Investing in microfinance to support Haiti's recovery
June 30, 2010
Calvert Foundation has made an initial $300,000 investment to support recovery efforts in Haiti. Partnering with other organizations, including the the Clinton/Bush Foundation, Calvert Foundation is making this investment through a newly created fund called HELP Haiti.
HELP Haiti will breathe new life into the microfinance system in Haiti, providing fresh capital and some flexibility to three microfinance organizations whose pre-earthquake peformances were solid and effective in helping Haitian microentrepreneurs succeed: ACME, MCN, and FINCA Haiti. The new fund will allow these organizations to bolster their capabilities to serve current customers and take on new ones. The fund will also provide technical assistance and training for microfinance organizations and their borrowers. Most importantly, HELP Haiti will help avert a significant reduction in microfinance operations, which will help Haiti's working poor and contribute to recovery and reconstruction efforts.