iciHaiti - World Bank: Presentation of the report on urbanization

iciHaiti - FIFA U-20 World Cup : A decisive match for our Grenadières

iciHaiti - Social : 2nd edition of the Carnival of Croix-des-Bouquets

iciHaiti - Football : Frantzdy Pierrot will start a career in MLS

iciHaiti - FLASH : 11 DJs at pre-carnival activities this Sunday


more news


Haiti - Agriculture : Jovenel gives 40 rice mills to farmers of Artibonite

Haiti - DR : 930 Haitians arrested in 24 hours in the Province of Samaná

Haiti - FLASH : More than 400 schools suspected of fraud, threatened with sanctions

Haiti - Politic : 3 million Haitians are not registered in the national registers

Haiti - Sports: Opening of the 2018 School Games


more news


Haiti - Economy : $20 million for businesses
06/10/2010 12:56:27

Haiti - Economy : $20 million for businesses
The Inter-American Development Bank announced a grant of 20 million to help Haiti establish a partial credit guarantee fund to facilitate the restructuring of loans to businesses affected by the Jan. 12 earthquake.

The program, which will be run by the Banque de la République d’Haïti’s Industrial Development Fund, will enable banks and credit unions to restructure loans and provide additional financing to viable companies that suffered damages or losses due to the earthquake and face difficulties in servicing their current loans.

Estimates of loans impaired by the earthquake range in the hundreds of millions of dollars. By aiding in the restructuring of such loans, the Haitian central bank would prevent more borrowers from going into liquidation, reduce capital losses for lenders and assist the country's economic recovery.

Under the program, commercial lenders will request partial credit guarantees from the Industrial Development Fund for eligible restructured loans. The program will initially focus on loans under $1 million, in order to facilitate the restructuring of financing for small and medium-size companies.

This program reflects the IDB's strategy of promoting private sector investment and job-creation in Haiti by expanding access to credit. Through a program launched by its Multilateral Investment Fund (MIF), the IDB is relieving Haitian microfinance institutions of earthquake-impaired microcredit portfolios. The IDB's Inter-American Investment Corporation (IIC) is working on a new social financing fund aimed at SMEs.

The IDB is also providing Haiti tens of millions of dollars in grants to repair key infrastructure, such as its roads network and its electricity system, and to rebuild or expand industrial parks. In addition, the IDB is advising the Haitian government on improving business conditions and assisting its efforts to attract foreign investment in manufacturing, agriculture and tourism.

In preparing the partial credit guarantee program, the IDB worked closely with Haitian authorities and with officials from the World Bank and the U.S. Department of Treasury. The Haiti Reconstruction Fund is contributing $12.5 million to the program and World Bank is providing $2.5 million.

See also :
http://www.haitilibre.com/en/news-1345-haiti-economy-creditre-establishment-in-haiti.html

BF/ HaitiLibre

Twitter Facebook Rss Add to favorites
Send news to... Daily news...




Why HaitiLibre ? | Contact us | Français
Copyright © 2010 - 2018
Haitilibre.com