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FINCA Canada

Flooding in Pakistan: FINCA’s Emergency Response Fund

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To bring much-needed assistance to FINCA clients overwhelmed by the recent flooding in Pakistan, FINCA Canada, together with FINCA International, has launched an Emergency Response Fund. With a goal of raising $1.5 million, the fund will provide aid to 15,000 of FINCA Pakistan’s affected clients and staff.

Since mid-June, torrential monsoon rains have left one-third of Pakistan underwater. The flooding and landslides have tragically claimed the lives of 1,500 people and harmed the lives and livelihoods of over 33 million women, men and children.

The inundation washed away countless homes and caused tens of billions of dollars of damage. Waterborne diseases now pose a serious health threat. Hydrologists say it may take six months for deadly flood waters to recede in the country’s hardest-hit areas.

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The catastrophic flooding in Pakistan has touched everyone. FINCA Pakistan reports that the floods have directly impacted at least 15,000 clients and staff. The number of affected clients is expected to increase. FINCA Pakistan continues to assess the extent of the damage, as large areas of the country are still inaccessible.

FINCA Pakistan’s rural clients have been most severely impacted. Over 13,000 clients have lost crops, land and livestock in the floods. These losses are consequential in local communities. On average, FINCA clients hire 2.7 employees, and their micro-enterprises play an essential role in local food supply chains.

At least 13,000 FINCA clients in Pakistan lost crops, land and livestock in the devastating flooding and landslides.

The United Nations and the Government of Pakistan stress that distributing cash is the fastest and most efficient method of helping people. Through its digital mobile wallet app, FINCA Pakistan is in an excellent position to meet this need. Most of FINCA Pakistan’s staff and clients can safely and securely receive money through their mobile phones—access that is not common in Pakistan.

To support the relief effort, FINCA Canada has launched the FINCA Canada Emergency Response Fund. Donations will enable families to meet their immediate needs of food, clean water and shelter. It will help them clean up and repair flooded homes and businesses. The fund will also aid agricultural clients to restart their businesses, which are essential sources of food security in their local community.

Donations to the FINCA Emergency Response Fund are fully tax-deductible and can be made online at FINCACanada.org/PakistanFlood. You can also make a gift through your donor-advised fund, stock or by mail. 

Please make a generous gift today to the FINCA Canada Emergency Response Fund.

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FINCA DRC: Helping Financial Solutions go Digital

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The ongoing modernization of financial resources and efficient payment systems within the Democratic Republic of Congo (DRC) has provided new and innovative opportunities to promote accessibility to financial knowledge across the country. FINCA Canada, in partnership with the Government of Canada, continues to have a strong presence in the DRC, helping further develop financial prosperity among low-income women and men with financial services that are specifically tailored to their needs and unique lifestyles.

Last month, FINCA DRC met with members of L’Association Nationale des Institutions de Microfinance en République Démocratique du Congo (ANIMF-DRC), or The National Association of Microfinance Institutions, to further connect with local microfinance institutions and discuss best practices in financial resources and educational training within the DRC. Using experience-based results, FINCA DRC was able to garner local acumen and provide organizational highlights on the following topics:

  1. The integration of the National Money Switch;
  2. Women empowerment and obstacles in financial exclusion; and
  3. Financial education through FINCA institutions.

With several microfinance institutions sharing an array of practices on financial education training, this meeting provided FINCA DRC with the opportunity to gain further local support and insights in combatting financial exclusion across the nation.

The integration of the National Money Switch

In 2021, following a reform phase aimed at normalizing payment systems in the DRC, the Banque Centrale du Congo (BCC), or Central Bank of the Congo, announced the launch of its National Money Switch using the SmartVista solution.  The solution digitizes traditional banking activities and services and has become the platform of choice by more than 20 national systems worldwide[1]. The National Money Switch offers interoperability between the various economic players on both a national and global level as the current landscape continues to show saturation in segregated and privatized electronic payment solutions.

