The project will support Sogesol in increasing its lending to small enterprises in the country, including agri-enterprises in Haiti.
The project is expected to have strong development impact in terms of: (1) supporting the growth of the productive sectors of the Haitian economy by expanding and increasing access to finance to small enterprises. The SME finance forum estimated that the total credit gap in Haiti amounts to almost US$2.5 billion, with 49% of MSMEs reporting that they are either under or unserved by financial institutions. (2) promoting growth in agribusiness, a key economic sector representing 22% of GDP. It is estimated that only 28% of farmers have bank accounts and 19% received a credit for agricultural purposes. (3) strengthening the Haitian financial sector's competitiveness through capacity building, demonstration and replication channels.
ACCOUNTABILITY MECHANISM OF IFC
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/