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Vulnerability and Poverty Reduction
Understanding and tackling the causes of Poverty and Vulnerability
Widening the Exit Doors: Lessons from Fonkoze, CLM
Brac Development Institute has published a communication brief that discusses the evaluation results of Fonkoze's graduation programme, CLM.
Fonkoze is an accomplished microfinance institution in Haiti, the poorest country in the Western Hemisphere. Established in 1994, Fonkoze currently has over 165,000 depositors, over 50,000 active borrowers (99 percent of whom are women), and 36 branch offices spread throughout every department of Haiti. It offers credit, savings, remittances, currency exchange, microinsurance (life/credit), literacy, business skills, and life skills training.
Fonkoze's graduation pilot is called Chemen Lavi Miyo, which means Pathway to a Better Life in Creole. The pilot serves 150 families in three sites, in three of the poorest areas in Haiti: Boukan Kare, Twoudino, and Lagonav. Fonkoze is partnering with other nongovernmental organizations to offer health services and is providing a wide range of additional benefits itself, such as facilitating school attendance for members' children.