Institutional Strengthening to Sogebank

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

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

Facility Type

Environmental Classification

Total Cost

USD 680,000.00

Country Counterpart Financing

USD 380,000.00

Original Amount Approved

USD 300,000.00

Financial Information

Operation Number	Lending Type	Reporting Currency	Reporting Date	Signed Date	Fund	Financial Instrument
ATN/ME-6341-HA	Non-Sovereign Guaranteed	USD - United States Dollar	Jun. 30, 2024	Mar. 19, 1999	Multilateral Investment Fund II (MIF) -	Nonreimbursable

Operation Number

ATN/ME-6341-HA

Lending Type: Non-Sovereign Guaranteed
Reporting Currency: USD - United States Dollar
Reporting Date: Jun. 30, 2024
Signed Date: Mar. 19, 1999
Fund: Multilateral Investment Fund II (MIF) -
Financial Instrument: Nonreimbursable

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