Subsequently, FINCA DRC was granted the opportunity to participate in the pilot phase of integrating the National Money Switch via the Mosolo card and was the very first microfinance institution in the DRC to take this step under the recommendation of the BCC. The Mosolo card (Mosolo meaning ‘money’), allows patrons to travel or trade internationally by gaining access to both the Congolese franc and multiple other currencies. These developments have solidified another building block in the traditional financial systems to streamline the use of FINCA products and services and further introduce technology into the economic landscape of the DRC.

Women empowerment and strengthening gender inclusivity

Gender equality remains a vital element in the development and sharing of financial resources through FINCA institutions. As women continue to face obstacles through financial and economic exclusion in producing accessible and inclusive materials, FINCA Canada continues to help women discover meaningful work, establish successful and lasting businesses, and achieve financial independence in the DRC.

With new advancements in digital banking services and its ongoing integration into the DRC, ANIMF-DRC provided their insights on the empowerment of women and the obstacles related to their financial inclusion during its meeting in August. Members of the ANIMF-DRC insisted on the fact that this is just another phase in the nation’s digital transformation, encouraging the traditional financial system to consider the unique needs of women in the use of products and services FINCA DRC provides.

Looking ahead: revolutionizing digital finance

FINCA DRC continues to make strong, positive strides in providing technologically advanced resources to better economic prosperity in the DRC. With the FINCA Financial Inclusion Project wrapping up after five years in operation, our team is committed to continue fighting for financial inclusion among low-income communities traditionally excluded from the formal financial system, to support self-employment and progress towards a better life.

At FINCA, we’re committed to working alongside local microfinance institutions of the DRC to provide further access and opportunities to financial resources, education and training and continue our positive momentum in helping to build local businesses and ignite economic vitality in communities across the country.

Click here to learn more about how the FINCA Canada Financial Inclusion Project has developed and promoted economic prosperity for low-income women and men in Haiti and the DRC through microfinance institutions, technology and training.  

Stay in touch with us over Twitter, LinkedIn, Instagram and Facebook.

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Empowering Entrepreneurs with Financial Education in Haiti

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FINCA recently delivered a financial education masterclass to 60 micro-entrepreneurs living and working in Haiti’s most difficult communities. Attendees received a certificate of course completion, strengthened business knowledge, and renewed confidence. The COVID-19 pandemic brought huge concerns and revenue losses for small business owners in metropolitan Port-au-Prince. But, the big challenge for these seasoned entrepreneurs is the ongoing gang activities in their local community of Cité-Soleil, long considered a “red zone” community.

Learning the Basics of Finance

In this time of increased crisis and recession in the Haitian economy, understanding the basics of finance and entrepreneurship can make the difference between success and failure. Participants learned financial concepts, budgeting, and good business practices during the intensive three-day training. They aim to use the knowledge to keep their enterprises running and their family expenses under control. The training also included topics and exercises around goal setting, savings, and debt management. It concluded with an interactive session on business planning. Participants were divided into four groups to pitch different types of business plans–production, trade, service, and technology innovation.

Feeling Empowered and Confident

Participants like Rose Daylalle Sylvestre and Jonise Dorestant expressed gratitude for the sessions, which they found very practical and informative. Another enthusiastic participant, Yvrose Napaul, left the course feeling more confident with her newly acquired skills. She felt ready to make sound financial decisions that would positively impact her family’s quality of life. FINCA’s training was a resounding success as the participants improved their average test score from 5 pre-training to 8 (on a 10-point scale) at conclusion.

FINCA Haiti has been intensifying its financial education efforts for the past three years to support entrepreneurs who often do not have a formal education and/or access to finance and business courses. To expand the reach and impact of their training, FINCA Haiti is partnering with other international NGOs, like Concern Worldwide, who introduced this latest group of trainees.

This financial literacy training was made possible with support from the Government of Canada.

Haiti Update: One Year after the Devastating 2021 Earthquake

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On August 14, 2021, during the height of the COVID-19 pandemic and amidst a history of political and economic unrest, a devastating 7.2 magnitude earthquake rocked Haiti’s southern peninsula. The earthquake damaged over 130,000 homes, injured more than 12,000 people, and killed at least 2,200 people.

Three days after the earthquake, Tropical Storm Grace hit. The storm worsened conditions for the thousands still living on the street out of fear of the earthquake’s ongoing aftershocks.

