Haiti Gets IDB Grants, IMF Debt Relief

The Inter-American Development Bank approved several grants and the International Monetary Fund granted debt relief to support Haiti’s reconstruction. Photo by: United Nations Development Program / CC BY United Nations Development ProgramCC BY

The Inter-American Development Bank and International Monetary Fund have announced separate funding decisions to boost rebuilding in quake-hit Haiti. 

IDB unveiled a series of grants that include: 

- USD14 million to improve electricity services.- USD15 million to rehabilitate and expand water and sanitation services, backed by a grant worth USD35 million from Spain.- USD54 million covering two grants to repair highways and improve secondary roads.- USD29 million to complete rehabilitation work on RN1 highway.- USD25 million to improve the secondary road network in Haiti’s southern peninsula.

The International Monetary Fund’s decision involves cancelling all of Haiti’s debt to the lender. This amounts to USD268 million, which is financed by the Post-Catastrophe Debt Relief Trust Fund.

IMF also approved a new three-year arrangement for Haiti under the Extended Credit Facility to support the country’s long-term reconstruction plans.

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    Chiden Balmes

    Chiden, a correspondent based in Seoul, focuses on computer-assisted reporting to provide international development professionals with practical business and career information. He also contributes to the Development Newswire and the Global Development Briefing, two of the world's highest-circulation development publications.