,southofManila.

Forseveralyears,theorganisationtesteddifferentmethodologiesanddifferentwaysoforganisingtheirservicesinanattempttofindtheoptimalformulaforsupportingnumerousfamilieswhilemaintainingasuf-ficientlevelofrepayment.Atthebeginningof2010webroughtaboutan importantchangebyreducingtheinterestrateandotherchargestomakeservicesmoreat-tractiveandtofacilitateaccesstothemforthepoorestfamilies.Wetooktheriskofloweringour incomeperpersonwhich,weimagined,wouldbecompensatedbyanincreaseinthevolumeofactivity.Theriskpaidoff:inashortspaceoftime,thenumberofloansrosefrom934(February2010)to3,361(Dec.2010).Atthesametime,theborrowers understood the benefits ofrespectingrepaymentconditionsenablingthemtocontinuetobenefitfromthesein-expensiveservices.Duringthesameperiod,thefigureforportfolio-at-riskdiminishedfrom25%to5%!ThechallengeforSEEDnowistosucceedinmanagingthisstronggrowthwhilemain-tainingahighqualitylevelforeconomicandsocialindicators.

UPLiFT (urbanProgramforlivelihoodFinanceandTraining), createdin1993byInterAide,wasEntrepreneursduMonde’sfirstpartner inthePhilippines.Progres-sively,uPliFTdevelopedanetworkof16branchesinthepoorestquartersofMa-nila tooffermicrofinanceserviceswithadecidedlysocialapproach. Itsservicesareoriented towards themost impov-erished families inthemostproblematicneighbourhoods,offeringawiderangeoftechnical,socialandmanagementtrainingtocomplementfinancialservices.uPliFTbecameamodelwhichinspiredagoodpartofthemicrofinanceprogrammesnowoverseenbyEntrepreneursduMonde.It isnowtechnicallyandfinancially inde-pendentandmadenodemandforsupportfromEntrepreneursduMondein2011.Forautonomytobecompletelyachievedinallareas,themanagingteammustmaintain,inthe longrun, thestrongsocialvaluesfromwhichthestrengthoftheorganisa-tionstems.

MyanMarYADANA SUBOO,aprogrammefinanced

byTotal,hasreceivedtechnicalsupportfromEn-trepreneursduMondesince2007:identificationofloansandsavingsproducts,developmentofopera-tions,settingupofmanagementtools,andadvicere-gardingstrategicorientation.Twoprincipalprojectswereestablishedin2010.Thefirstofthemwastheconceptualisationofservicesenabling linkageofmicrofinancetoactivitiesofruraldevelopmentandtheregionalsocio-economicprogrammesofTotal.

City/area ManilleTypeofsupport tech/ope/finN°ofbranches 3Numberofemployees 12N°ofsupportedentrepreneurs1238Averagecreditgranted €175N°ofsavingsaccounts 1238Averagesavingsperaccount €31

City/area Cavite(southofManille)Typeofsupport tech/ope/finN°ofbranches 4Numberofemployees 32N°ofsupportedentrepreneurs4278Averagecreditgranted €75N°ofsavingsaccounts 5875Averagesavingsperaccount €11

City/area ManilleTypeofsupport tech/finN°ofbranches 17Numberofemployees 110N°ofsupportedentrepreneurs10911Averagecreditgranted €189N°ofsavingsaccounts 11191Averagesavingsperaccount €61

ThesecondprojectconsistedofthepreparationofaprogressivetransferofYadanaSubootothelocalcommunities.ThechallengeforEntrepreneursduMondeinthemonthstocome is tosucceed in launchingourownprogrammeofmicrofinanceinBurma,intheregionofDalainthesuburbssouthofYangon,andtospreadittowardsthedelta.Activitiescanbestartedassoonasthenecessaryfinancingismo-bilised,probablyinthemiddleof2011.

EntrepreneursduMonde ■ AnnuAlREPORT2010■ 21

PartnerS

Financial indicators for the 11 partners supported* by Entrepreneurs du Monde

*This table does not include the indicators for 3 MFIs which receive technical support but not financial support from Entrepreneurs du Monde.**n.a: not available at the time of completion of this report.

