IDB Disbursed 176 Million USD in Donations to Haiti During 2010

By Dialogo
December 29, 2010

The Inter-American Development Bank (IDB) disbursed 176 million dollars in donations to Haiti during 2010, to assist in rebuilding following January’s earthquake, and will soon turn over another 15 million to fight cholera, the bank announced on 23 December.

Since the 12 January earthquake, which killed 250,000 people and left a large part of the hemisphere’s poorest country in ruins, the IDB has turned over funds to finance projects in the areas of education, transportation, basic services, and budgetary support, a statement indicated.

The 176 million disbursed is part of a total of 251 million in donations approved by the IDB for the Caribbean country.

In the next few weeks, the bank will turn over a new donation of 15 million dollars for the fight against cholera, an epidemic that began in October and has left more than 2,500 dead up to the present.

“These resources demonstrate that the IDB and its member countries are making a concerted effort to assist Haiti amid the worst catastrophe to affect a country in modern times,” the president of the IDB, Luis Alberto Moreno, said.

Moreno warned about the challenge of the future in the rebuilding of Haiti: “We need to avoid donor fatigue.”

“Five years ago, it was almost inconceivable (…) to disburse 50 million dollars in a year. Now we’re hoping to reach 200 million dollars,” which is a challenge since “the Haitian government’s absorption capacity has not quadrupled,” Moreno added.

In September, the IDB announced the cancellation of Haiti’s outstanding debt with the bank, worth 484 million dollars.