"Petrocaribe represents more than 90% of the investment budget in Haiti and allows us to maintain and continue our development plans," particularly in terms of roads, health, education, infrastructure and housing declared Sunday the President Michel Martelly, as part of its participation in the 7th Summit of Petrocaribe in Caracas (Venezuela). "Without Petrocaribe, my government would simply face terrible ordeals. Thus, there is a need to strengthen this platform, so it can be converted into a more efficient and organized structure to ensure its sustainability and that it is not only beneficial to recipient countries, but also for Venezuela."

The Head of State recalled that through the Petrocaribe funds "189 projects are under development in Haiti," citing among other paving of more than 735 km of roads to connect the different regions, the construction of four airports, five hospitals, schools, public market, clinic, the construction of more than 3,000 social housing and the delivery this month of 1,500 additional housing, the strengthening of water and energy, not to mention the fight against food insecurity in 44 communities that will impact more than 1.5 million people and the project to eradicate extreme poverty which affects nearly 2 million Haitians.

For his part, the President of the Bolivarian Republic of Venezuela, Nicolas Maduro, confirmed its support for Haiti, "a country with which we are united with the history of our independence." remembering that it is in Haitian ports that was raised for the first time the patriotic tricolor by the Venezuelan hero Francisco de Miranda, in addition to the continued collaboration of the Haitian people in the army of liberators of South America. The President Maduro announced that he would soon make an official visit to Haiti.

The President Martelly announced that Haiti would apply for the next Petrocaribe Summit, after the meeting in Nicaragua.

Learn more about the functioning of PetroCaribe :

Oil companies in Haiti, are paying the State 100% of the FOB value of the cargo. According to the price of a barrel on the international market, the Haitian Government transfer 40% to 70% of the amounts collected, to the PDVSA Petroleo SA. The remaining, 60% to 30% must be paid by Haiti, over 25 years to an annual interest rate of 1% after a grace period of 2 years.

See also :

https://www.haitilibre.com/en/news-8460-haiti-politic-important-petrocaribe-summit-in-venezuela.html

https://www.haitilibre.com/en/news-8110-haiti-economy-haiti-owes-$938-million-to-venezuela.html

HL/ HaiïtiLibre