Country Partner Borrowerssupported

Numberofloans

Averageloan(€)

Outstandingloans(€)

Numberofactive

borrowers

Averagesavings(€)

OperationalViability

Haiti IDM 5,315 7,182 210 634,802 7,115 18 37.3%

Benin AlIDé 17,993 18,630 208 2,330,639 18,206 59 89.7%

GHana ID-Ghana 5,959 7,996 149 399,216 6,821 27 55.4%

Burkina Faso AsIEnA 3,800 4,757 89 300,318 n.a** n.a n.a

india nCRC 4,995 5,616 86 198,092 4,980 11 161.9%

VIETNAM Chi-Em 1,988 2,017 79 125,845 1,696 3 34.7%

CamBodiaChamroeun 17,051 24,625 111 1,225,982 21,615 15 114.1%

SovannPhoum 1,704 947 131 58,833 1,704 7 71.5%

PHiliPPines

SEED 4,278 5,919 75 153,016 5,875 11 38.3%

uplift 10,911 18,584 189 1,154,552 11,191 61 119.8%

ICDC 1,238 1,581 175 130,565 1,238 31 43.9%

TOTAL 75,232 97,854 151 6,711,858 80,441 32

CaMBodIaCHAMROEUN MICROFINANCE wascreatedbyEntrepreneursduMondeinCambodiainMarch2006.

Progressively,anetworkof10branchesofferingloans,sav-ingsandtrainingservicesaswellasasocialfollow-updevel-opedinPhnomPenhandinthethreemaincitiesofthecountry.Themaineventmarkingtheyear2010wastheachievementofoperationalviability,onlyfourandahalfyearsafterthecreationofChamroeun.Thisisaverypersuasivesuccess,consideringtheessentialplacegiventothesocialmission:servicesadaptedtothepoorest,awiderangeoftrainingservicesandfreeofchargesupport.ThisviabilitylevelwillallowChamroeuntoloweritsinterestratein2011,toself-financeitsgrowthintwoothercit-iesoftheregionandtodevelopnewservicestosupportevenmoremarginalisedpopulations.ThechallengeforChamroeunisnowtosucceedinfindingfinancingotherthandonationsinordertosustainitsgrowingcapitalneedforloans,inordertosupport12000morefamiliesin2011.

SOVANN PHOUMimplementsprogrammesofedu-cationonhealth,professionaltrainingandmicrofinanceinrehousingareas,ontheoutskirtsofPhnomPenh.

EntrepreneursduMondehassupportedthisCambodiannGOsince2006initsmicrofinanceactivities:settingupmanagementtools,adaptingoperationalproceduresandtoolsforthefollow-upofsocialperformance.Afterredesigningtheproceduresandtrainingtheteamsattheendof2009,thequalitativeresultsclearlyimprovedin2010.Inayear,thefigureforportfolio-at-riskdecreasedfrom21%toonly1.2%!Atthesametime,SovannPhoumresumedmanagementtrainingthathadbeenstoppedformorethanayear.

Thedownsideofportfolioreorganisationisthatthevolumeofactivityslightlydiminished.SovannPhoummustfindasuitablebalancetoallowthepooresttohaveeasyaccesstoitsserviceswhilemaintainingthehighqualityofitsportfolio.

City/area PhnomPenh&maincitiesofthecountryTypeofsupport tech/ope/finN°ofbranches 11Numberofemployees 94Numberofsupportedentrepreneurs 17051Averagecreditgranted €111N°ofsavingsaccounts 21615Averagesavingsperaccount €15

City/area PhnomPenhTypeofsupport tech/finN°ofbranches 1Numberofemployees 6N°ofsupportedentrepreneurs 1704Averagecreditgranted €131N°ofsavingsaccounts 1704Averagesavingsperaccount €7

Director Franck Renaudin

HAITI GuillaumeMellot,coordinator of post-earthquake programmes

SébastienSimonot,director of ID Microfinance

WEST AFRICA

Burkina Faso JonathanJurdith,coordinator

ModesteSoubeaga,director of EdM Burkina Faso

SœurBernadette,executive secretary ofAsIEnA

PhoebeOuedrago,director of Micro Start

BoureimaDambre,director of LSK

Ghana StephenDugbazah,director of ID-Ghana

Benin ValèreHoussou,director of ALIDé

ASIEA

India IsabelleRoche,support to NCRC

AbhijitBera,director of NCRC

Myanmar ThetKhaing,Manager of Yadana Suboo

Cambodia SopheaSuon,director of Chamroeun

SarangOut,director of Sovann Phoum

Vietnam PhuongDoThiBich,director of Chi-Em

Philippines DavidPetit,national manager

Josephinelopez,director of SEED

ZenydeJesus,director of ICDC

EdmonSison,director of UPLiFT

EdwinPeraz,director of SPACE

Mongolia MarcSamuel,founder of Gumi

Ouractivitiesaredividedintothreedivisions:

Haiti,WestAfricaandAsia.

