News

Haiti to Expand Business Incubator Project

By: Caribbean Journal Staff - December 27, 2012

Above: Haiti (IDB Photo/Peter Bate)

By the Caribbean Journal staff

Haiti will be boosting its a “business incubator” pilot project in the country with help from the Inter-American Development Bank.

Haiti will invest $17.25 million in programmes aiming to support the growth of micro-, small and medium-sized enterprises.

The funding will also go toward the launch of leasing services to “stimulate economic growth and generate sustainable employment,” the IDB said.

One of the programmes will expand a business incubator project that creates a system of “microparks” to foster small businesses in industry, tourism and agribusiness value chains. It will additionally expand a pilot project for sustainable textile production in “priority” economic areas.

The programme will encourage the creation of six microparks for firms that cannot afford their own production facilities, giving producers access to “strategic investments” in basic and productive infrastructure, technical assistance and training.

Another programme will encourage the creation of financing sources for small firms and agricultural enterprises by financing loans for new leasing companies for machinery and other equipment.

A report by McKinsey and the International Finance Corporation in 2010 found that only about half of Haiti’s 900,000 MSMEs have their leasing and credit needs met.

Haiti’s Ministry of Economy and Finance will be carrying out the programmes, in coordination with the Ministry of Commerce and Industry.

Haiti’s private sector and government will providing $7 million; the IDB will providing $5.25 million and the Haiti Reconstruction Fund will providing $5 million.

Popular Posts cape santa maria

The Best Caribbean Beach Resort You’ve Never Heard of 

There’s a boat just offshore called “Escape.”  It’s bobbing in some of the most brilliant, dynamic turquoise water I’ve ever seen, a few meters from a stretch of sand so bright and so white you have to squint to look […]


Marriott Is Opening Its New St Regis Resort In Aruba 

aruba st regis inside the restaurant with chairs

It was more than a decade ago that Marriott opened its first-ever Ritz-Carlton resort in the Dutch Caribbean: the Ritz-Carlton, Aruba, which at the time was the island’s first true five-star resort.  Fast forward to 2024, and Marriott is set […]


A Tiny New Boutique Hotel Just Opened on a Pink Sand Beach in The Bahamas 

potlatch club pink sand with blue water

The pink sand, the historic cottages, the chic beach bars and luxe villas. You may be thinking of Harbour Island.  But this is another increasingly hip destination in The Bahamas: Governor’s Harbour, Eleuthera, which just welcomed a brand-new boutique hotel.  […]


Related Posts haiti spirit airlines cap-haitien

Spirit Relaunches Flights to Cap-Haitien, Haiti

Spirit Airlines has relaunched its flights from Fort Lauderdale to Cap-Haitien on the northern coast of Haiti.  The low-cost carrier resumed the service between Fort Lauderdale-Hollywood International Airport and Cap-Haitien International Airport on Dec. 3.  The service is the only […]


Eastern Airlines Is Launching Flights to the Dominican Republic

dominican republic eastern airlines

The revived Eastern Airlines is back in the Caribbean.  The new iteration of the once-legendary carrier is set to launch expanded Caribbean flights in December with service to Santo Domingo, Dominican Republic.  Eastern Airlines will be launching twice-weekly flights from […]


From The Bahamas to Jamaica, The Talking Heads’ Caribbean Love Story

bahamas talking heads jamaica

Talking Heads drummer Chris Frantz’s new book, Remain in Love, is a billet-doux to his bandmate and wife of more than 40 years, bassist Tina Weymouth, as well as documenting the couple’s musical journey together — first, as part of […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You