Programs: FHAF
Announced:
August 1, 2011
Category:
Supporting Micro Finance Institutions & Micro Entrepreneurs
Fund Amount: $850,000 Grant
Above, a female entrepreneur who can
sustain her business, thanks to a FHAF loan.
See more in the FHAF Photo Gallery.
Fonds Haïtien d’Aide à la Femme (FHAF), meaning "Haitian Fund to Help Women" in Creole, was established by women nearly 30 years ago, making it Haiti's oldest microfinance institution. Since then, it has served thousands of female micro-entrepreneurs throughout Haiti.
The January 2010 earthquake shook FHAF both physically and financially. The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group (IDB), provided a grant to FHAF so it could continue operating post-earthquake, and financed an initial diagnosis of FHAF’s financial situation, completed by H.R. Louis & Associates and NODUS Consultores. The Clinton Bush Haiti Fund grant will continue FHAF on the path to financial recovery by providing resources for it to restructure its business.
Why We Invested in FHAF
Clinton Bush Haiti Fund's grant to FHAF reflects the mission to support the restart and expansion of microenterprises, of which women are key contributors, by strengthening a Haitian microfinance institution that lends primarily to women entrepreneurs.
Transforming Lives and Livelihoods
The Clinton Bush Haiti Fund grant will go to restructuring its business model, hiring Haitian leadership, and updating its technology. It will do this while allowing FHAF to continue to finance its best clients. The grant will:
- Invigorate families and communities by pulling women into the formal economy;
- Offer business loans to underserved Haitians, particularly women in rural communities;
- Hire and train Haitian supervisors, providing them with the skills for effective leadership in microfinance;
- Modernize technology and educate employees on up-to-date information management systems;
- Strengthen a Haitian microfinance institution that provides credit to small and growing businesses throughout Haiti, furnishing it with the resources, knowledge, and capacity to thrive again.
About Fonds Haïtien d’Aide à la Femme
Fonds Haïtien d’Aide à la Femme (FHAF) is Haiti’s oldest, and only women-created and women-led, microfinance institution. It has been a pioneer of loans for small and growing businesses in Haiti, and has a deep understanding of the market, with nearly 30 years of experience. FHAF’s loans cover 80% of the country, including deep rural areas with little to no access to financial services.
