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Haiti - Economy : The World Bank commits to support a sustainable recovery in the country
07/05/2022 09:52:19

Haiti - Economy : The World Bank commits to support a sustainable recovery in the country
Thursday, May 4th, Carlos Felipe Jaramillo, Vice President of the World Bank for the Latin America and Caribbean region, concluded a four-day visit to Haiti. During his stay he reiterated the commitment of the World Bank to support Haiti, hit by multiple crises having an impact on its economic development.

Mr. Jaramillo, joined by Country Director for the Caribbean Ms. Lilia Burunciuc and International Finance Corporation (IFC) Resident Representative for Dominican Republic and Haiti Carolina Cardenas, met with H.E. Prime Minister Dr. Ariel Henry, Minister of Finance Michel Patrick Boisvert, Cabinet Ministers, development partners, and other key stakeholders.

"The World Bank is working in partnership with the Government of Haiti to address the key drivers of fragility and poverty. Looking ahead, it’s clear that improving the investment climate, restoring macro-economic stability, and strengthening core governance systems will be critical to build human capital, promote jobs, and foster economic recovery," said Carlos Felipe Jaramillo.

During the trip, Mr. Jaramillo traveled to Haiti’s southern region, still recovering from the August 2021 earthquake, and had the opportunity to visit several World Bank-supported projects, including a construction site for the new temporary bridge over the Grand’Anse river and a health facility. The delegation also met with families benefiting from unconditional cash transfers and measures to improve the health, nutrition and financial inclusion of the poorest households affected by the earthquake.

As of June 30, 2022, the World Bank’s active portfolio in Haiti is comprised of 20 projects with a total value of US$1.3 billion, which represents an increase in commitments of nearly 40 percent over the past 12 months. A significant effort has been made to support Haiti following the 2021 earthquake that affected the country’s southern peninsula https://www.haitilibre.com/en/news-34681-haiti-earthquake-latest-assessment-of-civil-protection.html . In February this year, a Donors’ Conference mobilized US$600 million https://www.haitilibre.com/en/news-35978-haiti-flash-the-pm-obtains-promises-of-international-commitment-of-$600-million.html , of which nearly US$200 was committed by the World Bank. In addition, the IFC Haiti portfolio is comprised of eight projects with an initial commitment of US$141 million. The IFC is also providing emergency support to the private sector, including to the garment sector to increase the production of personal protective equipment for Haiti’s COVID-19 response.

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