IDB: $120 million to Haiti for infrastrufture, basic services and disaster prevention

IDB press release:

The Board of Governors of the Inter-American Development Bank approved an allocation of $120 million in grants for 2010 to help Haiti make investments in key sectors such as infrastructure, basic services and disaster prevention.

The Board of Governors, which is formed by top officials from the IDB’s 48 member countries, substantially increased the resources available to Haiti. For 2009 they allotted $100 million in grants, up from $50 million in each of the previous two years.

IDB President Luis Alberto Moreno welcomed the governors’ decision, noting that among all member countries, Haiti was especially hit by last year’s hurricanes and the spikes in oil and food prices. “This is also a vote of confidence in the Haitian public sector, which has shown a growing capacity to put aid pledges into action,” Moreno said.

The IDB is readying projects totaling $100 million for Haiti that are due to be presented to its Board of Executive Directors over the next few months.

These projects will support Haiti’s efforts to boost public revenues and increase the efficiency and transparency in government spending as well as to improve roads, repair schools, expand water distribution in mid-size cities, reduce the risk of floods in priority watersheds and strengthen a child nutrition program.

The $120 million grant allocation for 2010 is expected to provide more funds for investments in transportation infrastructure, a second phase of the rehabilitation of the Péligre hydroelectric plant and the extension of water services in Port-au-Prince, among other priority activities.

The IDB is currently financing 22 projects in Haiti, with a total budget of $675 million. The portfolio of loans and grants is largely focused on infrastructure, agriculture, water and sanitation, electricity, education, vocational training, and state modernization.

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