DIG is managing a ten-year, $26 million program in Haiti comprising a $20 million housing finance facility (Rebati) co-financed by the U.S. Overseas Private Investment Corporation (OPIC) and the Clinton Bush Haiti Fund (CBHF). The Rebati facility will play a vital role in long-term reconstruction efforts by providing a systemic solution to finance the construction and repair of homes and businesses through Haiti’s existing financial sector infrastructure, with a specific focus on the country’s working poor.
The facility offers shelter and business reconstruction solutions for a broad spectrum of beneficiaries, by infusing Haiti’s financial sector — notably reputable microfinance institutions, small and medium enterprise lenders, and other eligible and regulated financial institutions with much needed long-term liquidity, repayable on affordable terms within a ten-year period. The financial products available through participating financial institutions include micro-mortgages, housing microfinance, and loans for the physical reconstruction of businesses.
The loans will range from: $5,000 to $25,000 for
micro-mortgages; $1,000 to $5,000 for housing microfinance; and $3,000 to $40,000 for small and medium enterprise repair and construction.
On the capital side, OPIC provided $17 million and the CBHF an additional $3 million. The State Department/USAID transferred $6 million to OPIC, which contracted DIG to manage the facility and to provide technical assistance (TA) to help participating Haitian financial institutions design and market these new financial products. An estimated 4,000 to 7,000 families will benefit from the Rebati facility.
DIG’s staff has extensive international finance experience and has played a leading role in recent years in defining and disseminating best practices on housing microfinance throughout the world. DIG has also worked with key agencies of the Government of Haiti tasked with post-earthquake housing and settlements planning. DIG’s core technical strengths lie in post-emergency reconstruction, financial services, with expertise in housing finance and the urban realm. DIG’s President and CEO, Franck Daphnis, is from Port-au-Prince and members of DIG's management team have worked in-country.