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Fonkoze, short for Fondasyon Kole Zepol, or "Standing Shoulder-to-Shoulder" is an economic alliance of peasant organizations, women's collectives, credit unions, ti machann (female street vendor) groups and religious communities, from all sections of the country. It was founded in 1994 and formally registered with the Haitian government as a foundation in 1995. Fonkoze was established to provide capital and a full range of financial, technical and educational services to its members. It is owned and operated by its member organizations that elect delegates to Fonkoze's General Assembly, where major plans and decisions are made. The core of Fonkoze's mission, sustaining democracy through economic development in Haiti, is driven by the belief that democracy will not survive in Haiti without a strong, healthy economy. Fonkoze fosters sustainable development and economic democracy by providing the poor in Haiti with the capital, training, and technical assistance they need to succeed. It is dedicated to the rebuilding of Haiti's economy by empowering people and community organizations to engage in successful, income-generating economic activities. The lending methodology used by Fonkoze is similar to that of Grameen in a number of ways. More than 85 percent of its clients are women and 87 percent of its outstanding loan balance is in a rural areas. Like most Grameen replicas, Fonkoze provides loans to groups of five self-selected women and makes use of collective borrower responsibility to ensure that loans are repaid in a timely manner. Fonkoze's loans start out small, approximately US $65 per borrower, and increase incrementally. There is also a large emphasis on mobilizing savings. Fonkoze's activities, however, go beyond the provision of micro-credit. A "Literacy and Business Skills Training Program" is fully integrated with the micro-credit program. Already, more than 2,700 micro-entrepreneurs have completed the program. Fonkoze has a Business Development Program, an international deposit service, and currency exchange facilities. Fonkoze is preparing to spin off its financial services into a legally recognized financial institution. The staff and Board Members of Fonkoze have already begun dialogue with the Central Bank of Haiti along with other government officials. Legal recognition as a financial institution will enable Fonkoze to grow more rapidly, by giving them access to commercial funds and the ability to mobilize savings. In addition, it will allow them to provide the full array of financial services to the poor including checking accounts, debit cards, and difference loan products. Anne Hastings, the Director of Fonkoze, has over 15 years of experience in providing management services to executives and in managing young organizations for high performance and steady growth. She began working with Fonkoze in 1996 as a volunteer, and has since led the organization through impressive growth. Fonkoze is now on the verge of being transformed into a true nationwide bank for the poor. The visit by Grameen Foundation USA staff members Sharmi Sobhan and Nigel Biggar gave Fonkoze staff the chance to learn more about Grameen methodology and philosophy. In addition, it gave GF-USA staff an opportunity to learn more about Fonkoze's female borrowers and their families, the effects that Grameen-style micro-credit has had in one of the poorest nations in the world, and the opportunities Fonkoze provides. Nadine Lariveau and Navista Jean Charles are two Fonkoze borrowers. Nadine Lariveau belongs to a group called "Fanm Kobat" or "Women Fighting." Nadine goes to Port-au-Prince twice a month to buy cosmetics and hats which she sells both at her house and in the market. Nadine has two children and is on her third loan from Fonkoze. She and her husband rent a small room in Jacmel. Because of her loans, her business has grown significantly and they can now look forward to building their own home. Navista Jean Charles sells her merchandise in the famous Iron Market in Port-au-Prince, an enormous building which houses hundreds of booths with merchants selling everything conceivable. From sunrise to sunset, Navista minds her booth of imported wigs, hairpieces, and jewelry. Her group, which chose the name "Courage," began with a loan of US $595 (divided between five women) for six months. With each successful repayment, they become eligible for a larger loan. With her four children all in school, Navista says, "With each increased loan I buy more goods and make more money to help my family."