The International Finance Corporation (IFC) provides $ 1.96 million of the World index insurance program (GIIF) funded by the European Union to ensure the Haitian entrepreneurs against the risk of natural events.

The International Finance Corporation (IFC), a member organization of the World Bank Group, in partnership with the European Union and the Organization MICRO [founded by Fonkoze and Mercy Corps] specializing in micro-insurance against natural hazards, in order to help thousands of micro-entrepreneurs with low incomes, to protect against extreme weather and natural hazards.

This project of $1.96 million, including a grant, based on the results, of $1.7 million and consulting services of 260,000 dollars, funded GIIF, an innovative program managed by the IFC and implemented in collaboration with the World Bank. The GIIF is mainly funded by the European Union, with additional contributions from the Netherlands and Japan.

It will provide micro-entrepreneurs Haitian an insurance at lower cost based on a weather index. Its distribution will be handled by Fonkoze, a leading Haitian microfinance institution. Nearly 70,000 Fonkoze clients, most of whom are women, should be insured over the next three years through this program.

With this innovative product, IFC hopes to contribute to prevent that the major natural events, not negate all the efforts of thousands of Haitian entrepreneurs to get out of poverty.

MiCRO and Mercy Corps are committed to develop innovative solutions that help to be more resilient to natural hazards, indicated Steve Mitchell, Acting Chairman of the Board of MiCRO and Vice President of Financial Services Mercy Corps.

"[...] By working with IFC and our local partners, we can offer an insurance, as necessary, to help the Haitians to initiate economic growth," according to Javier Perez Niño, Ambassador and Head of Delegation of the European Union in Haiti. This project in Haiti is an important step towards the sustainable development of local markets for the insurance, which will help the poorest to protect themselves against the vagaries of nature and the risks of climate change.

See also :

https://www.haitilibre.com/en/news-7734-haiti-economy-insurance-for-micro-entrepreneurs.html

HL/ HaitiLibre