Of FINCA’s more than 50,000 clients in Haiti, some 5,200 lived in Haiti’s southern horn near the epicenter of the earthquake. FINCA also had dozens of staff in the region.

Temporary shelter being used in Haiti one year after the August 14, 2021 earthquake.
A year after an earthquake devastated Haiti on August 14, 2021, many people still live in temporary shelters.

FINCA Canada’s immediate response

FINCA rushed emergency aid to the region from Port-au-Prince and quickly assessed the damage. More 60% of FINCA clients in the region had been impacted. Some had lost their lives, many were injured, and hundreds lost their business or home.

To help people rebuild, FINCA Canada launched an emergency response fund. With overwhelming support from donors, FINCA Canada and FINCA International quickly raised more than $450,000. With these funds, FINCA forgave the loans to 827 clients who lost a business or home due to the earthquake. Getting these businesses operational was critical to humanitarian efforts. Their little shops are the backbone of the food supply chain. FINCA also ensured that staff had food, hygiene supplies and temporary shelter so they could get back on their feet and support their clients.

A Brave Woman

Standing next to the broken-down walls of what was once her home and store, it is all coming back to Marie Nicole Valcourt. The ground shaking, the fear, the run to safety and the cries for help. On August 14, 2021, the earthquake took away in seconds the fruits of lifelong efforts. What had been a busy business day for the mother of two ended as a nightmare for Marie Nicole and tens of thousands of others.

While most of her neighbours were still dazed, Marie Nicole collected the few belongings she could save and sought safety for herself and her family in the countryside. The children have stayed in the countryside, but Marie Nicole returned to town so she can make a living. The support that she received from FINCA and others was helpful but reconstructing a life from scratch is hard.

Keeping Her Children in School

Using a new loan from FINCA, Marie Nicole launched a business buying and selling propane gas canisters. It was an opportune moment as propane was in short supply. “I did not have a lot of cash. I needed to be smart in choosing the items to trade,” she says. While she slowly worked to rebuild her house, she branched out into other products.

Marie Nicole now tries to carry a wide range of items, though admits that her inventory is scarce as political and gang violence over the last year have made it increasingly difficult. “I pay double the transportation fees I used to,” she says. “Sometimes, you are not even sure if you will ever see the goods you paid for.”

Since Marie Nicole is still staying at a friend’s home, her children remain in the countryside. “It has been a tough decision. I am heartbroken.” But Marie Nicole is a realistic woman. “Given the situation, the children have to stay with their grandfather so that I can invest in the business.” By earning a living, she can ensure that they stay in school. Not disrupting their studies any more than is necessary is her top priority.

Preparing for the Next Disaster

In recent years, Haiti has faced numerous social, economic, political, and natural upheavals. Political unrest includes the assassination of Haitian President Moise in late 2021. And there have also been two smaller earthquakes in 2022. But Marie Nicole and the rest of the people of Haiti continue to demonstrate resilience amidst the challenges and future uncertainty.

Among all those issues and uncertainties, Marie Nicole is relieved and grateful for the day she became a member of FINCA’s Fanm Vanyan (Brave Women) Village Banking group.

I am thankful for FINCA’s trust and that you did not give up on us. I will continue working hard to honour this trust and secure a better tomorrow for my children.

How FINCA Canada is Providing Financial Resilience Amongst Men and Women in Haiti and The DRC

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Following two years of uncertainty and financial hardship, 2022 has been swept up by political tensions and economic turbulence that continues to shake the financial stability of people all around the world. These impacts are especially being felt by low-income women and men in developing countries. Despite these privations, FINCA Canada projects that both Haiti and the Democratic Republic of Congo (DRC) were able to meet and, in some cases, even exceed their targets as members continue to demonstrate their resilience in the face of ongoing challenges. In partnership with the Government of Canada, FINCA Canada’s Financial Inclusion Project provides further analysis of the impact of their financial training, products and solutions and how they differ between both men and women in impoverished nations.

This month, FINCA Canada launched the Financial Inclusion Project year five mid-year report, which found that overall, the per-capita income of FINCA clients continues on a slow but steady increase in both countries, with particularly robust income growth among repeat and female clients. In the DRC, the growth in per-capita income is also reflected in lower rates of poverty among FINCA clients, demonstrating the utility of financial tools and education to lift women up in more ways than one.

