Micro-Loan - Haiti Observer Blog

Here is something that might be of value to people interested in accessing funding for a Haiti project. The businesses can have access to loans from various financial institutions in Haiti, thanks to a USD 26-million housing finance under the name "REBATI Fund".

My job is to bring these information to you. However, if you are interested, you need to make the proper connections to learn more about it.

According to information received, three major organizations got together to offer this opportunity: The Overseas Private Investment Corporation, the U.S. Agency for International Development and the Clinton Bush Haiti Fund

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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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Microfinance has a long history in Haiti. Even in the 1990's the method was given considerable push from Sogebank's Chief Economist, Pierre-Marie Boisson, who was able to convince the bank's board of directors of its financial and social promise, eventually leading to Sogesol, their affiliate dedicated to microfinance.

While struggling to operate under the high administrative costs of running a microfinance institution (MFI), Sogesol has to meander the microfinance world, all while operating under Sogebank's bank regulations. There are no formal regulations governing microfinance and this leaves bank-run MFI's on shaky ground; if their umbrella organization finds the high-risk nature of giving loans without collateral, a staple of microfinance, unfeasible, their affiliates might face a shut-down. They must also deal with the very real competition from institutions that are not bank run, and, in some cases, are more established in the rural areas, where microfinance finds its biggest audience.

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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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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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