Microfinance Project

Bryan O'Neill, Alyssa Pride,

Ali Quadri, Colleen O'Malley

Akasan: AK100 • Traditional Haitian

breakfast

• Ample nutritional

value

• 24% percent of

children under age 5

suffer from chronic

malnutrition

Cham-Cham

- Haitian food specialty

- Paul Ducarmel: business

owner

"Increase stock of peanuts in order to avoid price

fluctuations on peanuts on the marker."

- Need $7,500

-Currently have 0%

-Location: Maissade

-Repayment Term: 12 months

Economical Background

•Haiti is a free market economy

•Haiti also has a tariff free trade treaty with

the United States of America

•Is the poorest country in the western

hemisphere

• 80% of the population is living under the

poverty line

•Haiti’s only export partner is the United

States of America

Aftermath of the Earthquake

•Two-fifths of all Haitians depend on the

agricultural sector, mainly small-scale

subsistence farming, and remain vulnerable to

damage from frequent natural disasters,

exacerbated by the country's widespread

deforestation.

Loans to Reform State

•Haiti suffers from a lack of investment, partly because of

limited infrastructure and a lack of security. In 2005, Haiti

paid its arrears to the World Bank, paving the way for

reengagement with the Bank. Haiti received debt

forgiveness for over $1 billion through the Highly-

Indebted Poor Country initiative in mid-2009.

GDP

•GDP Exchange rate is at $7.895 billion

(2012 est.)

•GDP growth rate is at 4.5% (2012 est.)

–Which is much better than the rate was the year

the earthquake took place, -5.4% (2010 est.)

Unemployment

•Since a lot of the jobs in Haiti required

agricultural ways of making an income,

many citizens have lost their jobs.

•The unemployment rate for Haiti is at a

staggering 40.6%

What is FAM?

Save The Children wanted to establish a program to

contribute to developing the economy in Maissade using

women.

In 1985, they developed this program, but it ended 10

years later.

The women who were involved had created 115 clubs,

each with 10 women before the program ended.

In 1998, they combined the 115 clubs into 10 big

associations, which became FAM.

FAM

• Produces peanut butter, chanm chanm,

jelly, jam, AK 100, cassava, ground corn

and beans.

• 85 part time employees and four full time

employees.

• FAM works to incorporate women into the

workforce in Maissade.

Goal

• Goal is to help FAM increase its stock by purchasing 1200 pots of peanuts, which are used in all of their products except jam and jelly to avoid scarcity and price fluctuations.

Results of Project

• Purchasing the peanuts will add 2 part time jobs.

• Jobs will be used to distribute FAM'a products to the local market.

• Be able to meet their demand from the Bureau of Nutritional Development (BND) which runs a program designed to feed school children.

• Because peanuts are known for their benefits in nutrition, through the BND program, 3,500 schoolchildren in Maissade will receive daily meals with nutritional value. FAM supplies BND with some of the necessities for their program.

Results Continued

• Will assist the farmers in diversifying their plantation.

• Thus, farmers will no longer have to cut down trees for charcoal make a living and support their families.

Call to Action

•

• Microfinance

• What can be achieved

• How you can help

Stop By Our Table

When: Monday, April 1st

Time: 11 a.m. - 2 p.m.

Where: Student Center Atrium

What: Bake Sale Fundraiser for Peanut Farmers!

Spaghetti Dinner

-What: A dinner to raise money for the peanut project in Haiti

-Where: Cortelyou Commons

-When: Friday, May 3rd @ 6 p.m.

-Cost: $25