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Grameen Foundation : Resource Center : Print Newsletter : Fall 2006 : Haiti Partner: More Than Microfinance

Fall 2006

In this issue... New Opportunity Ringing in Rwanda Haiti Partner: More Than Microfinance New Look, New Location, Same Commitment President's Message Alfonso Soriano: Fighting Against Poverty Um Khaled: Successful Product Reseller GF Research Advances Industry Knowledge Partnership For Latin America's Poorest Gates Foundation Awards $1.5 Million Grameen Shikkha: Scholarships Of Hope === Back to contents ===

Haiti Partner Giving More Than Microfinance

In Haiti, the Western hemisphere’s poorest country, microfinance is helping poor women like Claudette in many more ways than the vital role of establishing her own business. Our local Haitian partner, Fonkoze, offers a wide range of programs to ensure that the people they serve have the best chance of escaping poverty.

Claudette is one Fonkoze borrower who relies on the organization’s additional services, such as health classes, education and savings accounts to remain a healthy and prospering businesswoman.

Claudette recently made the transition from student to teacher at Fonkoze, offering literacy classes to groups of microfinance borrowers. Claudette describes how proud she is that “[my students] never miss a class… Now they all can sign their names.” Rozlèn, one of Claudette’s students, had been running her business and household without knowing how to read. After three months with Claudette, she can now sign her name.

Literacy training is available for all clients in three subjects—business development, reproductive health, and financial services. Fonkoze also runs a successful remittance program that allows relatives outside of Haiti to transfer an unlimited amount of funds into the Fonkoze savings account of a loved one for a $10 fee.

Fonkoze currently has 36,000 borrowers and provides savings services to 94,342 people. Considering the accomplishments to date and the unmet need, GF is working to help realize Fonkoze’s goal of reaching 200,000 borrowers by 2011. That would mean that more than one in eight Haitian families will be served by this microfinance institution alone.

Grameen Foundation : Resource Center : Print Newsletter : Fall 2006 : Haiti Partner: More Than Microfinance