The Bank Andara investor consortium is led by Mercy Corps, an international relief and development organization with strong roots in Indonesia as well as leading investors in banking and microfinance development. Mercy Corps, received a start-up grant of USD19.4 million from the Bill & Melinda Gates Foundation’s Financial Services for the Poor initiative.
Founding investors include the International Finance Corporation (IFC), the Hivos-Triodos Fund, Cordaid and Mr. I. Wayan Gatha, founder of Bank Sri Partha, which was acquired as a part of the formation of Bank Andara. Ownership in Bank Andara was carefully structured around a small group of investors committed to the vision and mission of bolstering the Indonesian microfinance sector to make significant strives in poverty alleviation. After initiating bank development activities in mid 2006, the investor consortium officially acquired Bank Sri Partha in Denpasar, Bali on May 23, 2008 to formally begin the operation of Bank Andara.
International Website . Indonesian Website
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Mercy Corps Mercy Corps is an international relief and development organization that helps people in the world’s toughest places turn the crises of natural disaster, poverty and conflict into opportunities for progress. Mercy Corps’ worldwide team of 3,700 professionals is improving the lives of 14.5 million people in more than 40 countries. As one of its many areas of programming, Mercy Corps has accumulated over 20 years experience in the field of microfinance. The agency has developed microfinance institutions in 16 developing countries.
Mercy Corps established programs in Indonesia in 1999 and currently employs nearly 500 staff in five offices. Mercy Corps has supported the microfinance sector in Indonesia since 1997 providing technical assistance and funding to hundreds of MFIs.
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International Finance Corporation (IFC), a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. IFC fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. IFC’s new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year.
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The Hivos-Triodos Fund is a joint initiative of Hivos and Triodos Bank based in the Netherlands. Triodos Bank is the leading values‐driven bank in Europe with EUR 3.6 billion under management. Through the management of four specialized microfinance investment funds – including Hivos-Triodos Fund – Triodos Bank has been a pioneering provider of capital the microfinance sector since 1994. Total assets under management in microfinance amounts to EUR 180 million. Hivos is a non‐governmental organization, rooted in the Netherlands and guided by humanist values to contribute to a free, fair and sustainable world. Hivos’ network embraces 31 countries and the organization has a regional office in Indonesia.
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Cordaid combines more than 90 years’ experience and expertise in structural poverty eradication and development. Based in the Netherlands, Cordaid, the Catholic Organization for Relief and Development Aid is one of the world’s largest international development organizations, with an annual budget of more than EUR 170 million and a network of almost a thousand partner organizations in 36 countries. Cordaid has a strong track record financing and supporting the microfinance sector worldwide.
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Mr. I Wayan Gatha
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