Exceeding project goals and expectations

Several of the Financial Inclusion Project indicators of success are progressing well ahead of schedule. An important baseline for spurring financial inclusion and literacy training is showing remarkable levels of adoption in both countries. In Haiti, FINCA Canada not only achieved their year-end goal but nearly doubled the client number target, with a total of 93,042 clients trained, 91 percent of which were women. In the DRC, the end of project goal of 225,963 clients trained was also surpassed early in the year, but many have since been lost due to the multiple economic crises that hit the country. However, FINCA DRC remains optimistic about once again achieving its target, as signs of recovery are beginning to bloom, including expanding construction in the region and the stabilizing of local currency.

In Haiti, the agriculture loan product also continued to be successful, especially among women. With 1,822 beneficiaries (82 percent women), FINCA Haiti has already surpassed the end of project target of 1,400 clients (60 percent women). These clients are served by 32 hybrid loan officers trained in the revised agriculture loan product, exceeding the end of project target of 25 agriculture loan officers trained. 

Juste Pour Elle, the loan product designed for women in the DRC, also achieved a remarkable outreach with 1,378 women beneficiaries and a total loan disbursement of approximately CAD $9.2 million in just over a year since its launch.

Other key milestones in Haiti and the DRC include:

  • Expanded access to financial services: Access points include branches, agents and mobile banking. In the DRC, there were four financial access points for every 1,000 clients at the end of March 2022, reflecting an improvement from the results of September 2021 which had 3.86 access points for every 1,000 clients. FINCA Haiti had 1.67 branches and service outlets for every 1,000 clients, which represents an improvement over last year’s result of 1.52.
  • Increased reach to target clients: During the first 6-months of 2022, FINCA Haiti added 12,533 new clients. The DRC gained 50,000 new clients.
  • Growing capacity-building programs: During the reporting period, 11 new modules belonging to three different sets of training programs were developed, translated into French and implemented in both Haiti and the DRC. Courses cover gender equality in the financial sector, diversity, equity and inclusion in the workforce, and basics of personal financial health and gender-related barriers.

Looking ahead

Support is still desperately needed to continue advancing financial inclusion in Haiti and the DRC, as ongoing social, political and economic influences limit access to resources and jeopardize overall financial wellbeing. Threats to public safety in both countries have challenged client retention, as access to the financial resources, which are commonly favoured by low-income women, including in-person agents and POS systems, have become restricted. As these conditions have increased reliance on mobile and digital solutions, FINCA continues to focus on enhancing public understanding and adoption of these alternatives.

Having a better understanding of how to tailor FINCA products and services to the needs of our clients, with a focus on women, will be essential to continuing to help clients through these trying times. FINCA Canada has recently completed several surveys and has since launched a variety of training programs and courses to ensure that staff are best equipped to help clients navigate the path to financial prosperity. In partnership with the Government of Canada, FINCA remains committed to provide struggling individuals and communities with an opportunity to pull themselves out of poverty and better achieve financial freedom, in both the good times and the bad.

Click here to learn more about FINCA Canada’s work towards increasing financial access in impoverished communities.

Stay in touch with us over Twitter, LinkedIn, Instagram and Facebook.

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Africa’s Economic Outlook

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Africa’s economic outlook shows at least some signs of promise. COVID-19 had a devastating impact on FINCA’s clients. The pandemic caused economic turmoil that increased food insecurity and impoverished millions. An outpouring of support from donors allowed FINCA to take extraordinary measures to help them. Recent research, however, shows that a subset of FINCA clients have done an amazing job helping themselves. These women can perhaps uplift their community even as they uplift themselves.

What the Research Shows about Women

FINCA Canada with support from the Government of Canada supported research over the course of three years in the Democratic Republic of the Congo (DR Congo). FINCA Canada planned for and started the project not long before the pandemic. When the project was complete, FINCA’s annual surveys roughly correlated with before, during and after the COVID crisis. Analysis of the data showed that those who fared best during the pandemic were women who had a long-standing relationship with FINCA.

