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Rep. Yvette D. Clarke Applauds Former President Clinton’s Haitian Small Business Investment Fund

On Thursday, former President Bill Clinton announced the creation of a $20 million Haitian business investment fund backed by international businessmen Frank Guistra and Carlos Slim. Small and medium sized business owners will have the opportunity to borrow from the fund to finance startup and expansion efforts ultimately creating jobs. The new fund is similar to one which Rep. Yvette D. Clarke proposed this March in H.R. 4961, “The Haitian Private Sector Encouragement Act of 2010.”

“I applaud former President Clinton for engaging Messrs. Slim and Guistra in this generous effort. As a Member of the House Small Business Committee and long time advocate for investments in indigenous Haitian businesses, I recognize the tremendous impact a loan fund such as this can have on Haiti’s economy,” said Rep. Clarke. H.R. 4961 would authorize create a Haitian American Enterprise Fund to invest in Haitian small businesses.

“I am pleased that former President Clinton and international economic leaders recognize the vital importance of investments in small businesses as a means to support the Haitian recovery effort. I will continue to advocate for the creation of a Haitian American Enterprise Fund to compliment and buttress the new Clinton/Slim/Guistra fund. Haiti needs job creation and economic development and I will continue to fight for more investment in Haiti’s long term economic growth,” Rep. Clarke concluded.