Haiti - Agriculture : $3.3 million from Canada to consolidate the bases of agricultural financing
On March 27 at the premises of the Industrial Development Fund (FDI) in the presence of Jean Baden Dubois, the Governor of the Bank of the Republic of Haiti (BRH) and technical and financial partners of the project Financing and Agricultural Insurance System in Haiti (SYFAAH), The Canadian Embassy announced the decision of the Canadian Government to transfer remaining funds (CAN $ 3.3 million) to the IDF Farm Loan Guarantee Fund Program coming from a surplus of agricultural guarantee and crop insurance funds from the SYFAAH project that allowed to laid the groundwork for an agricultural credit system in Haiti for the benefit of small producers since 2011.
This transfer of resources and know-how will contribute to the institutionalization of the agricultural guarantee mechanism designed and implemented within the framework of SYFAAH. They aim to consolidate the foundations of agricultural finance, to attract more financial institutions to agriculture and to support the Government of Haiti's initiatives to deploy a financing system across the country that can be a real vehicle for agricultural development.
In his speech, Governor Jean Baden Dubois declared "The BRH is committed to remaining proactive in the process, playing a central role in consolidating the mechanisms developed in the accompaniment of SYFAAH. He also announced that the BRH has already begun the process of supporting improved governance of the FDI through, inter alia, on-site and off-site supervision in the same way as other financial institutions.
