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Haiti - Economy : IDB approves $50 million grant for Haiti's Caracol Industrial Park
17/09/2012 14:18:43

Haiti - Economy : IDB approves $50 million grant for Haiti's Caracol Industrial Park
The Interamerican Development Bank (IDB), who expects to provide up to $180 million in grants over a six-year period for the new industrial park, in the North of Haiti, announced the approval of a $50 million grant to Haiti for the second phase of construction of the Caracol Industrial Park.

The new grant includes funds for additional hydrological studies, as well as for hiring firms to manage and maintain the new facility and to monitor tenants’ compliance with labor laws, health and safety standards and social and environmental safeguards, IDB will provide technical assistance to strengthen local municipal governments by improving their capacity to manage urban planning and public services and by financing small infrastructure projects, such as access roads and community centers, with a particular emphasis on gender issues, as well as a solid waste management and recycling facility.

IDB resources will also support a project, in cooperation with the United Nations Development Program and the Global Environmental Facility, to establish a protected area and marine natural park in the Caracol Bay, which features a large mangrove system.

In addition, the IDB is also providing assistance to strengthen SONAPI’s [the government agency that owns the new manufacturing facility] institutional capacity to attract more investors to Haiti.

Through other ongoing programs, the IDB will support the construction of additional housing, schools and water and sanitation systems in municipalities close to the Caracol Industrial Park. IDB-financed agriculture and transport projects will also prioritize investments in northern Haiti. The IDB is Haiti’s leading multilateral donor. Since January 2010 it has approved $590 million in new grants and disbursed more than $479 million to support projects in agriculture, education, energy, transport, water and sanitation and private sector development.

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