Building a microfinance industry : PRET/FINNET in Haiti
Duval, Anne
The note illustrates a case study of USAID support to the microfinance sector in Haiti, 1995 - to the present: the story of a donor that recognized opportunity, was flexible, took risks, and invested the time and resources needed to build a microfinance industry. Interest rate ceilings were intended to protect low-income people, but in fact they made it impossible for them to get credit. An explosion in micro-credit may be predicted when ceilings' removal occur, which is what determined future success. Initially, the vision was to move away from subsidy, because it was predictable enough margin to do microfinance profitably would occur, though the great impact was not anticipated.
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