SAVINGS, LOANS CO-OPS.(Haiti)(Brief Article)

Caribbean Update | February 1, 2002 | Copyright

Haiti's growing saving and loan cooperative sector was supposed to be the driving force to boost the rural sector and help the poorest Haitians to obtain banking services. Unfortunately, a lack of control and regulations by the Government may create a loss of confidence and a collapse of the whole sector, says the U.S. Embassy in the following report:

Only 700 of the 1,300 cooperatives are legally registered. They began as small rural institutions taking the savings of their members to finance projects for the benefit of the local communities. They also provide ...

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