The U.S. Agency for International Development will help make USD20 million worth of assistance available to small and medium-size businesses in Haiti.
USAID’s Development Credit Authority has recently partnered with two Haitian banks, Sogebank and Sofihdes bank, in a bid to help local SME owners gain better access to the loans they need to rebuild their businesses and credit histories. DCA’s credit guarantee will allow the SMEs’ owners to borrow money with fewer collateral requirements.
With this latest partnership with the two Haitian banks, the DCA has surpassed a USD2 billion milestone in supporting the mobilization of private sector credit in developing countries, a USAID press release notes.