Over the course of the study:

  • Repeat female customers nearly doubled their income from 2018 to 2021. Repeat male customers had big income gains from 2018 to 2019 (the year before COVID), but their income fell from 2019 through 2021.
  • By late 2020, repeat female clients reported fewer negative impacts from COVID restrictions on their businesses than men.
  • Repeat female clients more often reported positive changes in their business by late 2020. Most likely these women rapidly pivoted their business to make the most of fast-changing market dynamics.

As would be expected, women and men had more financial struggles in 2020 than in 2019. As the worst of the pandemic retreated from 2020 to 2021, repeat female clients said that they had fewer problems managing expenses and saving money. For men, the “post-pandemic” situation didn’t improve much.

Overall, the research points to something that anecdotes have long suggested: that women who have a bit of financial education are good businesspeople and supremely capable money managers. Rose Michelle, a single mother with three children in her care, exemplifies what these amazing women were able to achieve.

Improving Africa’s Economic Outlook One Woman at a Time

Rose lives in Kinshasa, the capital of DR Congo. A stalwart member of her community, Rose is an optician and owns a small store that sells eyeglasses. When the pandemic hit, she had been a FINCA customer for quite some time.

This is how Rose remembers her decision to seek support from FINCA.

I needed money to boost my business…. [A loan from] FINCA allowed me to reinforce the stock in my optical office so that patients who came for medical examinations also find the glasses and accessories they need on-site.

Prior to the pandemic, Rose’s business was thriving. She had two full-time employees and was making a nice profit. Rose had plenty of money to take care of herself and her children. She never had any issue making her loan payments to FINCA.

When COVID-19 arrived in the DR Congo, Rose’s business suffered greatly. Rose recounts:

My establishment is located not far from one of the barriers installed to limit access to the city center. With fewer and fewer customers coming to us… I was not able to honour my commitments. I couldn’t pay anymore the salaries for my two employees for nearly three months.

She also was falling behind on her loan repayments, so FINCA worked with her to devise a new payment plan that matched her financial capacity.

None of that is truly surprising. It’s what businesses around the world went through. What came next is what makes Rose, and other long-term women clients like her, special.

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Rose Michelle displays the eye chart she uses to assess clients. As the COVID-19 pandemic winds down, her business is coming back, a hopeful harbinger for Africa’s economic outlook.

The Post-Pandemic Future Holds Opportunity

As the lockdowns began to relax, Rose saw opportunity. She knew that customers would be eager to spend as soon as they could safely move around. As a result, Rose applied for and received a new loan from FINCA to relaunch her activities. Rose says:

As a good partner, FINCA granted me loans every time I needed. The loans were slightly smaller than before the crisis but really served as oxygen balloons for my business.

Rose was once again able to pay her staff, and she slowly repaid them for the months that they worked without a salary.

Rose, her children and her employees did not come through the crisis unscathed. There were many, many months of scarcity. Ultimately, however, the business acumen that Rose developed during her long tenure with FINCA brought her through. She’s exiting the pandemic in a position of strength. As business edges back to where it was before COVID, Rose says that:

With the support of FINCA, I plan to open another optical practice in the periphery and buy modern equipment for my business in the near future.

FINCA Canada likewise plans to continue its outreach and its research. The surveys showed what happened, but with further research, FINCA intends to be able to say definitively why repeat female clients recovered more easily from COVID. With that information in hand, the hope is that other segments of customers can be similarly empowered. And that will have positive implications for individuals as well as for Africa’s economic outlook as a whole.

Summary: The Financial Inclusion Project Approaches its Final Year

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This spring marked the start of the last year of FINCA Canada’s Financial Inclusion Project in partnership with the Government of Canada. The project aims to promote the economic prosperity of low-income women and men in Haiti and the DRC by providing the means to increase their income and savings—enabling them to improve their livelihoods, raise their quality of life, and increase their revenues.

Despite the many economic hardships and crises that continued to persist over the last year, both countries were able to make great gains in several areas.  In Haiti, the agriculture loan product continued to be very successful, especially among women. With 1,822 beneficiaries (82% women), FINCA Haiti has already surpassed the end of project target of 1,400 clients (60% women).  Juste Pour Elle, the loan product designed for women in the DRC, also achieved a remarkable outreach with 1,378 women beneficiaries and a total loan disbursement of USD $7.1 million in just a little over a year since its launch.

