Fonkoze is Haiti

Haiti

Haiti , officially the Republic of Haiti , is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti was the indigenous Taíno or Amerindian name for the island...

's largest microfinance institution serving poor and ultra-poor women throughout the rural areas of Haiti. It has microfinance institution more than 50,000 borrowers and 250,000 savers. The institution is divided into three entities:

1) Fonkoze, a Haitian non-profit which pilots new programs and branches that are not-yet sustainable and provides services such as health education and literacy training.


2) Fonkoze Financial Services, a Haitian bank which operates most of Fonkoze's financial services portfolio.


3) Fonkoze USA, which seeks support from donors and members of the Haitian diaspora.

History

Fonkoze was started in 1994 by 32 grassroots leaders and it was officially recognized as a foundation by the Haitian government in 1995. Father Joseph Phillippe, a Catholic priest who envisioned a bank that would build economic democracy in Haiti, recruited management consultant Anne H. Hastings to run the organization. At the time, she was applying to the Peace Corps, but a staffer there had another idea. He convinced Anne to send her resume directly to Fr. Philippe. Three days later, she received a message on her voice mail. “This is Fr. Joseph Philippe,” it said, “we are very pleased you have decided to work with us in Haiti. You may be Director of our new bank, Fonkoze. Thank you.” In 2004, Fonkoze joined with Zanmi Lasante, a major Haitian rural health care provider. The two foundations collaborated to build a bank and hospital in Boucan Carre. In 2009, Fonkoze held a major conference on the effects of the current recession on Haitians and Haitian-Americans.