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Ray Escoffier
How did a quiet electrical engineer and amateur paleontologist from Virginia decide to embark on such a journey? Ray first became introduced to Haiti in the mid-1990s through the Richmond Diocese twinning program which works to “twin” or partner parishes in the US with Haitian parishes, hospitals, schools, and even microfinance institutions (MFIs) like Fonkoze for development purposes. In addition, Ray learned about microcredit through an article written by Dr. Mohammad Yunus, the founder of the Grameen Bank, in Scientific American in 1999.
Ray was intrigued by the potential of microfinance. “Giving to people is one thing, but helping them help themselves is another. I’m interested in giving people the opportunity to develop their own talents.”
Ray began conversing with Anne via email to learn more about Fonkoze and how he could get involved. In addition to making several donations over the years to Fonkoze, Ray decided one way to have a big impact would be to facilitate an exposure visit to larger MFIs in the Philippines and Bangladesh to learn how these institutions grew and evolved over the years. “It was something unique that I could help Fonkoze with.”
In April 2004, Ray, Anne, and Johnny traveled to the Philippines to visit CARD, a microfinance institution that comprises both an NGO (non-governmental institution) and a bank. CARD NGO began its microfinance program in 1989 when it adapted the Grameen Bank lending methodology. In September 1997, the Central Bank of the Philippines granted CARD the license to operate a rural bank. The NGO continues to “incubate” new branches that eventually move into the bank. Together, they are reaching more than 115,000 clients through their network of 72 branch offices.
Fonkoze is interested in learning from the experience of CARD since it is in the process of forming Haiti’s first microcredit-oriented licensed bank – Bank Fonkoze. Bank Fonkoze will focus on providing financial services, including credit, savings, money transfer and currency exchange, to thousands of rural Haitians. Like CARD NGO, Fonkoze will continue to exist and will serve as an “incubator” for new branches that reach even more rural areas. In addition, it will continue to provide literacy and business skills training, pilot test new products, and promote small business development and employment creation in rural Haiti.
The Fonkoze delegation attended an intensive, 5-day course that included lectures, discussion, exposure visits to the field, and extensive dialogue with CARD leadership at the CARD Training Center in Laguna, Philippines. Two other Filipino institutions participated in the course, which enhanced tremendously the learning that occurred.
Ray was moved by the whole experience. Anne was equally impressed. “Ray's financing of our trip and especially his accompanying us to the Philippines shows so well the dedication our partners have to Fonkoze, our staff and our clients. It was a tremendous opportunity for Johnny and me. Ray is helping us to become a true ‘learning institution.’ Our job now is to take all that we learned and ensure that everyone in Fonkoze can learn from it.”
After a week in the Philippines, Ray returned home to the U.S. and supported Anne and Johnny’s trip to Bangladesh where they visited three other microfinance institutions: Grameen Bank, BRAC, and ASA. At these institutions, they met with staff and clients and learned about diverse programs such as the Grameen cell phone project, programs targeting the ultra-poor, educational scholarships for the children of borrowers, and legal rights courses, among other exciting topics.
For Anne, “our trip was like a dream come true. Three years ago I learned about CARD forming a commercial bank but continuing to incubate new branches through the nonprofit, and we adopted that model for Fonkoze. Visiting there gave us a chance to see how it is really working and with what results. It was truly inspiring. And of course, visiting Grameen, from whom we have learned so much over the years, was like visiting family.”
Some of the exciting programs that Fonkoze learned about and is exploring adding to its own growing suite of services include microinsurance products (such as life insurance, loan insurance, disability insurance, pension funds) to promote and protect the welfare of our clients and their families, as well as an expanded educational program including microenterprise training, social awareness, human rights and legal education.