Fonkoze, Haiti’s largest microfinance institution, is another good example of integrating microfinance with other services such as medical treatment, remittances, empowerment, insurance against risk and natural disasters, health insurance, and in particular, education to help improve clients’ situations and contribute to the overall economy. Fonkoze was founded by Father Joseph Philippe in 1994, when Haiti was in the midst of struggling for freedom and equality, with the goal of providing Haitians with the means to develop themselves economically.
As a result, the foundation devoted itself to delivering microfinance and related educational services to the most economically disadvantaged of Haiti—mostly women.
The organization believes that education is the cornerstone of economic democracy.
Since 52 percent of the Haitian population and over 60 percent of Fonkoze’s clients are illiterate, Fonkoze offers literacy and educational programs in their 250 literacy centers throughout Haiti.
Their programs consist of four modules: two on reading and writing, one on business skills, and one on sexual and reproductive health issues. Fonkoze is working on developing new additional programs to focus on human rights and environmental protection. By March 2005, Fonkoze had trained 22,000 individuals to read and write.22 These education programs, coupled with the many microfinance products that Fonkoze offers, we believe will provide clients with more knowledge, confidence, and tools to help them overcome all dimensions of the poverty that affects them.
Microfinance: A Platform for Social Change by Marge Magner March 2007 Grameen Foundation
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Grameen Foundation
(Visit Grameen's Website)
Grameen Foundation's mission is to empower
the world's poorest people to lift
themselves out of poverty with dignity
through access to financial services and
to information.
With tiny loans, financial services and
technology, we help the poor, mostly
women, start self-sustaining businesses to
escape poverty. Founded in 1997 by a group
of friends who were inspired by the work
of Grameen Bank in Bangladesh, our global
network of microfinance partners reaches
over 3.6 million families in 25 countries.
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