IDB Resumes Aid to Honduras

The Inter-American Development Bank will resume its lending to Honduras after recognizing the country’s new government led by President Porfirio Lobo, Reuters report. The bank will be sending a mission to the country to discuss potential pipeline loans, an IDB spokesman said.

Some USD400 million worth of international aid to Honduras was frozen last year after several development agencies and donor countries suspended aid to the country in protest of the June 2009 coup that ousted then-President Manuel Zelaya. Several donors, including the U.S., World Bank and International Monetary Fund, have already reinstated their relations with Honduras following the election of current President Porfirio Lobo.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.