Audit finds US loan program in Haiti flawed

US loan program in Haiti flawed

The Associated PressTuesday, March 5, 2013

An audit of a U.S. Agency for International Department program that aims to boost Haiti’s economy by providing loans to overlooked business has found a range of problems in the effort.

Problems include a failure to train workers, to keep accurate records and to award loans to lenders to the intended targets of women, first-time borrowers and small- and medium-sized businesses.

The audit focused on four active guarantees, all worth $31.5 million.

The USAID loan program effort sought to promote greater lending practices to overlooked borrowers and in the areas of agriculture, construction, tourism, handicrafts and waste management.

USAID said it would follow more than a dozen recommendations, which included working with lenders to improve performance.

The audit was released Feb. 28 by USAID’s Office of the Inspector General.

Read more: http://www.lasvegassun.com/news/2013/mar/05/cb-haiti-loan-audit/#ixzz2MgENeXVS

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