Microcredit

Fonkoze, Haiti's most successful micro-lending institution, has released its annual report.  After a year of growth in 2009, the earthquake was a major blow to its operations.  Ten Fonkoze branches were severely damaged or destroyed.  Four hundred and fifty staff lost their homes and over 19,000 clients lost homes and/or businesses.  Fonkoze responded by expanding support to earthquake affected clients, including the use of micro-insurance as a tool to help rebuild their livelihoods.  Attached is both the annual report and an impact analysis.  Below is a summary of their 2009 and 2010 activities.    

In 2009, the Vincentian Family (a religious group that draws inspiration from St. Vincent de Paul) and Fonkoze (Haiti’s largest micro-lender) initiated a pilot project, named Zafen, that allows people to loan or donate to businesses in Haiti.  The website showcases businesses that have been subject to due diligence, provides easy online access for reviewing them, and offers Haitian entrepreneurs access to capital for expanding their operations.  In its first six months, Zafen raised $140,000 and provided funding for 300 projects ranging from coffee cultivation to community dairies.  An official press release follows.  Take a look at the Zafen website as well.

Fonkoze (Foundasyon Kole Zepol) has recently upgraded their website. One of the events being featured is a Haiti Solidarity Conference that will take place from October 10-12 at the Wyndam Miami Airport Hotel and Conference Center. The conference features speakers from the Grameen Foundation and the Consultative Group to Assist the Poor, discussions on micro-finance, as well as Haitian music and theatre. The registration form is attached below.

Last week, there was an announcement on Corbett's List that Lambi Fund had been awarded a grant by the Blue Print Creative Group.  This grant will help them to cultivate brand awareness, increase volunteerism, and stimulate corporate and private donations.  Americans are a generous people who make possible the work of scores of local and international organizations in Haiti.  However, support is often more forthcoming for natural disasters than the heavy lifting (capacity building, civil society strengthening, livelihoods) that is needed to help people feed themselves, manage their own emergencies, and become active leaders, instead of just aid recipients, who can address social problems. We hope that this grant will help them get the word about what they do and why it is important.