Caribbean Microfinance Alliance

Stichting Binnenland Technische Ontwikkeling

Institution Contact Details
Name of Institution Stichting Binnenland Technische Ontwikkeling
Postal Address Wagenwegstraat 53
Country Suriname
Telephone 597-477811
Fax 597-411564
Email khjong@datsunsuriname.com or mjongtjienfa@datsunsuriname.com
Website Address
Skype
Contact Persons Mr. Michael P. Jong Tjien Fa - Chairman
Mrs. Kelly Hwang - Jong - Treasurer

Category Of Membership Application Microfinance Provider
General Institutional Information
Current Legal Status Non-profit Organization
Objectives The aim of the foundation is to promote the technical development and skills of inland residents in the broadest aspect. This objective is to ensure that micro - loans are provided to entrepreneurs who need some financial injections or those who want to make investments in expanding their business.
Brief History Datsun Suriname N.V. , was founded in 1968 and has from the beginning been active in selling , marketing and servicing of Yamaha outboard motors, water pumps and generators.

Chartering a canoe and motor costs a lot of money compared to the transportation costs in Paramaribo. This is caused by the costly system of maintenance of the engines in the interior. Datsun Suriname NV tries to train Yamaha certified mechanics in the interior and these people are also trained to become entrepreneurs.

Considering that most of the services and goods for inland residents are purchased in Paramaribo, we can conclude that the need for micro- entrepreneurs is unavoidable and has become indispensable. The current situation creates a social problem for the local community, namely structural poverty.

In order to alleviate poverty our foundation trains mechanics to setup their own micro franchise in order to bring service of Yamaha outboard engines to the remote areas to reduce the need to bring the engines to Paramaribo. In addition, most of the engines are functioning with one or two spare parts. Hence, there is a need for micro credit to jump start the ASW operations, concurrently upon completion of the training programs funded by Datsun Suriname, Yamaha and the IDB. The grant does not provide for the establishment of the workshops. Microfinance is absolutely necessary for the financing of the test tank, work bench, special service tools, spare parts and outboard engine units.
Ownership Datsun Suriname is primary financier of the foundation.
Microfinance Operations Local fishermen can access our established internal financing project, whereby based on being a member of a local church community members can asked for a loan which is being supported by the pastor.
Main Funding Sources At the moment the main funding resources came from donations received from Datsun Suriname NV and the IDB in the form of a grant.
Main Challenges Datsun Suriname has found that residents from the interior have little access to the services of conventional banks, because they live in remote areas and enjoy a low income.
Other Networks From 2010 Datsun Suriname NV and the Inter-American Development Bank (IDB) are working on developing a Micro Franchising Project, called Authorized Service Workshop (ASW).
The initial approval of this happened in December 2012, under the project nu

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