Port-au-Prince, October 2, 2012—IFC,
a member of the World Bank Group, signed a memorandum with Banque de la
République d’Haïti (Central Bank of Haiti) to help the Haitian financial
and business sectors expand leasing for micro, small, and medium enterprises.
The project will help create jobs for low-income Haitians.
Leasing is a critical financing tool in emerging markets. It helps micro,
small, and medium enterprises access the construction, transportation,
and textile equipment they need to enhance productivity, business volumes,
According to a 2010 IFC-McKinsey study, only half of the leasing and credit
needs of Haiti’s 900,000 micro, small, and medium enterprises are being
met by financial institutions. This estimated $2.5 billion loan-financing
gap is one of the most significant constraints to the development of Haitian
micro, small, and medium enterprises, which employ roughly 80 percent of
the country’s workers and drive private sector growth.
To address this financing gap, IFC Advisory Services, with support from
the Spanish Fund for Latin America and the Caribbean and the Netherlands'
Ministry of Foreign Affairs, will help draft leasing legislation and regulations,
strengthen knowledge about leasing among regulators, and provide early-stage
technical assistance to financial institutions interested in offering leasing
“This partnership with IFC will help increase the type of financial mechanisms
we can provide to Haitian entrepreneurs, enabling them to grow and create
jobs in Haiti,” said Charles Castel, Governor of the Banque de la République
d’Haïti (Central Bank of Haiti).
As part of these efforts, IFC will organize a series of leasing workshops,
in collaboration with the bank, to train government officials, financial
institutions, and small and medium enterprises in technical and market-related
“In Haiti, small businesses urgently need increased access to financing,
and leasing can provide the type of term financing required for these businesses
to purchase equipment and increase their operations,” said Jean-Philippe
Prosper, IFC Director for Latin America and the Caribbean. “In many parts
of the developing world, leasing has unlocked the possibility for small-business
owners to build thriving companies in sectors such as construction, transportation,
services, and agriculture."
IFC’s strategy in Haiti combines investment and advisory services to support
the sustainable development of the private sector. Over more than 35 years,
IFC has supported 234 leasing projects in 60 countries. IFC will apply
this global expertise to help Haiti’s economy and provide jobs as the
country continues to recover from the 2010 earthquake.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.
About the Spanish Fund for Latin America and the Caribbean (SFLAC)
SFLAC is a trust fund established by the Spanish Ministry of Economy and
Competitiveness to provide resources to enhance the impact of the World
Bank Group´s development activities, both analytical and operational in