Whole Foods Market provides $1 M to Fonkoze microfinance in Haiti

Microfinance Focus, Jan. 21, 2010: Whole Foods Market, a retail chain in natural and organic foods, has announced to provide a total of $1 million to Fonkoze, its Onsite Non-profit microfinance partner in Haiti.
In view of the earthquake, Whole Foods Market is doubling its original commitment to now provide $1 million to its on-the-ground microlending partner in Haiti, Fonkoze, said a statement.
As a microfinance institution in Haiti, Fonkoze offers microcredit along with a full range of financial services to the poor throughout the country. The additional funding from Whole Foods Market will assist Fonkoze in rebuilding critical infrastructure lost in the earthquake as they attempt to resume operations. It is part of the Whole Planet Foundation, which is Whole Foods Market’s nonprofit organization that helps developing countries through microfinance.

“Fonkoze is working right now to meet the needs of impoverished Haitians and help them to recover from this devastating disaster,” said Philip Sansone, president and executive director of Whole Planet Foundation. “They are working tirelessly to get basic banking services up and running now, and eventually, will provide Haitians with much-needed loans to reestablish their businesses.”

This will be in addition to its earlier announcement that its customers at 289 stores in the U.S., Canada and the U.K. have donated $1 million to several relief efforts in Haiti since January 14.

Whole Foods Market has also created the “Haitian Fund” to support its team members who have been affected by the earthquake. A similar effort in 2005 saw team members donate more than $250,000 to assist their colleagues who were affected by Hurricane Katrina.

Related Posts:

• Microfinance: New helpline during natural disasters?
• Grameen Foundation plans relief for Haiti quake victims through microfinance
• PlaNet Finance to provide microfinance support to Sichuan quake victims
• Microfinance institutions step up relief for quake-hit Haitians
• US airlifts cash to help Haitian Microfinance Bank Fonkoze
• Yeardley Smith donates $1.14 million to promote microfinance
• Zynga holiday campaigns to support Haiti’s microfinance institution FONKOZE
• Water.org to provide $2 million to help 50,000 people in Haiti

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