Adie (Association for the Right to Economic Initiative)

Adie — the Association pour le droit à l'initiative économique (Association for the Right to Economic Initiative) — is a French non-profit association founded in 1988 by the Franco-Polish economist Maria Nowak. It is widely regarded as the first microcredit experiment in Western Europe. Inspired by Muhammad Yunus and the Grameen Bank of Bangladesh, Nowak adapted microfinance methods to the French context, creating an association that lends to people who are excluded from the traditional banking system so that they can start or take over a business and create their own employment. Adie's core activity is accompanied microcredit: small loans combined with advice, training and ongoing support. It serves people who cannot access conventional bank credit, notably the unemployed and recipients of social minima, as well as young people and residents of priority urban neighbourhoods. The association operates through a network of local branches across metropolitan France and the French overseas territories, and offers free workshops, web conferences, and an online business-plan tool. Its advisers are reachable by phone and in its agencies. Over the decades Adie has grown into a significant French microfinance institution. By the end of 2013 it had granted 100,000 microcredits since its creation, and by the end of 2017 more than 300,000 credits. In 2022 alone it lent €164 million to 33,413 people in the form of microcredits and capital contribution loans, financing 26,317 businesses, of which 16,314 were start-ups. Among the entrepreneurs financed in 2022, 21% lived in priority urban policy neighbourhoods and 32% were under 30. The association has been recognised as being of public utility since January 2005. Adie is governed as an association under the French law of 1901. Its presidents have included Maria Nowak (1988–2011), Catherine Barbaroux (2011–2016) and Frédéric Lavenir (2016–2023). It also played a founding role in the European microfinance movement, creating the European Microfinance Network in 2003. Maria Nowak died in Paris on 21 December 2022, leaving a lasting legacy in French and European microfinance.

Adie was founded in December 1988 by Maria Nowak, a Franco-Polish economist who had worked on development and microfinance projects in West Africa and Albania. Inspired by her encounter with Muhammad Yunus, founder of the Grameen Bank in Bangladesh, she sought to apply microcredit techniques to France. Having failed to obtain support from public authorities and large NGOs, she established Adie as an association without financial means. It became the first microcredit experiment in Western Europe. The context of the late 1980s was one of rising unemployment, the growth of the service sector and the development of personal services, which made micro-enterprise increasingly attractive as a way to find or regain employment. Yet obstacles remained: regulation was heavy in certain professions and lack of access to capital was a major barrier to starting up. Adie was created to address precisely this gap, facilitating access to the banking system for people excluded from it so they could create their own business and their own job through accompanied microcredit. Adie's development was shaped by changes in the French legal framework. In April 2002, the French monetary and financial code authorised duly accredited microcredit associations to borrow in order to lend. In 2009, the auto-entrepreneur regime was created, bringing simplicity and predictability to the most modest entrepreneurs. Adie has been recognised as being of public utility since January 2005. The association expanded its reach across metropolitan France and the French overseas territories. By the end of 2013, it had granted 100,000 microcredits since its creation, contributing to 100,000 jobs created through the loans granted in France, with 94% of credits repaid. By the end of 2017, it had granted more than 300,000 credits since its creation. In 2022, Adie lent €164 million to 33,413 people in the form of microcredits and capital contribution loans, financing 26,317 businesses, of which 16,314 were business creators. Among the entrepreneurs financed in 2022, 21% lived in priority urban policy neighbourhoods and 32% were under 30. Internationally, Adie created the European Microfinance Network in 2003, extending Maria Nowak's theories to other Western countries. The association's governance has been marked by three presidencies: Maria Nowak (1988–2011), Catherine Barbaroux (2011–2016) and Frédéric Lavenir (2016–2023), with Emmanuel Landais serving as general director. Maria Nowak, author of several books including La Banquière de l'espoir and On ne prête (pas) qu'aux riches, was elevated to the dignity of Grand Officier de la Légion d'honneur in 2017 and died in Paris on 21 December 2022.

• 2022

  Adie lends €164 million to 33,413 people and finances 26,317 businesses.

• 2022

  Founder Maria Nowak dies in Paris on 21 December.

• 2017

  By year-end, more than 300,000 credits have been granted since creation.

• 2016

  Frédéric Lavenir becomes President.

• 2013

  By year-end, 100,000 microcredits have been granted since creation, with 94% repaid.

• 2011

  Catherine Barbaroux becomes President, succeeding Maria Nowak.

• 2009

  The auto-entrepreneur regime is created in France, simplifying business creation for modest entrepreneurs.

• 2005

  Adie is recognised as being of public utility (reconnue d'utilité publique) in January.

• 2003

  Adie creates the European Microfinance Network.

• 2002

  The French monetary and financial code authorises duly accredited microcredit associations to borrow in order to lend.

• 1988

  Maria Nowak founds Adie in December, the first microcredit experiment in Western Europe.

Non-profit microfinance association enabling people excluded from traditional banking to become entrepreneurs through accompanied microcredit.

• Microcredit

  Small loans for people excluded from traditional banking, combined with advice and support.

• Capital contribution loans

  Loans intended to strengthen the capital base of new businesses.

• Business creation support

  Free workshops, web conferences, online business plan tool and adviser network.

1. 1Association micro crédit pour créer son entreprise – Adieadie.org
2. 2Association Adie - notre histoireadie.org
3. 3Wikidata: adiewikidata.org
4. 4Wikipédia: Association pour le droit à l'initiative économiquefr.wikipedia.org