Thisframeworkallowsus

tomonitorouractivitieswithgreatereffectiveness

andpromotesindependencefordevelopmentand

fundraising,andreportingbacktoourdonors.

teams

GoVernanCeHélèneKeraudren,finance and IT Systems manager

Laetitia Raginel

Grégoire Héaulme

❙ Creation of the simplified joint stock company Microfinance

Solidaireuntil 2008, capital funding for loanswasprovidedprimarilybygrantsanddonations.Inthepastthreeyears,sev-eralyoungmicrofinanceinstitutionswesupportarenowbetterstructuredandthankstotheirgoodperformance,feelabletomeetthegrowingdemandfromtheirbeneficiaries.Buttheircapitalre-quirements for loans(credit funding)has increasedaccordingly.unable toattractenoughexternalcapitalforthefuture,theyneedafundingboostatapreferentialinterestrate.

That’swhywecreatedMicrofinanceSolidaire,onJuly8,2010,ajointstockcompany with a starting capital of€400,000.ItsSupervisoryBoardcon-sistsof6people,directorsofEntre-preneursduMondeandshareholders.In 2010,€350,000was allocated tothreepartners: ID-Ghana,SEEDandChamroeun.Further fundingwillbeallocated in2011throughancapitalincreaseplannedinthesummer.❙ the Charter

Committee of donation trustTheCharterCommitteehascontin-uedtohelpEntrepreneursduMondeinimprovingitscommunicationtools,internalcontrolandfinancialstrength.Afollowupmeetingvalidatedtheman-agement of the association and theprogressmadeonthemattersmen-tionedabove.

TheGeneralAssemblyof Entrepre-neursduMondeconsistsof25people,mostlyworkinginbusiness,andmeetsonceayear.TheBoard isveryactiveandmeetsatleasteverytwomonths.Itwasre-newedduringthelastgeneralmeetingandconsistsofthefollowingpeople:Chairman :SabineRouxdeBezieuxTreasurer :Jean-PaulBernardiniSecretary :MichèleGaglianoDirectors :SergeBodenheimerChris-tineDescamps,MoniqueErbia,nadinelarnaudie,MichaelSmith

❙ Board of directors & General assembly

GoVernanCeEntrepreneursduMonde ■ AnnuAlREPORT2010■ 23

GoVernanCe

❙ Headquarters in Poitiers

Atechnicalplatformprovidessupporttomanagement,fundraisingefforts,in-formationtechnology,socialentrepre-neurshipandhumanresourcesteams.

CamilleMoureaux,in charge of Microfinance Solidaire and support to management tools.Fathinouira,accounting manager and controller lydieBaumont,assistant accountant & human resources

ArmelleRenaudin,donations and sponsorships managerClaireFayet,donations and sponsorships assistantVéroniqueMichel,communication manager

FlorenceBadarelli,human resources manager and partner-shipsBertrandFeuillade,head of IT toolsThomasThivillon,head of Social Entrepreneurship

Thethreepeopleinvolvedwithdona-tionsandcommunicationworkparttime and are regularly assisted byseveral volunteers, including JessicaAlexander, laurence Borrel,AldonaKapacinskaite, Florence levard andAnne-CatherinePrévost.

Specific funding issetuptosupportourMongolianandBurmesepartners.Technical support toYadana SubooinBurma(€10,000)continuestode-crease gradually as the programmestrengthens.Themare’smilkproject inMongolia(€50,000)resulted inthecreationofa localcompany in2010. Inadditiontooperationalresources,thevaluationof Entrepreneurs du Monde sharesofcapital in theMongoliancompanywhichmanagestheprojectexplainstheextraordinary incomeof€30,000re-cordedinprofitthisyear.Followingtheprecautionaryprinciple, theseshares-plusthecontributionof€50,000in2010-areaccruedforupto100%oftheirvalue.

Breakdown of expensesTotalexpenditure in2010amountedto€3,001,537 mostofwhich (92%)was dedicated to social missions,that is to say directly used in localprogrammes,managedorsupportedbyEntrepreneursduMonde.

