Haiti Development Fund: Catalyst For Haiti's Long Term Development

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Unlike current relief efforts, The Haiti Economic Development Fund(HEDF) was created and designed to enhance Haiti's long term job development initiatives which include entrepreneurship, power generation, telecommunications infrastructure development, microfinance for small businesses, small business technical assistance, export marketing and tourism promotion.

These economic development strategies are being formulated and designed to ensure Haiti's long term business viability and future prosperity.

As Youri Mevs, managing partner of WIN Group Haiti said, "While humanitarian aid is crucial to Haiti, we must build an infrastructure that lays the foundation for ongoing, sustainable economic growth.

In the long term, job creation is the first step to improving people's quality of life."

The HEDF is a grass roots private investment fund was designed to continue the mission of investing in small and medium-sized local Haitian businesses.

The initial goal of the Fund is to take the unique combination of public funding and private skill and encourage free-market development through loans and equity investments in small and medium sized enterprises.

It is hoped that every dollar invested by the Funds will attract an additional two dollars from other investors.

The final goal is that all Enterprise Funds will have transitioned to the private sector by seeding and raising private equity funds, which in turn will raise follow-on private equity funds that stay in Haiti, fueling more economic growth through investment.

The HEDF adopts the "One Village, One Product" regional development strategy pioneered in Japan in 1979 and replicated elsewhere in Asia and in Africa.

This proven approach focuses on a single product or a small number of products well-suited for local production, and concentrates on establishing these regional specialties as exports to national or global markets.

haitieconomicdevelopmentfund.blogspot.../

Gus Schmidt, March 25 2010, 4:03 PM

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