What is HIFIVE? Haiti Integrated Finance for Value Chains and Enterprises (HIFIVE) is a financial sector service project funded by USAID designed to encourage a dynamic Haitian economy by increasing the availability of financial products and services to its people and to its enterprises. A catalyst and a facilitator, HIFIVE works primarily on the supply side of the financial sector to empower Haitians by providing access to innovative financial products and services with a focus on rural areas, targeting high potential value chains, supporting the use of technology while maximizing synergies with other USAID projects.
HIFIVE improves the capacity of a core group of financial suppliers – namely strong microfinance institutions (MFIs), commercial and development banks (those receiving DCA support and others), and caisses populaires (credit cooperatives), to design and deliver appropriate financial products to value chain participants and other bankable enterprises from USAID’s , DEED, MYAP Partners, WINNER, Feed the Future and other projects. Working with the financial institutions, technology providers and USAID’s other priority projects, HIFIVE supports the development of solutions that will expand and accelerate the outreach of financial services to rural and agricultural zones.
Timeline: 5 year project: July 2009 – May 2014. No-cost extension granted until May 2015.
Partners: FHI 360; World Council of Credit Unions
Funding Source: USAID/Haiti
Award Value: $37.1 million
Primary Thrust of the HIFIVE Program
- Delivery of technical assistance
- Capacity-building and market facilitation to create profitable and sustainable relationships between the financial institutions and participants in a variety of value chains
- Working with financial institutions to develop sustainable lending approaches for MSMEs and providing business development services to MSMEs in targeted value chains to improve their ability to access finance.
- Providing grants to private sector and other partners to support activities contributing to HIFIVE objectives through the Haitian Catalyst Fund (HCF).