Social Missions €2,758,903 In2010,socialmissionsexperiencedexceptionalgrowthduetothestartofthepost-earthquakeprogrammeinHaiti,andastrongsupport forexist-ingmicro-creditactivities tohelptoovercomethecrisis.Haitiaccountedfor56%ofthesocialmissionsofEntre-preneursduMondethisyear.Otherprogrammeshaveexperienceda48%significantgrowth.EntrepreneursduMondehasincreaseditssupportofprogrammessuchasthegrowingChi-EmandSEEDinAsia,BurkinaFasoandID-GhanainWestAfrica.Fundsraisedin thePhilippines for ICDCalso in-creasedtomeetthesignificantchal-lengesofthispartner.Incontrast,otherprogrammesaregraduallymaturingandthereforerequirelessfunding:nCRC,Chamroeun,uplift,YadanainAsia,andAlIDéinWestAfrica.

FInanCIal rePortTheexpenditureofEntrepreneurs

duMondejumpedthisyearduetopost-earthquake

actionsputinplaceinHaiti.Totaloperatingexpensesamounted

to€3,001,537representingan87%increaseover2009.

Concerningrevenues,wenotethattheexceptionalallocation

fundforHaitihassupportedtheincreaseofouractivitiesthere.

Inallcountries,operationalresourceshavemorethan

doubledto€3,931,644.Ifweputasidepost-earthquake

programmesinHaiti,whichrepresentsonethirdofthetotal

expendituresofEntrepreneursduMondein2010,revenueswereup25%over2009and

operatingexpenses29%.

Funds raisedFoundationsandcorporationsnowac-countforhalftheresourcesofEntre-preneursduMonde.Themomentumofpreviousyearshascontinuedandin2010weobtainedsubstantial fundingfromtheFondationdeFranceonHaitiforpost-earthquakeprogrammesandpre-existingmicrocreditactivities.In addition to French DevelopmentAgency(AFD)support- fundingob-tainedin2009-substantialfundingfromun agencies for Haiti programmeswasobtained.Thustherelativeshareofpublicfundscontinuestorepresentaboutathirdoftheresourcesoftheassociation.Individuals continue to supportouractionsthroughsponsorshipordona-tions.AftertheHaitianearthquake,wecollected€210,000morethanusualthankstoanoutpouringofsolidarityonthepartofdonorsandeventsor-ganisedtoraisefunds.Thetotaldona-tionsreceivedfromindividualsexceeds€500,000.

Foundations & CompaniesIndividualsPublicfunds

20

10

€3,931.6K

50%

34%

2% 1%

13%

20

07

€1,151K

28%

16%

2%

39%

13%

2%

20

09

4%

€1,763.9K

38%

16%

36%

5%

1%

SupportingpartnersProjectHumanopoleOtherIncome

20

08

€1,293.2K

34%

26%

22%

9%

2%

7%

raPPort FInanCIerEntrepreneursduMonde ■ AnnuAlREPORT2010■ 25

FInanCIal rePort

ExpensesrelatedtosocialmissionsofEntrepreneursduMondeareas fol-lows:

Fundraising costs €48,269 Thecostsinvolvedinfundraisingcoverthesalariesofthreepart-timeemploy-eesdedicatedtocommunicationsandthemonitoringof relationshipswithsponsorsanddonors,andtheutilisa-tionofcommunicationsmedia.

Operating costs €194,365Operatingcostswereup37%thisyear,butremainundercontrol,sincetheyrepresentonly6%oftotalexpenditurefortheyear.Thesignificantgrowthinactivity in recent years has justifiedthestrengtheningoftheheadquartersteambytwo full-timeandtwopart-timepeople.

Variation of allocated resourcesTheoverallbalanceattheendof2009amountedto€120Kandwasusedtofinanceactivities fortheyear. Attheend of 2010, programme resourcespendingallocationreached€929K.Thisconcerns fundsreceived in2010 foractivitiesin2011.ThesearemainlyforfinancingtheprogrammesinHaitiandtoalesserextentfundingforBurkinaFaso (Occitaneproject), and for thePhilippines(ICDC).

Resource surplus for the yearTheyearendswitharesourcesurplusofabout€122K,includingtherecoveryofaportionoftheallowanceforequityinterestsinoursubsidiaryChamroeun(€50K).Wewerealsoabletodedicate2%ofcertaindonationstoconsolidatetheassociation,whichisanimportantpriorityforEntrepreneursduMonde,tocopewiththelargeincreaseinac-tivity.

