HIFIVE Success Story: Assuring Young Local Entrepreneurs Benefit from Tourism Opportunities
In 2013, the national Carnival was held in Cap Haitian on Haiti’s north coast. One of the country’s designated tourist destinations, Cap is hoping that increased tourism and events such as the Carnival will contribute to economic development in the region. USAID is working with the private sector and the government of Haiti to support development in this important zone.
Caisse Populaire Fraternite (CPF), a 20,000 member credit union based in Cap, saw the event as an opportunity to make Carnival-related revenue opportunities accessible to a broader variety of small businesses, particularly young entrepreneurs. With a grant from HIFIVE, a USAID project under the FIELD-Support LWA, CPF launched a new, short-term credit product designed for artisans and the street vendors selling local food and beverages, targeting those not already members of CPF.