BUH Haiti (IFC-39665)

  • Haiti
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 25, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 27, 2018

Disclosed by Bank May 24, 2018

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Project Description

According to the International Finance Corporation (IFC), the project hopes to address the credit gap in Haiti which the Small and Medium Enterprise (SME) Finance forum estimates amounts to almost US$2.5 billion, with 49% of Micro-, Small, and Medium Enterprises reporting that they are under or unserved by financial institutions. 

The specific objectives of this project are twofold: 

  1. Institutional capacity building and strengthening of the financial system in Haiti by supporting a promising financial intermediary through an investment and advisory program focusing on improving risk management, corporate governace, and SME lending practices
  2. Support the growth of the productive sectors of the Haitian economy by expanding and increasing access to finance to serced and underserved businesses, focusing on SMEs. 

The IFC will play several roles in the project to accomplish their stated goals:

  1. Local currency funding: the IFC will provide a 4-year senior loan in local currency to support SMEs.
  2. Mobilisation: the IFC will help the Banque de l'Union Haitienne address the need for long-term funding to support its growth strategy in SME lending by mobilising a portion of the total project size. 
  3. Technical/Industry expertise: the IFC will share its global expertise, international best practices and knowledge in SME banking and risk management with the Banque de l'Union Haitienne.


Early Warning System Project Analysis

The bank has rated this project FI-2 which corresponds to a B rating or medium risk.

Investment Description
  • International Finance Corporation (IFC)

The project will be supported by the Global Small and Medium Enterprise (SME) Finance Facility which is a partnership with the UK Department for International Development and the Government of the Netherlands.

The total project cost is up to US$10 million equivalent, with up to US$5 million for IFC’s own account and up to US$5 million from mobilized funds. At the time of writing it remained unclear where the mobilized funds would come from. 

Private Actors

Banque de l'Union Haitienne (BUH) is headquartered in Port-au-Prince, Haiti. The Bank operates with a network of 14 branches in 6 provinces across the country.

Banque de l'Union Haitienne was established in 1973 as the first private commercial bank in Haiti. The Bank has been under the oversight of the Central Bank since 2006 due to weak asset quality and performance and in 2013, a controlling stake was acquired by a consortium of investors led by the leading insurance company in Haiti, AIC. BUH’s largest shareholders are AIC (20%), Deeb Group (9%), Hinoto S.A. (7.8%) and Handal Group (7.8%).  

Contact Information


Mackensen Gomez 
Chief Executive Officer 
+509 3462 3630 
20 Rue Villate, Petion-Ville, Haiti 


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/