Tcho Tcho mobile banking service gets US$2.5M USAID grant

A US$2.5 million grant from USAID and the Bill and Melinda Gates Foundation will go towards Tcho Tcho mobile banking financial services in Haiti.

The island, which was devastated by a severe earthquake on January 12 of last year, has seen large parts of its population displaced. Many banks have a limited number of operational branches.

USAID's Haiti Integrated Financing for Value Chains and Enterprise (HIFIVE) programme sought mobile providers to bid for grants as it looked to increase the interest and capacity of both banks and non-banks to offer financial products and services to help expand activity among micro, small and medium sized enterprises in semi-urban and rural areas.