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Fonkoze: The Foundation
Fonkoze, the Foundation, is a Haitian non-profit microfinance institution on the cutting edge of the delivery of rural financial services. It opens and incubates new branches, nurturing them to profitability, while at the same time developing and testing new products, providing educational programs for all Fonkoze clients and measuring the progress clients are making in lifting themselves out of poverty.It currently has four main programs:
- Adult education and training -- Fonkoze attacks illiteracy in Haiti through its pioneering educational program that combines basic literacy training with practical education in subjects such as business development, sexual and reproductive health, and effective use of financial services. Click here to download a detailed profile of our literacy program.
- Social Impact Monitoring -- Fonkoze evaluates the poverty level of each and every client upon entry into the solidarity loan program. Click here to view exciting preliminary 2008 analysis.
- Branch Incubation -- Fonkoze “incubates” new branches that reach even more rural locations and even poorer populations. Once the foundation has nurtured a branch to profitability, Bank Fonkoze will purchase the branch from the foundation so it can continue to open more branches.
- Development of Innovations in Rural Microfinance Delivery -- The foundation also develops and tests innovative financial products that fit the needs of rural Haitians. These products might be as diverse as micro-insurance (Click here to visit our partner, AIC, in offering insurance to our clients), shelter financing, or mini-loans to get the poorest started in business.