Micro-Lending - Haiti Observer Blog

President Martelly met with 54 business associations to seek solutions to informal sector challenges. The central need for small and mid-size enterprises (SMEs) is for credit at favorable interest rates.
Also present were ministers of Women's Affairs, Economy and Finance, and Crop Production, along with custom officials and Central Bank's CEO.

The Haiti informal sector is a non-aggregated group, and they account for 80% of the workforce. Underdeveloped SMEs have been ignored until the 2010 earthquake forced the issue of growing the economy.

The government of Haiti (GOH) has developed an agenda for SMEs, some of which includes:

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Haitian prime minister has recently officially launched the Haitian "Kredi Woz Pou Fanm Lakay" program. This is a program that translates to Pink Credit for Local Women which is meant to provide small loans for women with small enterprises. His Excellency Mr. Laurent Salvador Lamothe, accompanied by the Minister for Women's Affairs and Women's Rights (MCFDF), Ms. Yanick Mézile traveled to Hinche in the central plateau where they officially opened the program.

Haiti has been a country that has undergone a great deal of hardships over the last couple of decades. These have mainly been problems revolving around the leadership of the country where some of the past leaders have taken their power for granted using it for their own personal gain rather than using it for the welfare of the country. This is not to mention the kind of tragedy the recent 2010 earthquake left in the country.

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Leopard Capital has inked a deal with the International Finance Corporation (IFC) to set up the first private equity fund to re-energize Haitian small and mid-size enterprises (SMEs) wiped out by the 2010 earthquake.

With a goal of securing $40 to $75 million to re-capitalize Haitian businesses, the Leopard Haiti Fund (LHF) has attracted $20 million in funding from three development banks: IFC, LHF's senior partner, has invested $8.5 million; the Netherlands Development Finance Company (FMO) $8.5 million; and Multilateral Investment Fund (MIF) $3.0 million.

LHF will pour financing into four potential-growth areas: food manufacturing, sustainable energy, tourism, and low-income housing. The bulk of LHF's financial resources will help already-open businesses grow by re-capitalizing operations and restoring structural damage. A portion of LHF's investment funds will support SMEs and new businesses.

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In the Central Plateau town of Hinche, Prime Minister (PM) Laurent Lamothe and Minister Yanick Mézile of Women's Affairs and Rights (WAR) implemented the micro-lending program, Pink Credit for Local Women (PCLW), which will disburse modest loans to small businesswomen in rural regions of Haiti.

Prime Minister Laurent Lamothe listed the objectives of the micro-lending program: empower women economically, erase the stigma of poverty assigned them, and offer encouragement their lives can be improved.

Government of Haiti (GOH) President Martelly, an advocate of small businesswomen, has spoken out about the effects of micro-lending on struggling, rural female-owned businesses. He emphasizes the financial support given by the micro-lending program will allay many fears women experience in providing for themselves and their families.

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The "Haitian Joudalist" has learned that "Micro-mortgages" will be offered to Haitians as part of a new program funded by the International donors of Haiti. Former President Bill Clinton stated that this type of mortgage will be offered to the majority of people in Haiti, including the very poor.

Welcome to the world of Bills in Haiti

Does this mean that from now on, Haitians in Haiti will be able to feel the heat of "High Stress" that we, the Haitian Diaspora" have become accustomed to in the US and Canada?

Don't take me wrong, it will probably be a good thing for the people in Haiti to have access to funds. I just want them to know that they need to be smart about that and use it in a way that will make them become more financially independent.

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