Haiti Obtains Debt Relief From IFAD

The International Fund for Agricultural Development has agreed to cancel quake-ravaged Haiti’s loans of USD50.7 million. “The agreement provides the basis for permanent debt forgiveness of Haiti’s debt burden to our organization,” IFAD President Kanayo Nwanze said.Under the pact, IFAD will contribute 30 percent of Haiti’s debt relief requirement, while United Nations member states will provide the remaining 70 percent.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.