ADA was founded in Luxembourg in 1994 by a handful of friends from the financial sector willing to act to reduce poverty in developing countries. Among the key players were Mia Adams-Bormans and her husband, who were convinced that microfinance offered an effective form of assistance to help poor people in southern countries make their way out of poverty.
Very early on, the founders of the association built development projects focusied on specific support for microfinance institutions (MFIs). At this point in time, independent development was already ADA’s central aim.
Since its beginnings thirteen years ago, our little association has grown considerably: today, ADA manages an annual budget of more than three million euros and works directly with twenty-five MFIs on three continents (Africa, Asia and Latin America).These MFIs offer financial services to several hundred thousand microentrepreneurs around the world.
"With just a little money from an outside source, a poor person can take advantage of his or her abilities to become productive and independent."
Mia Adams-Bormans, founding member of ADA
- Women reimbursing their microcredit in Burkina Faso (2007, Copyright ADA/Guy Wolff)
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