Just one year after our initial fundraising effort for a bank was launched, a branch of Fonkoze opened in Fond des Blancs in August.  It was cause for great celebration for the community. 

A matching gift of $25,000 from Michael Fisher went a long ways towards making it a reality.  This bank is ideally suited to the needs of the area.  It is Haiti's Alternative Bank for the Organized Poor.  

With a bank of their own, even the poorest peasant can go in and open an account.  Fonkoze also offers micro-lending opportunities and support to those wishing to start up a small business.  Employees of our hospital no longer have to travel 3 to 5 hours to do their banking in Les Cayes or Port-au-Prince.   People living in the U.S. can send a wire transfer right to their families in Fond des Blancs for a minimal charge.

In Haiti, 52% - more than half! - of the population is illiterate. The majority of those who are illiterate are based in the rural areas where Fonkoze works. Basic literacy is a cornerstone to democracy, self-esteem, sound business management and human development. 

Many people are startled to learn that more than 60 percent of Fonkoze's clients do not know how to read and write when they join the program.  Illiteracy does not prohibit a woman from receiving an initial loan or even a second loan, but by the time a woman receives her third loan, she must be enrolled in one of Fonkoze's literacy centers. At any given time, Fonkoze is usually operating about 250 literacy centers, sometimes in the most rural sections of Haiti.