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Firm stays committed
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A Source of Stability Amid Uncertainty
Photo: ACME
Marie Rosaire Nazaire, who runs an accessory business, has been a client of the USAID-supported Haitian microfinance firm ACME for 10 years.
Through microfinance loans, Marie Rosaire Nazaire has started and expanded her business, which has enabled her to feed her family and even build them a small house.
Marie Rosaire Nazaire has been a client of ACME, one of Haiti’s leading microfinance institutions, for 10 years. She received her first loan from ACME for a total of 7,500 Haitian gourdes (roughly $195). She has expanded her accessory business via increased access to larger loan sizes, and now has an active loan of 100,000 Haitian gourdes (about $2,560).
In 2004, Haiti’s capital, Port-au-Prince, faced political turmoil and gang activity (referred to as “Operation Baghdad”), which destabilized the city and the local economy. Yet despite the political and economic turmoil, she was able to continue running her business and feeding her family. She even saved enough money to build a small house for her and her family.
When ACME marked its 10th anniversary, it highlighted USAID’s decade of support to Haiti’s microfinance sector. ACME now has a client base of 20,169 (of which 69 percent are women), and a total portfolio of $23.2 million. Its list of achievements is even more impressive when considered against the background of Haiti’s economic and political instability during this period.
The microfinance institution launched its activities with a grant from a USAID program, which also provided technical support and training to their nascent operations. It received an additional grant to develop four rural branches, as part of its efforts to achieve nationwide coverage.
Its expansion into rural areas began with three branch openings, most recently in the southern town of Fonds-de-Negres. Since then, it has opened a branch in Hinche, a rural town in Haiti’s central plateau, and plans to open branches in both Aquin, in southern Haiti, and Cabaret, in the Montrouis watershed zone in the country’s Ouest Department.
ACME’s greater vision for the future rests faithful to its mission of helping the micro and small enterprises of Haiti. USAID’s support to ACME, and the entire microfinance sector, has created a cadre of strong institutions and ensures continued financial service availability throughout Haiti.
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