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Haiti - Economy : Democratization and expansion to Production Credit access
22/10/2014 10:00:10

Tuesday at Karibe Convention Center, the Prime Minister, Laurent Lamothe, in the presence of Charles Castel, Governor of the Bank of the Republic of Haiti (BRH), senior executives of public administration, representatives of the Inter-American Bank development Bank (IDB) and from the International Finance Corporation (IFC) has launched the Credit Information Bureau (BIC), a new State structure, corollaries of the many steps taken by the Government for the recovery of investment and credit in Haiti.

The Head of Government stressed the consequences of the credit crunch on micro, small and medium enterprises, the main drivers of economic growth and job creation recalling that "The average annual rate of foreign direct investment between 2011-2013 was USD 153.59 million against USD 99.67 million for the period 2006-2010, an increase of 54%," despite the almost total absence of credit observed in this key sector of development, that of agriculture, which, according to Laurent Lamothe, represents 25% of Gross Domestic Product (GDP).

For the Prime Minister, the BIC was born of this requirement and will intervene to support the Government's development strategy for the micro, small and medium enterprises.

"This is how we will place ourselves in the virtuous circle of growth, poverty reduction and expansion of the middle class," concluded the Prime Minister, recalling that such an approach will promote private sector development, and strengthen the foundation for a strong and sustainable economic growth, through democratization and expansion of access to Production Credit.

HL/ HaïtiLibre