Palmis Mikwofinans Sosyal : Social microfinance in Haiti

Financial and social services for the poorest micro-entrepreneurs

Since 2003, Entrepreneurs du Monde supports technically and financially Palmis Mikwofinans Sosyal (PMS), a microfinance programme with a strong social. To help micro-entrepreneurs develop their income generating activity and get their family out of extreme poverty, Palmis Mikwofinans Sosyal provides:

• Savings book and adapted credits: Kick-Start Credit (for those who start with nothing), Solva Credit (standard), Individual Credit (for seasoned entrepreneurs), Energy Credit (to purchase solar lamps and improved stoves).
• Training courses to improve the impact of these financing services: management, sales, but also health protection, civil rights, child protection, etc.
• Social support to limit personal misfortunes: in each branch, a social worker assists those who need help to resolve occasional difficulties (health, schooling, family issues, etc.)

Services Assessment

A satisfaction survey was carried out to measure the suitability and impact of the services. The results speak for themselves:

• 97% of the beneficiaries notice positive changes in their lives
• 90% would recommend PMS (low cost of the credit, reception…)
• 93% think that the conditions and services offered by PMS are better than that of their competitors, especially due to the training sessions and the social aspect.

A social microfinance programme adapted to people with disabilities

A partnership has been established with Handicap International to facilitate the economic integration of people with disabilities. The team has improved procedures, making them more accessible for those with disabilities.
This in turn has helped the MFI reach ? and better serve ? more people.

Palmis Mikwofinans Sosyal’s financial partners

In 2017, Palmis Mikwofinans Sosyal received support from the French Development Agency, the City of Paris, Entrepreneurs du Monde, Microfinance Solidaire SAS, and the microfinance websites Babyloan and Kiva. To improve quality and expand its services throughout Haiti, PMS now needs to find new financial partners to support its work.