Haiti insurance firm receives $2 million in equity to expand services to the poor

Wednesday, September 12, 2012

PORT-AU-PRINCE, Haiti – A non-profit set up by former U.S. Presidents Bill Clinton and George W. Bush after the 2010 earthquake has given $1 million in equity to an insurance firm based in Haiti.

The Clinton Bush Haiti Fund announced Wednesday that it had made the contribution to Alternative Insurance Company to expand services to the Caribbean nation’s poor. The Canadian non-profit, Mennonite Economic Development Associates, made a separate investment of $1 million.

The investment joins a $2 million loan from the Inter-American Development Bank that was announced in April.

Veronica Selzler of the Clinton Bush Haiti Fund said AIC was selected because it offered “micro-insurance” programs for the working-poor and adhered to international standards.

Source: Montreal Gazette (link opens in a new window)

Categories
Entrepreneurship
Tags
IDB, microinsurance, poverty alleviation