FINCA Haiti S.A. (“FINCA”)
The objective of the proposed loan is to support the lending activities of FINCA Haiti, which provides working capital financing to the lowest-income entrepreneurs so they can create jobs, build assets, and improve their standard of living. These entrepreneurs are the owners of micro and small enterprises in Haiti working in a variety of productive sectors, especially commerce, industry, services, and agribusiness. Financing on appropriate terms will make it possible to generate direct and indirect employment and improve the financial structure of these small companies, which have limited access to affordable financing. FINCA’s strategy in Haiti is to focus operations on underserved markets and groups, especially rural areas and women.
Environmental and Labor Issues:
This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered low-risk. FINCA Haiti has endorsed the Smart Campaign principles and follows a number of policies and procedures to ensure compliance with the core criteria of the Smart Campaign. All FINCA staff is held to a written code of conduct. FINCA Haiti will be required to comply with the IIC’s List of Excluded Activities and retain on its staff a person who is responsible for monitoring the environmental and labor aspects of projects. Each subproject will be subject to an environmental review and must comply with national environmental and labor laws, regulations, and standards as well as IIC environmental guidelines.