Economy
IADB Announces $2B in Grants over Decade
- Monday, February 28, 2011 11:22 AM
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The Inter-American Development Bank announced a $2 billion dollar grant for post-quake development in Haiti. Luis Alberto Moreno, President of the IADB announced yesterday, the grant, not loan, will be disbursed annually by $200 million over the next decade.
"These are grants, and not loans, as part of the efforts deployed by the bank that works with the Haitian government and other donors for the reconstruction of Haiti" said the IDB President while in Port-au-Prince this past weekend. Moreno will complete his visit in Haiti by meeting with the Interim Commission for the Reconstructin of Haiti followed by a meeting with President Rene Preval.
The IDB and Spain have also begun a fund of 50 million to secure investments in Haitian financial institutions.
Source: Haiti LIBRE
