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Dr. Rosemary Edwards
Dr. Rosemary Edwards is not afraid of challenges. She is an avid outdoor enthusiast who enjoys backpacking, biking, fishing and kayaking. She has traveled to Haiti on numerous occasions, often during periods of political instability. She is also rising to the challenge of alleviating rural poverty in Haiti by investing in Fonkoze USA’s loan fund.
Rosemary first heard of Fonkoze through the Pittsburgh Regional Haiti Solidarity Committee, a group set up to create broader awareness of Haiti as well as to serve as a channel for people in the area to get involved with supporting Haiti. In addition, she met several Fonkoze employees who were studying under a scholarship program at Duquesne University. Rosemary was so intrigued by Fonkoze that she enrolled in a course on sustainable development that included a discussion of microfinance at Duquesne University.
Rosemary decided to get involved with Fonkoze because she believed that capital, and the lack of it, was one of the missing pieces in Haiti’s struggle for development. In her eyes, Fonkoze fills that gap by providing much needed capital to the poor and allowing them to decide how best to invest that capital. As a result, Rosemary invested in Fonkoze’s loan fund in 2003.
Fonkoze USA’s loan fund gave Rosemary the opportunity to invest in a socially responsible manner in an organization that she believed was improving the lives of the rural poor in Haiti.
When asked about her perception of the riskiness of her investment, she replied, “I think it’s a low risk investment based on the track record of Fonkoze.” Today, Fonkoze’s repayment record is the envy of commercial banks worldwide. As of December 2003, out of 25,000 loan clients and $2.7 million in loans outstanding, less than 1% were overdue more than 1 day!! Who says the poor can’t repay their loans?
Rosemary was also interested in investing in the women of Haiti. “I have a soft spot for the women of Haiti. I see them struggle with issues such as money, raising children, and a whole other range of issues that we women in the US don’t have to deal with. I wanted to be able to give the women of Haiti a chance.” Over 96% of Fonkoze’s clients are women who are, as stated by founder, Father Joseph Philippe, “the backbone of the economy of Haiti.”
In addition, Rosemary believes that people in Haiti, such as Fonkoze’s staff, take huge risks as they work to give clients the tools they need to improve their livelihoods. To her, investing in their work seemed relatively low risk in comparison. “The people of Haiti inspire me. You can’t help but want to help them.”
Rosemary is a native of Alabama but has spent much of her time in Pittsburgh, Pennsylvania. She has traveled numerous times to Haiti, most recently in February 2004 when she worked with the Peasants Association of Fondwa, a partner of Fonkoze USA located in the mountains in the Southeast part of Haiti, on an educational and training program designed to help health promoters better diagnose and treat anemia. Dr. Edwards is a pathologist and currently lives near Pittsburgh with her two sons.