IDB approves $11 million grant to Haiti for business development services

WASHINGTON, USA — An $11 million grant from the Inter-American Development Bank (IDB) to Haiti will support a program to provide business development and training services to micro, small and medium-size enterprises (MSMEs) to expand their access to credit, strengthen their management, and boost their productivity.

By some estimates there are some 10,000 small and medium-sized businesses with more than 10 and fewer than 100 employees in Haiti. Microenterprises, which employ fewer than 10 workers, number about 375,000.

Small enterprises typically face obstacles to obtain loans in Haiti, where the financial system has focused on the opposite ends of the potential client range: corporate borrowers with formal financial records, and informal entrepreneurs who rely on short-term microcredit.

Read more: http://www.caribbeannewsnow.com/haiti.php?news_id=7293&start=0&category_id=2

Also read about IDB approves grants to electricity sector and industrial park in Haiti. http://www.caribbeannewsnow.com/haiti.php?news_id=7175&start=0&category_id=2
…The new, fast-disbursing grant is the first of three policy-based operations the IDB expects to make over three years to help Haiti develop a reliable and sustainable electricity system. At present, about 70 percent of its population has no access to electricity. In areas with coverage, service averages 10 hours a day but is plagued by outages. Available generation capacity stands at less than one-third of the estimated 500 megawatt demand.

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About fromourisland

Gardener, knitter, wife, mother of 2, grandmother, and lots more.
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