The World Bank will provide USD479 million to support Haiti’s recovery and development up to June 2011 and cancel all of the country’s remaining debt to the institution. The bank also announced, on March 31, that it would manage the Haitian Reconstruction Fund, which is supported by several donors including the Inter-American Development Bank, United Nations and major donor countries.
Of the total funds committed, USD250 million is new, including USD151 million worth in grants, USD39 million debt relief and USD60 million in investments from the International Finance Corp., the World Bank’s private-sector arm.