Successful results were also achieved with respect to financial literacy (FL) training for both clients. In Haiti, a total of 93,042 clients were trained in FL (91% women), approximately double the end of Project target of 49,200 while the DRC also surpassed the end of project training target of 225,963 clients trained (64% women). The Financial Literacy training program not only encourages financial inclusion but also helps the beneficiaries to better manage their finances, create balanced budgets, develop a savings culture and gain knowledge about how to deal with loans.

Women’s Day Celebration: FINCA Haiti Putting Women Entrepreneurs in the Spotlight

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From March 8th to 11th, FINCA Haiti’s head office prepared to celebrate Women’s Day and Haitian women’s contribution to the country’s economy. Under the marketing campaign “Mache Kontre”, FINCA Haiti spotlights brave and powerful women entrepreneurs from different backgrounds, sectors and stages in their entrepreneurial journey.

Celebrating five FINCA Haiti clients

FINCA Haiti brought together five amazing women from the informal and formal sectors, living in both urban and rural areas. Marjorie, Kettia, Marthe, Rose Syncia and Lorgina joined hands to showcase their products, ranging from fresh fruits, vegetables, and processed farm products to artistic crafts. During this event, FINCA was also able to showcase how they can accommodate the different needs of women entrepreneurs depending on the type and size of their business. Two of the women involved in trading agricultural products became part of the FINCA family thanks to a Village Banking group; one received an individual loan after attending FINCA entrepreneurship training while another chose a Small Micro Enterprise Loan (SME loan) to help land a big contract.

The exhibition provided the opportunity for staff, clients and the public to (re)discover what these amazing women have achieved. Behind their bright smiles are different stories but also common challenges of gaining new clients, selling their products and keeping their businesses alive.

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Marjorie Alexandre is a young mother and a new face of FINCA’s “Mache Kontre”. She successfully turned her crafting skills into her main source of income by producing and selling affordable jewelry pieces for women as well as teaching craftsmanship to youth in her community. Due to the level of insecurity in Croix-des-Bouquets where she resides, participation in many of the other exhibitions became a challenge and therefore affected her sales. Kettia Jean, founder and CEO of KetD’lis, was also affected by the country’s economic recession and increased insecurity. “My last sales event was in December” she recalls. Therefore, both women were delighted at the opportunity to network and most importantly, sell their products at the FINCA “Mache Kontre” exhibition.

Rose Syncia and Marthe, CEOs and founders of two growing brands, promoted their local Haitian delicacies at the exhibition and were quickly inundated in orders. Providing employment to more than ten women each, the new business is addressing one of the major issues their sector is facing now: the decline of cultural and trade events where they can engage new clientele and secure new contracts. Events like Mache Kontre are proving critical for these two seasoned entrepreneurs who have faced a drop in sales drop since the delivery of their products to the South and North regions became risky due to gang activities.

Transportation is a risk that fruit trader Lorgina, and her daughter Sheelove, have learned to live with. While her transportation costs have increased due to insecurity in areas she purchases her inventory, she’s been able to remain profitable by offering a larger choice of fruits to her clientele.

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How FINCA Haiti will continue to support women entrepreneurs

To support resilient women entrepreneurs such as Marjorie, Kettia, Marthe, Rose Syncia and Lorgina, FINCA Haiti will continue to run empowering initiatives, while reinforcing its educational program to address challenges faced by FINCA Haiti’s 49,000 women clients and other women entrepreneurs. In addition to loan management, FINCA Haiti will also offer training in: business and personal objectives setting, budget planning, debt management, sales and marketing, customer service, business management, mobile money use, savings and building financial resilience to prepare for future economic crises.

