Fonkoze/American Jewish World Service

Fonkoze is Haiti’s “alternative bank for the organized poor”, working to promote democracy in Haiti through economic development. Fonkoze is a membership organization with a proven track record of supporting the rural poor through micro-lending to women borrowers. Fonkoze serves the very poor — 72% of its members were living on under $2 per day before the earthquake. Fonkoze’s clients cannot afford to rebuild their homes and would be permanently reduced to even deeper poverty and ongoing hardships than before the earthquake.

Moreover, Fonkoze is one of the few MFIs in Haiti that is truly grassroots. Fonkoze was founded in 1994 by a Haitian who started the institution with little more than a vision: a vision to provide the means for all Haitians, even the poorest, to participate in the economic development of the country. His target group was women, because as he declared, “Women are the backbone of the Haitian economy and the doorway into the family unit.”