Haiti - Economy : Partial guarantee fund of one billion gourdes for agriculture and export
On November 20, the signing ceremony of a memorandum of understanding took place between Jean Baden Dubois the Governor of the Bank of the Republic of Haiti (BRH), Michel Patrick Boisvert the Minister of the Economy and Finance (MEF) and Édouard Clément Director General of the Industrial Development Fund (FDI), concerning a partial guarantee fund of one billion gourdes.
In his speech, Minister Boisvert clarified that this partial guarantee fund (credit) created by the Government was intended for agriculture and export-oriented companies.
Governor Dubois underlined that this fund followed circular 113 on the granting of credit with an interest rate of 6% over a very long period. Explaining that this fund will be managed by FDI in order to deal with issues of microfinance institutions ranging from 50 to 65% of the requested amount.
For his part, the CEO of the FDI, Édouard Clément explained that the individual guarantees and portfolio guarantees are the two main guarantees retained by the FDI. For individual guarantees, the maximum amount of a borrower in Gourdes will be the equivalent of 500,000 US dollars. For portfolio credit, the maximum amount of guarantee per borrower in a group will be the gourdes equivalent of 50,000 US dollars.
