LECTURE: Leonardo Letelier, from Sitawi Finance for Good

To an audience of 25 people gathered at the home of BrazilFoundation CEO Patricia Lobaccaro, Leonardo Letelier gave a lecture on April 24, where he spoke, as part of the series Ideas that Transform Brazil, about the work of ?Sitawi Finance for Good?. Implemented by himself to support the development of the financial infrastructure for the social sector, it is the first Brazilian fund, based on providing credit to companies and a kind of recycling of refunds to the fund.

Since 2009, Sitawi has provided loans totaling US$ 1 million, spread across ten organizations. In just over an hour, Leonardo Letelier gave a financial education class to the third sector, highlighting the importance of society's investment in financial intermediaries and the development and professionalization of the organizations involved in order to multiply their funds and collections.

Currently, the boundaries between the private sector and the third sector are getting smaller. And, within this trend, companies have shown themselves to be more interested in social impact and third sector organizations are more focused on new management models that guarantee their sustainability. Letelier spoke a little about the growth of the social business sector and gave examples of several models growing in Brazil.

Sitawi won the BID beyondBanking award for socially responsible investing in 2011. Prior to establishing the company, Leonardo, who holds a degree in Industrial Engineering from USP and an MBA from Harvard Business School, worked for McKinsey for 8 years. He was in New York, on a quick visit, before participating in the Impact on the State conference, promoted by the Secretary of State of the United States, Hillary Clinton, in Washington DC.


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