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IFC to launch $1.96 millio insurance program in HAITI
Publish Date : 29-Jan-2013
Next week, a division of the World Bank, the International Finance Corporation will launch a $1.96 million project targeting to help thousands of low-income entrepreneurs in Haiti protect their livelihoods against natural disasters.
This announcement came out on Friday. Further details will be disclosed in this week.
The program is very much essential, says IFC. Out of Haiti’s 10 million population, only 0.3 percent have some form of insurance, which accounts to the world’s lowest rates.
Basically, small entrepreneurs are very much as a risk of uninsured losses, and can default on debts and be disqualified from future loans at the time when they require funds to recover.
Over a period of the next three years, the insurance which is aimed at helping nearly 70,000 people, will be distributed through the Haitian microfinance institution Fonkoze.
