Programs: H.E.L.P.
Facts
Announced:
July 7, 2010
Category:
Promoting Job Growth & Economic Opportunity
Grant Amount: $250,000
Disbursed to Date: $150,000
Grant Objective:
To inject liquidity into key micro-finance institutions.
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H.E.L.P. assists Haitians like this woman who runs her own small business.
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A rural borrower displays products sold at her small business.
The Clinton Bush Haiti Fund contributed $250,000 to launch the Haitian Emergency Liquidity Program (H.E.L.P.), designed to inject needed liquidity into key microfinance institutions (MFIs) in Haiti. This catalytic grant will provide key recovery grants to major Haitian microfinance institutions, which will allow them to remain operational, potentially aiding up to 50,000 borrowers.
In addition to these recovery grants, H.E.L.P. will help to stop the contraction of lending by microfinance institutions (MFIs). H.E.L.P. will buy up the loans affected by the earthquake, provide funds to these institutions, and allow them to preserve their capital base. The program will support businesswomen and rural borrowers who depend on these microloans to survive. The project had an initial budget of $2 million, which represented 12.5 percent of the capital in the microfinance institution sector in Haiti.
To date, the HELP facility has engaged two microfinance institutions and is continuing its search for others. The solidification of the facility's operations has progressed slower than expected due to legal work and the need to negotiate individually with MFIs, however the facility expects to be able to disburse up to $1 million in the coming weeks.
Why We Invested in H.E.L.P.
Clinton Bush Haiti Fund's catalytic grant to H.E.L.P. reflects our commitment to supporting the restart and expansion of small businesses — as well as filling near-term gaps that lay the foundation for long-term reconstruction.
Transforming Lives and Livelihoods
This catalytic grant from the Clinton Bush Haiti Fund will:
- Provide key recovery grants to major Haitian microfinance institutions, which allows them to remain operational, potentially aiding up to 50,000 borrowers.
- Stop the contraction of lending by microfinance institutions by buying up the loans affected by the earthquake, providing funds to these institutions, and allowing them to preserve their capital base.
- Support businesswomen and rural borrowers who depend on these microloans to survive.
About H.E.L.P.
The Haitian Emergency Liquidity Program (H.E.L.P.) is an initiative created by the Multilateral Investment Fund of the Inter-American Development Bank (IDB), the Clinton Bush Haiti Fund, and various key partners to ensure the availability of microcredit in Haiti. The project had an initial budget of $2 million, which represented 12.5 percent of the entire capital in the microfinance institution sector in Haiti.