A Partnership Between FINCA and Sisu Global to Save Lives in Ukraine

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The war in Ukraine continues to cause tremendous loss of innocent lives and the destruction of civilian infrastructure. There is a global plea to support the people of Ukraine in these difficult times. In response, FINCA is partnering with Sisu Global to help deliver Hemafuse, a lifesaving medical device, to Ukraine. To date, the first shipment of 500 Hemafuse devices is in the hands of medical personnel on the frontlines to save lives in Ukraine, but more is needed. If you would like to support this campaign, click here.
  Hemafuse is the flagship product of Sisu Global, a FINCA Ventures investee. It enables a surgeon to capture and reuse a trauma patient’s own blood. This product has been saving lives in Africa and other parts of the world, where there is a shortage of donated blood. Due to the war, donated blood is in short supply in Ukraine. Hemafuse can be a lifesaving solution for many trauma patients there. As a matter of fact, medical research indicates that recycling a patient’s own blood reduces the likelihood of complications. Another added benefit is the shortened wait time to perform surgery. A single use of the Hemafuse device can salvage up to three units of blood, which saves the equivalent amount in donor blood for other patients. This helps free up resources and brings down costs when donor blood is in short supply. Sisu Global designed Hemafuse to solve the core challenge of the global donor blood shortage. In Africa, it is distributed through Amref, the continent’s largest health development NGO.
The campaign aims to send a second shipment of Hemafuse units to Ukraine soon. For more information on how to get involved and save lives in Ukraine, visit our campaign to save Ukrainian lives and provide access to blood.

Syrian Refugees in Jordan: The Need for Access to Finance

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Lara Shaheen is a refugee from the war that has engulfed Syria since 2011. In 2014, she settled in Amman, Jordan. With no idea when the war would end, and she could return to Syria, Lara decided to build a business in Jordan. She produces handicrafts – soaps, candles and much more – for sale in local markets. Lara was motivated to be able to take care of herself and her family as well as give back to the country in which she was living. As Lara notes, “We Syrians have many skills. We can use them to support ourselves and support the country we’re in. Instead of becoming a burden, we can be useful.”

The Experience of Refugees in Jordan

More than 1.4 million Syrian refugees – roughly half registered and half unregistered – in Jordan. Most have been in the country as long as Lara. Like people in many other places, they have been displaced by essentially “never-ending” conflicts. In addition to the Syrians, Jordan hosts roughly 150,000 Iraqi refugees and some 2 million Palestinian refugees who arrived (or are descended from people who arrived) in Jordan fifty to seventy years ago. While some refugees live in camps on the outskirts of Jordan’s cities, most (including 85 percent of the Syrians) live in towns and cities across the Kingdom. Like Lara, their goal is to integrate themselves into Jordanian society. Of Syrian refugees who have been in Jordan for more than five years, 97 percent plan to stay in Jordan. Only 6.6 percent of refugees who arrived between 2015 and 2018 have left the country. Many Iraqis have been in Jordan longer. Jordan is their new home.

Refugees Usually Need Financing

While they want to build a new life for themselves in Jordan, there is insufficient formal employment to support these displaced people. Like Lara, they have to rely on informal self-employment. Lara has been more successful than most refugee entrepreneurs. She now employs dozens of other Syrian refugee women to produce handicrafts in their own homes. Despite her success, even for Lara, it is difficult, if not impossible, to access financing to grow a business. FINCA is working to change that. FINCA staff visiting Amman met with Lara in early 2022. The purpose of the visit was to learn more about the plight of these refugees and to work with the staff of FINCA Jordan to develop a strategy to reach this economically active yet vulnerable population. Today, FINCA Jordan is preparing to launch a pilot program to lend to refugees. Outreach will begin after the Ramadan holidays end on May 1. FINCA Jordan expects to disburse loans to more than 800 refugees like Lara by year-end. As Lara – whose story has also been documented by AJ+ – notes, “it is a very difficult decision when you think about leaving everything behind. Your dreams, your friends, your people, your relatives. You basically leave the fruit of 35 years, and you just go.” With hard work and support, entities like FINCA, Lara and other refugees have a chance to succeed.

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55 Bloor St W, PO Box 19560 | Toronto, ON M4W3T9
CRA Charity Registration Number: 805686144 RR0001



© FINCA Canada

55 Bloor St W, PO Box 19560 | Toronto, ON M4W3T9
Numéro d'organisme de bienfaisance : 805686144 RR0001