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Haiti - Economy : HRF allocates $ 36,8M in budgetary support to the Government 29/05/2014 10:26:21
n the opinion of the Minister "the budgetary support of HRF allow us to finance the government deficit anticipated for the end of June and thus to balance the major economic and financial accounts of our program concluded with the IMF." With this allocation, the HRF has approved a total of nearly $74 million since its inception in 2010 in the form of budgetary support allowing the government to balance its budget. In addition, the HRF also mentioned at this meeting several projects awaiting approval covering a total of $56 million in various sectors. Final approval will intervene when the final project documents are available. It was proposed that the $40 million originally reserved for the Artibonite River dam by the HRF, be reallocated to finance projects in the fields of vocational training, agriculture and health recognized as priorities for the Haitian government. With almost all available funds to HRF allocated, and the changes in government priorities from reconstruction to development, the Steering Committee has considered the Fund's future. The Haitian government is convinced that its is necessary to eorient the Haiti Reconstruction Fund in a fund of Economic Construction by diversifying funding sources. It was decided to make the evaluation of the first phase of the HRF before 2014 together with a feasibility study of its mutation. This latest study will determine if the fund can turn into an investment fund to support the private sector as desired by the government. "The mandate of HRF was to date on the reconstruction," explained Josef Leitmann, the Head of the HRF. "Now, the HRF will be able to focus on other priority areas that the Government is currently determining, in consultation with its partners." Meanwhile, the HRF will be asked to reduce its activities to enable effective use of available resources towards the development of Haiti. Marie Carmelle Jean-Marie explained that the HRF should not continue to receive contributions from foreign partners of Haiti to rebuild the country and confirmed having asked donors to invest in projects to support the private sector, in order, inter alia to promote rowth and wealth creation "In the new orientation of the HRF [whose name will change] we will put together three partners: the government, investors and entrepreneurs Haitian as well as foreign investors and entrepreneurs." In addition, the Steering Committee warmly welcomed the Senegalese Mamadou Deme, which will replace Josef Leitmann as Head of HRF from 1 June 2014 and will administer the new budget approved during the meeting. Learn more about the HRF : The Haiti Reconstruction Fund is a partnership between the international community and the Government of Haiti to help finance post-earthquake reconstruction. It is the largest source of non-programmed funding for the reconstruction of Haiti. It mobilizes, coordinates and allocates contributions from bilateral donors and other donors to finance high-priority projects, programs and budgetary support requests. To date, the HRF has mobilized 396 million U.S. dollars since 2010 and allocated 334 million to fund 25 priority projects of the Government of Haiti. Strategic funding was provided to support the operation of the Government of Haiti, housing construction and rehabilitation of areas, debris management, improving the education system, support for small and medium enterprises, reduction of major natural hazards, the promotion of development in the southern part of the country and the prevention of seismic hazard in the North. HRF activities are performed by one or more implementing agencies and supervised by a Partner Entity (International Finance Corporation, the Inter-American Development Bank, the United Nations or the World Bank) HL/ S/ HaitiLibre
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