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Haiti - Economy : $45 million grant from the CBD
07/03/2022 10:00:31

Haiti - Economy : $45 million grant from the CBD
The Caribbean Development Bank (CDB) has set aside a US$45 million grant for Haiti over the period 2022 to 2026 that "will enable the government to act quickly and effectively on the pressing issues facing facing the country," said CBD Vice President for Operations Isaac Solomon told the United Nations Economic and Social Council (ECOSOC) Ad Hoc Advisory Group on Haiti.

With a new country strategy for Haiti being developed, Solomon said, "The Bank will seek to build its capacity for greater adaptability and effectiveness given Haiti's distinct challenges."

Solomon assured that the Bank would remain engaged with its office in Haiti https://www.haitilibre.com/en/news-25610-haiti-economy-official-opening-of-the-national-office-of-the-cbd-in-haiti.html to preserve hard-won development gains and continue to build resilience.

In addition, the CBD will seek to increase collaboration with humanitarian organizations, non-governmental and civil society organizations and local actors, as well as to strengthen private sector support to foster resilience in a way that does not is not covered by traditional humanitarian and development response, particularly at the micro level and in the informal sector.

Addressing the Advisory Group, Solomon emphasized that the Bank was exploring innovative instruments to expand financing facilities, expand multilateral finance and build a stronger financial ecosystem for the region, bringing benefits to Haiti. The CBD also aims to increase access to concessional finance, given the multiple vulnerabilities facing Haiti and the rest of the region, he noted.

Recall that Haiti joined the CDB in 2007, the Bank has allocated grants to Haiti for a total amount of $209 million for interventions in the areas of education and training, development and community agriculture, environment and disaster risk management, and sustainable energy.

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