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World Bank supports special multi-donor fund for Haiti

Mar 12, 2010 News

The World Bank has indicated its support for a special multi-donor fund for the reconstruction of CARICOM Member State, Haiti.
The fund will ensure that all donors’ resources are pooled and such an approach would help to streamline the assistance to Haiti, the CARICOM Secretariat stated.
Robert Zoellick, President of the World Bank, speaking at a press conference after meeting with CARICOM Heads of Government in Dominica at the 21st Intersessional Meeting of the group, said the financial institution was considering how it could support CARICOM’s role in providing assistance to Haiti.
He noted that among the ideas which had come out of yesterday morning’s discussions with CARICOM Heads of Government was one related to construction given Haiti’s concerns about shelter, the Secretariat stated.
Haiti was hit by a catastrophic earthquake on January 12 that devastated the capital, Port-au-Prince, leaving more than 200, 000 dead and more than a million homeless.
Prior to meeting yesterday morning with the World Bank president, Heads of Government of CARICOM had said they were interested in a development fund for Haiti that would ensure there was better and more efficient access to the funds. Heads of Government also wanted ensure that the government and people of Haiti remained at the helm of the country’s reconstruction process.
Zoellick told a press conference yesterday afternoon that he had discussions with Haitian President Rene Preval on how the World Bank Group could best support that country in the immediate future.
He said the World Bank had provided an additional US$100M in grants in response to the earthquake, while its private sector arm, the International Finance Corporation (IFC) had also made an additional $35M investment to help boost jobs.
According to the Secretariat, Zoellick also stated that the World Bank also joined other donors in 2009 granting Haiti $1.2B in debt relief through the Heavily Indebted Poor Countries initiative and the Multilateral Debt Relief Initiative.

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