First, here's a little background of Fonkoze, then I'll get into what our partnership with them will look like.
Fonkoze is Haiti's alternative bank for the organized poor. Their mission is to accompany people as they struggle to make their way out of poverty. Their name comes from the Haitian Creole phrase "Fondasyon Kole Zepol" meaning "shoulder-to-shoulder foundation". Fonkoze is an internationally recognized leader in the field of microfinance, known for its comprehensive approach to poverty alleviation. In 2005, the Grameen Foundation awarded Fonkoze its Pioneer in Microfinance Award in recognition of the institution's ability to break new ground in poverty alleviation while operating in one of the most challenging environments in the world.
Fonkoze knows that financial services alone are not enough. They complement those services with educational programs that help members learn important skills and help them think more seriously, more collaboratively, about important issues. These programs are designed to develop leadership and solidarity among members as they learn together.
Leve Project will be working with Fonkoze in their Ti Kredi program. There are many different levels of poverty and Fonkoze works to meet it's clients where they're at. Their core program consists of 4 steps. Ti Kredi is the second step that reaches out to families not yet ready to manage a $75 loan. Ti Kredi offers smaller initial loans, shorter repayments periods, additional support from their loan officer and literacy courses.
Leve Project will support one Ti Kredi center as a part of a bigger Ti Kredi program in the area. Our center will consist of about 50 women and their families. The total cost for a woman to go through the Ti Kredi program is $140 US. That's all it takes to cover the loan and education costs to COMPLETELY change the life of a family in Haiti. We'll give you more details soon on how you can support one of these families.
