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Haiti,Luxembourg : EIB inked EURO 3m loan deal with ACME to help micro-borrowers & Hurricane Matthew-hit people in HAITI
Publish Date : 26-May-2017
The European Investment Bank (EIB), the European Union's nonprofit long-term lending institution, has accomplished the signing of a EURO 3 million (around 230 million Gourdes) worth of loan agreement with Action for the Cooperation with Microenterprise (ACME in French).
The bank, the Luxembourg-based world's largest multilateral public donor, has agreed the loan deal in order to extend access to financial supports for the rural micro-borrowers, and also for the people living in the areas which have faced the devastation of the Hurricane Matthew.
Through the newly approved line of credit from the EIB, it will be possible to finance as many as 20,000 micro-loans in Haiti and deliver the poor residents of the country with access to credit facilities.
As part of the Caribbean and Pacific Impact Financing Facility (MFICP), the new EIB loan has been settled.
The MFICP, a 40 million worth of lending facility, is aimed at bolstering the microfinance market segment involving the countries in Africa, as well as in Caribbean and Pacific regions in order to alleviate poverty.
This loan will enable ACME to enlarge its customer base, concentrating mainly on the requirements of the micro-borrowers, who have been hit by the Hurricane Matthew.
Speaking after the signing ritual, the EIB VP Van Ballekom asserted, "The EIB's increased support to microfinance institutions in the Caribbean region demonstrates our commitment to helping the most vulnerable people access financial services to provide better opportunities for the people of urban and rural areas. Private sector development is key to rebuilding communities after natural disasters and today's loan agreement will be part of the reconstruction project in Haiti [...]".
The partnership between the bank and ACME first started in the year 2011 via the signing of a EUR 3 million worth of credit facility to assist Haiti come out of the impacts of the 2010 earthquake.
The ACME CEO Sinior Raymond emphasized, "6 years later, in the post-Matthew ontext, this new EIB loan will enable ACME not only to continue to better fulfill its mission but also to contribute to the relaunch of the economic activity in the most affected regions."
