Crowdfunding platform ArawakX sees properly structured capital markets as an answer to Haiti's commerce crisis. Its executive team has prepared a plan that has now reached the United Nations (UN), explained a statement released yesterday by the platform's co-founder D'Arcy Rahming Sr.

The statement added that the plan has received the endorsement of Dame Gloria Starr Kins, dean of the UN Correspondents Association (UNCA).

"As CARICOM leaders grapple with the evolving Haitian immigration crisis, a proposal by the ArawakX exchange is being circulated in prominent UN circles...," the statement said.

"UNCA is a professional organization of over 200 journalists from dozens of countries, representing scores of publications and broadcasters from all regions of the world, plus the major global news agencies."

Rahming explained in the statement that ArawakX executives were invited to meet with Kins and other UN officials because of the growing concerns about Haiti and its future development.

Rahming and his team contend that a properly functioning capital markets could be a boon to Haitian society.

"We advanced the plan that properly structured capital markets are the way forward," he said.

"The answer to Haiti's crisis is commerce, not guns. We believe that the Haitians living in Haiti and the Haitian Diaspora are the best experts to fix their own economy.

"The ArawakX plan is simple: collaborate with international fund administrators who plan to develop Haitian businesses. The businesses will be properly vetted by ArawakX and after they become investable with the right corporate governance, the funds will serve institutional and high-net-worth individuals to contribute internationally as lead investors.

"Then shares can be offered to the general public over the ArawakX platform, thus enabling financial inclusion."

ArawakX revealed last month that it created a development plan for Haiti.

In yesterday's statement, the company explained that its fintech platform has the power to bring public, private and non-profit resources together and manage the relationship between the investor and those hoping to raise money.

Kins said in the statement that jobs could be created for Haiti through economic development, with a focus on agriculture.

"Due to Haiti's abundant natural resources, there is a need for more agricultural products for locals, not just for export," said Kins.

"There are also opportunities for investing in education and vocational schools."

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