Rebuilding Haiti Through Localized Banking

The old system of charitable giving has come under a great deal of scrutiny, especially in the wake of natural disasters like that which occurred in Haiti this past January. Does “charity” actually rebuild economies? Or, does it further enable the cycle of poverty to continue? In post-earthquake Haiti, there are many entrepreneurs and civic leaders who argue it is their obligation to correct this cycle—not that of any single cause or causes. New, more localized lending and banking models have already proven highly successful in both Haiti’s cities and rural settings. In this piece, Haiti Onward investigates several examples of the new model in action, including interviews with leaders from Fonkoze, a leading, Haitian-based local bank and lender.