Ronald Gabriel participated in the closing of the Haiti Invest project, of which the BRH was an advisory member from 2018 to 2024.
The Governor of the central bank, Ronald Gabriel took part, this Friday, June 14, 2024, in the closing of the Haiti Invest project which stimulated private investments in Haiti and facilitated the financing of Small and Medium Enterprises (SMEs) using a model performance-based compensation.
This project, which also enabled the creation of 1,087 jobs, the support of 20 companies and the mobilization of 31 million dollars, supported SMEs in different sectors such as manufacturing, consumption of local products, renewable energies. and finance, according to the governor.
During his speech, the governor highlighted some results of Haiti Invest such as financing for reconstruction, incentives for free zones, agricultural credit (circular 113), the guarantee fund for agricultural and exporting companies as well as the guarantee for businesses run by women.
“The objectives of the Haiti-Invest project harmoniously complement those of the pro-growth programs established by the Bank of the Republic of Haiti. Today, at the end of this project, I would like to extend my warmest congratulations to all those who contributed to the financing, technical assistance and success of this project, despite the challenges that you all have encountered,” he said.
The central bank governor noted in passing that we are meeting at a crucial moment in the country’s economic development, facing major challenges such as insecurity, stagnant economic growth, talent flight and pronounced social inequalities. The latest investigation carried out by the BRH on the financial system reveals, according to him, a loss of more than 626 employees and management executives.
“We recognize the need for additional efforts to strengthen the resilience of the financial sector. This is why we are committed to continuing our actions aimed at maintaining the transparency and efficiency of our financial system, while intensifying our support for initiatives enabling businesses to grow and prosper,” he said, welcoming USAID’s involvement in collecting reliable data to advance financial inclusion in Haiti.
Among other achievements, the governor reported that a moratorium mechanism is being put in place by the BRH to ease the cash flow of entrepreneurs during times of crisis. Even limited in scope, this system allows entrepreneurs to initiate discussions with their commercial partners with a view to considering financial arrangements allowing a sustainable spread of their debts.
The bank has also launched important initiatives aimed at reducing informality, promoting good governance in the creation of a business hub, and facilitating financial inclusion. Among these, the Booster PME program, in partnership with Swiss Cooperation, plays a central role. In addition, our close collaboration with key players such as the Agence Universitaire de la Francophonie (ON), the Swiss Embassy in Haiti and the Sogebank Foundation as part of the Solidarity Network to Support Business Creation (RéSACE) program reinforces our commitment to these objectives.
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