In addition to its reconstruction efforts in Sri Lanka, Desjardins provided support for SANASA, a network of financial cooperatives severely affected by the tsunami. Four years later the results are tangible and positive.
A tsunami devastates part of Sri Lanka
Sri Lanka is an island country in Southeast Asia with over 21 million inhabitants.
Sri Lanka was the country most affected by the tsunami of December 26, 2004 after Indonesia. The toll rose to over 35,000 dead or missing, 15,000 injured and 500,000 displaced after the destruction of 130,000 homes.
The inhabitants most affected were those living along the coast who made a living from fishing, tourism, agriculture or small businesses. An estimated 380,000 jobs were lost.
Read the complete article that appeared in My Money magazine, published by the Desjardins Group for its members.
Desjardins sets aside nearly one million dollars to aid Sri Lanka
In Canada, Desjardins quickly took action to help Sri Lanka. It set aside almost one million dollars from its surplus earnings into a fund for reconstruction efforts.
This initiative attracted additional contributions from the Canadian International Development Agency (CDIA) and the Société d’habitation du Québec (SHQ). In all, nearly two and a half million dollars were collected.
Management of the fund and implementation of the support project were entrusted to Développement international Desjardins (DID), which offered its collaboration to the SANASA network of cooperatives.
 Honorary leader of the SANASA Movement, Dr. Podi Kiriwandenyia
About SANASA
Founded in 1906, the SANASA Movement numbers 8,440 autonomous financial cooperatives located across Sri Lanka with more than 855,000 members representing over 3 million individuals. More than half of the members, who are mainly workers and entrepreneurs with low to moderate incomes, are women (54.9%).
The financial cooperatives vary in size, but all are focused on ensuring institutional viability and providing members with financial products and services that meet the needs of the communities to which they belong.
The SANASA Movement has several subsidiaries including a development bank, an insurance company and three training centres for staff members of its financial cooperatives.
Regina Piecaitis sent to Sri Lanka by DID
On February 6, 2005, barely six weeks after the tsunami hit, DID sent an expert advisor to Sri Lanka in order to help SANASA rebuild its network and resume activities as quickly as possible.
The mandate of Regina Piecaitis consisted of carrying out a diagnostic of the situation of the cooperatives affected by the tsunami, in collaboration with SANASA. The coops, which were not computerized or linked to a central network, had lost all records of member savings, loans and assets.
SANASA consolidates its network of cooperatives
After providing emergency relief, the SANASA network began to help communities and individuals to relaunch their economic activities. DID worked with this major cooperative movement to design and introduce new financial products.
In addition, several months after the tsunami many families still remained homeless. With funds provided by the Société d’habitation du Québec (SHQ), DID was able to manage a program to build houses for these families.
Inspired by the strength of the Desjardins Group and the quality of the partnership established during a crisis situation, SANASA decided to use funds put at its disposition to consolidate its network of financial cooperatives. The goal: ensure its sustainability and greater stability in the event of a crisis.
SANASA benefited from DID expertise in technological solutions to introduce transaction management systems and a decision-making support tool.
Finally, consolidation of the SANASA network led to professionalization of its human resources. Training was the focus of several DID interventions. The project contributed to training coop staff in credit management and financial management. It also promoted new methods and systems, in particular an integrated management system, among coop directors in order to facilitate their introduction.
Slideshow
Learn more about Sri Lanka with the slideshow of images taken during the filming of a video by DID in December 2008 in the southern part of the country.
Video: SANASA and Desjardins - Going Beyond Reconstruction in Sri Lanka
Watch this DID produced video by in the Discover DID section.
If you have questions or comments about this project carried out by DID, please send them to communications@did.qc.ca.
The DID support project for reconstruction in Sri Lanka was carried out in collaboration with the Canadian International Development agency and the Société d’habitation du Québec.
 
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