In a note, Jean Baden Dubois, Governor of the Bank of the Republic of Haiti (BRH) advises investors, entrepreneurs and the general public that it has taken a series of measures aiming at promote credit development in certain productive sectors.

"These new provisions have resulted in the issuance of circulars to Banks and Development Finance Companies and signatories of Memorandum of Understanding establishing the modus operandi of financial incentives to the agricultural sector, investment in free zones and Export-oriented production activities."

Taken measures :

• Signature of a Memorandum of Understanding with the Industrial Development Fund (FDI) and the Société Financière Haïtienne de Développement S.A (SOFIHDES) on the establishment of a program to facilitate the financing of export enterprises ;

• Signature of a Memorandum of Understanding with FDI and SOFIHDES relating to the setting up of a window for the refinancing of accounts receivable related to exports of goods and services ;

• Publication of Circular 106-1 granting a preferential banking credit scheme to investments in free zones. This circular :

  • Exempts banks from the obligation to compulsory reserves on gourde resources collected from the public and used for credit purposes in free zones ; and

  • Provides banks with a program to finance free zone infrastructure, with a view to stimulating investment in this sector of the economy.

• Publication of Circular 108 authorizing banks not to establish compulsory reserves on gourde resources used for agricultural credit to reduce credit costs related to this sector

Entrepreneurs interested in these new facilities are invited to contact their financial institutions.

HL/ HaitiLibre