The tsunami in South-East Asia last December claimed almost 300,000 lives and left over a million people without homes and possessions. One year on, the damage caused by the disaster is still evident, especially in the Indonesian region of Aceh, where whole swathes of land were destroyed by the giant wave.
Many of the aid initiatives launched by Allianz companies and employees have concentrated on this area. In the period directly after the disaster, Allianz was involved in providing emergency supplies and organizing convoys. Now, one year after the tsunami, Allianz's focus has turned to long-term assistance.
Allianz helps rebuild microfinance in Aceh
Allianz companies and their employees donated over three million euros to the relief and reconstruction efforts in the areas hit by the tsunami. A main focus of this support from Allianz is the reconstruction of a microfinance system in Aceh.
Rebuilding a microfinance system in Aceh
Allianz is cooperating with the German Agency for Technical Cooperation (GTZ) to provide up to half a million euros to rebuild a microfinance system in the area.
"We are working on the principle of helping people to help themselves," explains Jens Reisch, CEO of Allianz Life Indonesia. "Although the international community is currently still supporting the reconstruction effort in Aceh, the people there will soon have to stand on their own two feet again, and it is this which we need to prepare for."
In order to do this, Allianz and GTZ are providing micro loans to farmers and small-business people in Aceh via rural credit banks, thus enabling them to resume farming or rebuild their businesses.
Usually, the poor have no access to commercial banks and thus have difficulty establishing an independent living. One solution are microfinance organizations which issue micro loans, or loans for very small amounts. Yet, many microfinance bank workers lost their lives in the tsunami and records of account movements were destroyed. To rebuild a microfinance system in Aceh, Allianz is supporting the training of new microfinance bank employees and customer advisors. Similar projects in India are planned.
"We are working on the principle of helping people to help themselves," explains Jens Reisch, CEO of Allianz Life Indonesia. "Although the international community is currently still supporting the reconstruction effort in Aceh, the people there will soon have to stand on their own two feet again, and it is this which we need to prepare for."
In order to do this, Allianz and GTZ are providing micro loans to farmers and small-business people in Aceh via rural credit banks, thus enabling them to resume farming or rebuild their businesses.
Usually, the poor have no access to commercial banks and thus have difficulty establishing an independent living. One solution are microfinance organizations which issue micro loans, or loans for very small amounts. Yet, many microfinance bank workers lost their lives in the tsunami and records of account movements were destroyed. To rebuild a microfinance system in Aceh, Allianz is supporting the training of new microfinance bank employees and customer advisors. Similar projects in India are planned.
Allianz donations also support the reconstruction of a primary school in Tibang near Banda Aceh
Over three million euros donated
Worldwide, the Allianz subsidiaries donated well over three million euros to help the tsunami victims, 1.4 million euros of which was given by Allianz employees themselves.
Just a few days after the disaster, the Allianz Direct Help foundation finalized a three-step plan for utilizing the donations from Allianz employees in Germany. The foundation provided immediate first aid and relief, and in the medium term, coordinated reconstruction projects to help children and young people. In the long term Allianz Direct Help is supporting the introduction of measures which will reduce future risk in developing countries.
Just a few days after the disaster, the Allianz Direct Help foundation finalized a three-step plan for utilizing the donations from Allianz employees in Germany. The foundation provided immediate first aid and relief, and in the medium term, coordinated reconstruction projects to help children and young people. In the long term Allianz Direct Help is supporting the introduction of measures which will reduce future risk in developing countries.
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