?Sitawi is the newest organization associated with GIFE? ? GIFE 01/11/2016


?The Sitawi? non-profit organization (OSCIP) in Rio de Janeiro? has just joined the GIFE Network and intends to bring all of its experience and knowledge in the area of social finance to the group. Founded in 2008, the institution was created with the aim of facilitating high social impact projects with financing difficulties in the traditional financial sector, bringing the concept of social loan to Brazil.

In 2011, this innovative social financing mechanism was recognized by the Inter-American Development Bank (IDB) as the best socially responsible investment in Latin America.

The organization operates in Brazil and abroad as a ?Finanças do Bem? operating financial solutions for positive socio-environmental impact, being structured in four areas: Social Finance, Sustainable Finance, Philanthropic Culture and Business & Impact.

Since 2012, Sitawi has also operated a social and environmental fund management service for large donors, in addition to advising financial institutions on integrating socio-environmental issues into business strategy, product development, risk analysis and investments.

Leonardo Letelier, CEO and founder of Sitawi, points out that, through the activities carried out by the organization, it was possible to allocate more than R$ 6 million to the sector, supporting 30 organizations to develop their programs on several fronts, benefiting around 130 thousand people. ?But I like to point out that our results go far beyond what is tangible. Our role is precisely that of bringing new ways of financing social impact in Brazil and that is what we have been doing over the years, as with the social loan. Our differentials are precisely the innovations that help change the way of thinking about the social field?, he highlights.

In Leonardo's opinion, this new way of looking at the sector is a trend that has expanded in recent years in the country, with GIFE itself defining support for social impact businesses as one of its strategic agendas, exploring and strengthening the different ways of allocating private resources to generate social impact? in for-profit and non-profit initiatives.

Sitawi also operates in other areas such as, for example, in the executive board of Brazilian Task Force on Social Finance (FTFS) ? which GIFE is also a part of. The FTFS is a group that brings together representatives from different sectors and aims to increase private and public capital for the development of impact mechanisms and businesses that contribute to the solution of Brazilian social problems. The goal is to increase impact investments in Brazil from R$ 13 billion, in 2014, to R$ 50 billion by 2020, in actions and businesses that combine social impact and financial sustainability, that is, that expand the offer of products and services that solve social problems and that have positive financial performance.

Sitawi's CEO also points out a new proposal for action by the organization, together with other institutions, for the development of ?social impact bond? in Brazil. The SIB is a financial mechanism in which investors pay the government to carry out a set of interventions in order to improve a social result. If the social outcome comes to pass, the government reimburses investors for their initial investment plus an income for the financial risks they have taken.

?This form of action gives more peace of mind to the NGO that was already developing social activity, for example, as it is not at the mercy of government changes and, probably, the government also ends up saving, as it will have projects with more social impact, as are linked to the results to be achieved, that is, to social performance?, comments Leonardo.

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