Balance Sheet as at dec 31 st, 2010 Loans to programmesEntrepreneursduMondewillcontinuetoprovideloanstoitspartnersfortheircapitalrequirementsuntilMicrofinanceSolidairecantakeoverentirely.Theout-standingamountis€402K.Theseloansarefinancedinturnbyloansfrombanks,foundationsandindividuals.

Institutionalised programmesIn2009and2010,ChamroeuninCam-bodiaandGumi inMongolia,helpedfromthebeginningbyEntrepreneursduMonde,havebecomeprivatecom-panies.Ourcontributionshavebeenvalued inequitytoatotalof€257K.ThereisalsoacurrentaccountadvanceassociatedwithChamroeunof€150K.

Asaprecaution, theseti-tlesareprovisionedforat€110Kin liabilities.SharesofEntrepreneursduMondein Microfinance Solidairecapitalhavereached€40K.

Increased activitiesThe public and privategrants receivable in re-spectofthe2010activitiesreached€994KattheendofDecemberandwillbecol-lectedoverthefirsthalfof2011.Ontheliabilitiesside,€929K of dedicated fundshavebeencollectedin2010andwill fundactivities thatareongoingin2011.

DebtsTheseconsistmainlyofdebtfor loans to fundourpart-nersandexceptionalaccru-als matching grants pend-ingpayment toourpartnerIDMicrofinanceinHaitithatwillbepaidinearly2011.

Association fundsTocopewiththeincreasedactivity,En-trepreneursduMondehasstrength-eneditscapitalthroughoperatingsur-plusesofthepasttwoyears.

France

EdMHaiti

Mongolia

uplift(Philippines)

InnerCityDevlp(Phil.)

SEED(Phil.)

SPACE(Phil.)

Cambodia

Myanmar

Vietnam

India

Benin

Ghana

Burkina

IDMicrofinance(Haiti)

26 ■ AnnuAlREPORT2010 ■EntrepreneursduMonde

FInanCIal rePort

ASSETS 2010 2009 lIABIlITIES&EquITY 2010 2009

FixedAssets 900775 391856 Equity 309054 187386

Intangible fixed asset 658 Reserves 92 849 92 849

Tangible fixed assets 50 842 55 254 Retained earnings 94 537

Equity share 447 382 96 378 Operatingsurplus/deficit 121 668 94 537

Loans to programmes 401 893 240 224 Accruals 110000 80000

Currentasset 1242133 247746 Dedicatedfunds 929336 120897

State-Grant receivable 437 122 7 247 Liabilities 857726 411763

Associates- Current account (group) 75 453 Long term financial liabilities 499 346 283 040

Accrued income 557 182 36 000 Short term financial liabilities 661 1 405

Other receivables 48 794 41 193 Tax and social accounts payables 75 005 54 675

Prepaid expenses 199 035 87 853 Accrued expenses 258 030 56 264

CashandBank 63208 160444 Deferred income 15 622Other liabilities 24 684 757

TOTALAssETs 2206116 800046 LIABILITIEs&EquITy 2206116 800046

expenditure and resources Summary for 2010 (€)

Balance Sheet at december 31st, 2010 (€)

EXPEDITuRE Currentyear

of which income from individual

donors

InCOME Currentyear

of which income from individual

donors

Unused income at year start 82 681

Socialmissions 2758903 403695

Activities in France 62 302 FundingfromIndividualdonors 509475 509475

Programmes abroad 2 696 601 403 695 Otherprivatefunding 1991371

Fundraisingexpenses 48269 48269 Subsidiesandotherpublicfunding 1390801

Operationalexpenses 194365 13677 Otherincome 69997

TOTALExPEDITurE 3001537 TOTALINCOME 3961644

Accrualexpenses 80000 Accrualreversal 50000

Programmeincomependingallocation 929336 Allocationofprogrammeresources

frompreviousyears 120897

Incomesurplusoftheyear 121668 Variationindedicatedfunds

GrANDTOTAL 4132541 GrANDTOTAL 4132541

Totalexpenditureonfundingfromindividualdonors 465641 Totalexpenditureonfundingfromindividualdonors 465641

Balanceofunusedincomeatyear-end 126515

Detailed financial report, audited by our chartered accountant KPMG, available on request

they subsidize our partners

they lend funds to our partners

SuPPortS

BRAGEAC

F O N D A T I O N

S O L I D A R I T E

Logo Quadri

29,rueladmirault-F-86000Poitiers-+33(0)549607363contact@entrepreneursdumonde.orgouprenom.nom@entrepreneursdumonde.orgwww.entrepreneursdumonde.org

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