Global Partnerships (GP), a nonprofit organization that supports microfinance institutions in Latin America, recently announced that it has teamed up with Haitian microfinance institution (MFI) Fonkoze and US-based Linked Foundation on a project aimed at improving women’s health in Haiti. The initiative involves designing a low-cost, financially sustainable package of health services and education that will address the health concerns of Fonkoze’s client base, which is made up entirely of women. The project target is to reach 50,000 Fonkoze clients over the next three years. The budget of the project has not been disclosed.
Fonkoze Director Carine Roenen said, “In 2010, 15 percent of the poor market women served by Fonkoze left our program because of expenses related to health issues…For years our clients have asked us to provide them with health services. Working with Global Partnerships and Linked Foundation will allow us to start responding to that request and reduce our clients’ vulnerability to disease and health-related economic shocks. It’s like a dream come true.”
As of June 2011, GP had USD 36.2 million invested in 30 microfinance institutions that serve approximately 972,000 borrowers in eight Latin American countries.
As of 2010, Fonkoze reported total assets of HTG 1.35 billion (USD 33.9 million), a gross loan portfolio of HTG 462 million (USD 11.6 million), approximately 50,500 borrowers and 234,000 depositors.
As of 2010, Linked Foundation reported total assets of USD 7.69 million and a net income of USD 289,000. It disbursed USD 520,000 in grants and contributions during 2010.
By Kristha Abores, Research Associate
About Global Partnerships (GP):
Established in 1994, Global Partnerships (GP) is a US-based nonprofit organization that supports microfinance institutions in Latin America via a microfinance investment fund strategy. The company has staff based in Seattle, Washington, and Managua, Nicaragua. As of June 2011, GP had USD 36.2 million invested in 30 microfinance institutions that serve approximately 972,000 borrowers in eight Latin American countries. It has three active microfinance investment vehicles (MIVs): Global Partnerships Microfinance Fund 2006 (MFF 2006), Global Partnerships Microfinance Fund 2008 (MFF 2008) and Global Partnerships Social Investment Fund 2010 (SIF 2010).
About Linked Foundation:
Based in the US state of California, Linked Foundation is a private foundation that works to advance “the development of holistic approaches which combine microfinance with health targeted to very poor women in Latin America.” The Linked Foundation invests in initiatives that strengthen an institution’s ability to deliver high quality and cost effective health interventions through its microfinance structure specifically in reproductive health, family planning and children’s health. As of 2010, Linked Foundation reported total assets of USD 7.69 million and a net income of USD 289,000. It disbursed USD 520,000 in grants and contributions during 2010.
About Fonkoze:
Fonkoze was established in Haiti in 1994 with the mission of “building the economic foundations for democracy in Haiti by providing the rural poor with the tools they need to lift themselves out of poverty.” Fonkoze is comprised of three institutions: Fonkoze, Fonkoze Financial Services (FFS) and Fonkoze USA. Fonkoze is a nonprofit microfinance institution that opens and builds new branches. FFS is a commercial MFI that expands the branches established by Fonkoze. Fonkoze USA channels financial and technical support to its Haitian partners. As of 2010, Fonkoze reported total assets of HTG 1.35 billion (USD 33.9 million), a gross loan portfolio of HTG 462 million (USD 11.6 million), approximately 50,500 borrowers and 234,000 depositors.
Sources and Additional Resources:
[1] Global Partnerships Press Release: “Global Partnerships partners to improve women’s health in Haiti,” http://www.globalpartnerships.org/sections/newsinfo/newsinfo_nr_haiti_partnership.htm
MicroCapital.org article, October 23, 2011, “MICROCAPITAL BRIEF: Global Partnerships Lends $1.2m to Microfinance Institutions Pro Mujer, Café y Desarrollo of Mexico, Fundación Campo of El Salvador,” https://www.microcapital.org/microcapital-brief-global-partnerships-lends-1-2m-to-microfinance-institutions-pro-mujer-cafe-y-desarrollo-of-mexico-fundacion-campo-of-el-salvador/
MicroCapital.org article, June 21, 2011, “MICROCAPITAL BRIEF: Microfinance Institution (MFI) Fonkoze Initiates Claims Process for Clients Affected by Heavy Rains in Haiti,” https://www.microcapital.org/microcapital-brief-microfinance-institution-mfi-fonkoze-initiates-claims-process-for-clients-affected-by-heavy-rains-in-haiti/
MicroCapital Universe Profile: Global Partnerships, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Global+Partnerships
MicroCapital Universe Profile: Linked Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Linked+Foundation
MicroCapital Universe Profile: Fonkoze, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Fonkoze
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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