The Clinton Bush Haiti Fund (CBHF), a US-based nonprofit organization, will provide a grant of USD 850,000 to Fonds Haïtien d’Aide à la Femme (FHAF), a Haitian microfinance institution (MFI), to help reinvigorate its lending operations. FHAF and other MFIs in Haiti have been profoundly affected by the January 2010 earthquake there, which destroyed offices and necessitated substantial loan write-offs.
FHAF plans to use an unspecified amount of the funding to recapitalize its loan portfolio, allowing the MFI to continue lending to Haitian women. Other uses of the grant will include technological investment and human capacity development, wherein FHAF will hire new staff and provide training programmes for older employees.
As of August 2011, FHAF does not make its financial data available via the US-based nonprofit Microfinance Information Exchange (MIX) or other sources. As of May 15, 2011, CBHF reports having received USD 53 million in donations since its founding in 2010.
By Rohan Trivedi, Research Associate
About The Clinton Bush Haiti Fund (CBHF):
The Clinton Bush Haiti Fund (CBHF) is a US-based nonprofit organization. Shortly after a major earthquake 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 in rebuilding. Although the initial efforts focused on emergency relief, as of 2011, its focus has shifted towards job creation and the promotion of economic opportunity. As of May 15, 2011, CBHF has received USD 53.8 million in donations.
About Fonds Haïtien d’Aide à la Femme (FHAF):
FHAF is a microfinance institution (MFI) operating in Haiti. FHAF was established in 1983 through a loan guarantee program from Women’s World Banking, a US-based network of microfinance providers. As of August 2011, financial data on FHAF is not available from standard sources such as the US-based nonprofit Microfinance Information Exchange (MIX).
Sources and Additional Resources:
[1] CBHF Press Release: “Clinton Bush Haiti Fund Grant Strengthens Female-Run Businesses in Haiti”, http://www.clintonbushhaitifund.org/news/entry/clinton-bush-haiti-fund-grant-strengthens-female-run-businesses-in-haiti/
MicroCapital.org story, June 21, 2011: “MICROCAPITAL BRIEF: Microfinance Institution (MFI) Fonkoze Initiates Claims Process for Clients Affected by Heavy Rains in Haiti”, https://www.microcapital.org/microcapital-brief-microfinance-institution-mfi-fonkoze-initiates-claims-process-for-clients-affected-by-heavy-rains-in-haiti/
MicroCapital Universe Profile: Clinton Bush Haiti Fund (CBHF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Clinton+Bush+Haiti+Fund+%28CBHF%29
MicroCapital Universe Profile: Fonds Haïtien d’Aide à la Femme (FHAF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fonds+Haïtien+d’Aide+à+la+Femme+%28FHAF%29
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