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Haiti: Proparco is supporting microenterprises and SMEs
Project
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Signature date
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Location
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Haiti
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Financing tool
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Financing amount (Euro)
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3000000
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Financing details
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Loan of approximately 327 million Haitian gourds
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Customer
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Action pour la coopération avec la microentreprise
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Type of customer
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Microfinance
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Country of headquarters
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Haiti
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Project number
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PHT1012
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is supporting ACME, one of the main microfinance institutions in Haiti, via a EUR 3m loan. This loan should provide 27,000 additional people with access to high-quality microfinance products and services and should improve employment and training for Haitians.
Client presentation
ACME is Haiti’s 2nd largest microfinance institution in terms of the number of clients served and the 3rd largest in terms of the size of its loan portfolio. ACME serves over 33,700 clients, who are all microentrepreneurs, via a network of 31 branches nationwide and some 330 officers.
Project description
The project involves the allocation of a senior credit line for the equivalent in USD of EUR 3m to the Haitian microfinance institution (MFI) ACME S.A. (“ACME”) to support the development of its loan portfolio. AFD Group has been supporting ACME since 2004 through the implementation of an ARIZ guarantee, which guarantees its access to local bank refinancing.
This project is part of the 2X Challenge initiative. This multi-stakeholder initiative aims to support projects that empower women as entrepreneurs, business leaders, employees and consumers of products and services, and increase their participation in the economy.
This initiative thus contributes to Sustainable Development Goal #5 (Gender Equality).
Project impact
The project will support the financial inclusion of vulnerable populations in the particularly complicated context of Haiti. On the social front, the project will contribute to employment and training for local communities. We estimate that Proparco’s financing should provide some 27,000 additional people with access to high-quality microfinance products and services.