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Haiti Integrated Finance for Value Chains and Enterprises (HIFIVE)

Photo: Haitian woman spreading nuts

Description

HIFIVE Resources:

HIFIVE is part of USAID/Haiti's integrated strategy to develop the country’s financial services sector in a way that promotes employment generation, improves livelihoods, and boosts the economy. HIFIVE’s activities specifically focus on improving the availability of financial products and services to support the expansion of agriculture and other production, as well as access to financial services for communities in rural and agricultural areas. HIFIVE works primarily on the supply side of the financial sector. It also encourages use of information and communication technologies (ICTs), diaspora investments and an increased developmental impact from remittances.

The core of the program is the HIFIVE Catalyst Fund (HCF), a $22.5 million grant pool to increase financial services in rural and agricultural zones. These targeted grants promote innovation and experimentation in development of technology solutions, capacity building, financial services and products, and risk mitigation. Following the January 12, 2010 earthquake, HIFIVE also has responded by prioritizing those areas that were mostly heavily affected, and initiating activities to help damaged businesses get back on their feet and restart the Haitian economy.

Project Updates and Achievements

The HIFIVE Catalyst Fund (HCF):
HIFIVE uses the HCF to implement activities contributing to its strategic objectives. HCF has 66 grants that have been approved and contracted, totaling $15 ($11.7 million disbursed as of March 2013).  Of the 66 grants, 8 are structured as public private partnerships. The grants have been used to support a large variety of activities that further HIFIVE objectives:

  • 37 grants directly support value chain finance and rural expansion of financial services1
  • 14 grants support ICT improvements that will expand financial inclusion/client outreach
  • 6 grants supporting HMMI objectives
  • 7 MFI Earthquake Recovery and Stabilization grants
  • Others: risk mitigation, 3; capacity building: 6
  • 5 grants supporting market information development
  • 18 grant proposals in the pipeline, valued at $8.6 million, including 3 pending approval at USAID (value: 2 million).

During its first three years, HIFIVE has produced extraordinary results in pursuit of its objectives.  These results were achieved despite the damage, delays and complications caused by the earthquake of January 2010.  Highlights of these results include:

  • 27 financial institutions newly engaged in value chain finance
  • 28,665 microenterprises receiving value chain finance
  • 30,062 microenterprises participating in USG assisted value chains
  • 53 new value chain solutions introduced
  • 28,868 MSMEs receiving USG-assistance to access bank loans
  • 357 traditional points of financial services available from reporting institutions; 384 mobile money outlets
  • 442,665 rural clients
  • 98 financial products and services newly available in rural areas
  • $96,820,997 in savings deposits
  • $163,398,891 in loan portfolio of reporting MFIs
  • 1,301,567 clients served due to an ICT intervention2
  • $13,389,386 in agricultural loans


[1] Some grants contribute to multiple objectives and activities. For example, a grant may provide support to a specific project (risk mitigation) as well as support the availability of new products and services in rural zones.

[2] This number reflects the highest number of registered users of mobile money services as reported by the providers of these services.  The current level of registered users has declined from the highest level, with additional fluctuations expected as the merger of Voila and Digicel is completed.

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