The objective of the project is to strengthen the institutional capacity la Société Général Haitienne de Banque S.A. (SOGEBANK) to design, establish and profitably operate an affiliated company which specializes in lending to small and microentrepreneurs. The project will allow SOGEBANK to carry out the needed studies to design the new lending operation, acquire the appropriate technology, install a specialized management information system, and obtain technical management assistance in microfinance, all of which will be installed in the new company to be created. The principal activities that SOGEBANK will carry out during the next twelve to 18 months include: a. Hire consultants to assist in the preparation of a market study and strategic plan for the establishment of a microcredit lending company of which SOCEBANK is a major shareholder. b. Send key SOGEBANK management staff for exchange visits to other Latin American commercial microfinance institutions to gain a better understanding of the critical issues in microfinance operations. c. Obtain technical assistance in the design and set-up of operations of the company, including at least two microlending offices in the first two years. This will include capital and ownership structure, operational structure, product design, procedures, staff selection and training, and information systems. d. Research, select, purchase and install an appropriate Management Information System (MIS) which will permit full and efficient automatization of all lending operations. e. Hire and train management and credit officers in optimum credit technology and procedures to efficiently reach the micro and small enterprise sectors. f. Purchase and install necessary equipment (motorcycles, office equipment, computers) for full operation of lending offices. g. Begin microlending operations in one office in the first year, and open a second office in the second year.
Project Detail
Country
Haiti
Project Number
TC9810020
Approval Date
January 4, 1999
Project Status
Closed
Project Type
Technical Cooperation
Sector
PRIVATE FIRMS AND SME DEVELOPMENT
Subsector
PRIVATE FIRMS AND SME DEVELOPMENT
Lending Instrument
Multilateral Investment Fund Instrument
Lending Instrument Code
MIF
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 680,000.00
Country Counterpart Financing
USD 380,000.00
Original Amount Approved
USD 300,000.00