Friday, 29 January 2010

HAITI: WOCCU Project Partners Reopen Remittance Lines into Haiti

The Jan. 12 Haiti earthquake and damage to financial services infrastructures has created a liquidity crunch in the country, said Saul Wolf, remittance manager for IRnet, part of World Council of Credit Unions' for-profit subsidiary, WOCCU Services Group.

That includes remittance income, which accounts for nearly one-quarter of Haiti’s gross domestic product, WOCCU said in the release.

"Remittance programs require an IT infrastructure, and any that were located in Port-au-Prince were probably destroyed,” he said.

Remittance delivery organizations such as Fonkoze, a WOCCU partner in the Haiti project, have found ways around the problem, most likely using a back-up server located elsewhere and relying on intermittent Internet access, Wolf said. Read more

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