The Clinton Bush Haiti Fund (CBHF), a nonprofit organization created by former US presidents Bill Clinton and George W. Bush to rebuild Haiti following the January 12 earthquake, has announced USD 1 million in new grants aimed at creating new jobs and promoting economic opportunity, including microfinance. An unspecified proportion of the grant will be used to finance the Haiti Emergency Liquidity Program (HELP), which will give recovery grants to “key” microfinance institutions (MFIs), which are defined as those having approximately 50,000 clients or more. HELP will buy “earthquake-affected” loans from MFIs, which will provide them with fresh funds to maintain their lending operations and preserve their capital base. As previously reported by MicroCapital on June 29, 2010, HELP was created by the Inter-American Development Bank (IDB) on June 2, 2010.
By Conner Brannen, Research Assistant
About the Clinton Bush Haiti Fund (CBHF):
Shortly after the earthquake that struck Haiti on January 12, 2010, US President Barack Obama asked former US presidents Bill Clinton and George W. Bush to lead a fundraising effort to assist the people of Haiti to rebuild their nation. The initial efforts of CBHF focused on immediate relief and emergency relief. However, as of June 2010, its focus shifted towards job creation and the promotion of economic opportunity.
About The Haiti Emergency Liquidity Program (HELP):
The Haiti Emergency Liquidity Program (HELP) was created by the Inter-American Development Bank (IDB) on June 2, 2010, to help low-income borrowers affected by the January 12, 2010, earthquake in Haiti. It has received funding from the following four US-based organizations: the Clinton Bush Haiti Fund (CBHF), the Deutsche Bank Americas Foundation, the Calmeadow Foundation and the Calvert Foundation. HELP will buy “earthquake-affected” loans from MFIs, which will provide them with fresh funds to maintain their lending operations and preserve their capital base.
Sources and Additional Resources:
Centre de Facilitation des Investissements Haiti: “Over $1 Million in New Grants From Clinton Bush Haiti Fund to Rebuild Lives & Livelihoods,” July 10, 2010: http://www.cfihaiti.net/j10/index.php?option=com_content&task=view&id=874&Itemid=106
MICROCAPITAL BRIEF: The Inter-American Development Bank’s (IDB’s) Multilateral Investment Fund (MIF) to Provide $2m to Haitian Emergency Liquidity Program (HELP), June 29, 2010: https://www.microcapital.org/microcapital-brief-the-inter-american-development-bank?s-idb?s-multilateral-investment-fund-mif-to-provide-2m-to-haitian-emergency-liquidity-program-help/
MICROCAPITAL BRIEF: Gates Foundation, USAID Offer $15m to Initiators of Mobile Money Services in Haiti, June 11, 2010: https://www.microcapital.org/microcapital-brief-gates-foundation-usaid-offer-15m-to-initiators-of-mobile-money-services-in-haiti/
MICROCAPITAL BRIEF: Citigroup Pledges $1m to Help Rebuild Microfinance Sector in Haiti Following January Earthquake, May 11, 2010: https://www.microcapital.org/microcapital-brief-citigroup-pledges-1m-to-help-rebuild-microfinance-sector-in-haiti-following-january-earthquake/
MICROCAPITAL BRIEF: MasterCard Foundation Provides $4.5m Grant to Haitian Microfinance Institution (MFI) Fonkoze, April 27, 2010:?https://www.microcapital.org/microcapital-brief-mastercard-foundation-provides-45m-grant-to-haitian-microfinance-institution-mfi-fonkoze/
MICROCAPITAL BRIEF: Zafen Begins Funding Microfinance Loans and Donations to Haiti, April 16, 2010: https://www.microcapital.org/microcapital-brief-zafen-begins-funding-microfinance-loans-and-donations-to-haiti/
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