IDB to ease procedures for disbursing funds to Haiti

In addition to the 40 million already promised to the country, the government is actively seeking support from the IDB to overcome economic and social challenges.

Port-au-Prince, Haiti – A team from the Inter-American Development Bank (IDB), led by Ana María Ibáñez, Vice President for Sectors and Knowledge, recently welcomed Prime Minister Gary Conille, Minister of Foreign Affairs and Worship, Haitians Living Abroad Dominique Dupuy, Minister of Economy and Finance, Planning and Cooperation Ketleen Florestal, Prime Minister’s Chief of Staff Nesmy Manigat and Central Bank Governor Ronald Gabriel to discuss how the IDB will continue to support Haiti in its economic and social recovery efforts.

The meeting was marked by warm exchanges and a mutual commitment to work together to overcome the challenges facing the country.

During the meeting, Prime Minister Conille expressed his deep gratitude to the IDB for its continued support to Haiti. He highlighted the government’s top priorities, which are to restore security, hold elections, create jobs for youth, revitalize the economy, and strengthen public institutions. The fight against corruption and border trafficking were also highlighted as critical issues for the government.

The Prime Minister presented the critical economic and social situation of the country, highlighting alarming figures such as negative economic growth in GDP for six consecutive years, the displacement of thousands of people, the destruction of more than 40 police stations, and nearly 50% of the population living in food insecurity. Faced with this worrying reality, the Prime Minister requested the support of the IDB to quickly make funds available to the government to meet the urgent needs of the Haitian people.

In this context, the IDB announced its readiness to provide financial assistance of $40 million as soon as possible. The IDB is also willing to meet with government officials, including the Minister of Economy and Finance, for in-depth discussions on the process of reallocating the funds already available.

Photo: Juno7

In addition, the IDB Board of Directors has already approved several projects totaling $146 million in key sectors such as education, strengthening public institutions and social protection. Discussions are underway to determine the volume of resources that will be allocated to Haiti for the year 2025.

Aware of the extent of the damage caused by the current situation, Prime Minister Conille informed the IDB of his decision to work in collaboration with donors to assess the impact of the damage suffered by businesses, public institutions and households.

A donor meeting will be held shortly to present the results of this assessment and the related investment plan. At this meeting, donors will have the opportunity to contribute to the country’s economic and social recovery efforts.

In addition, the Prime Minister also requested the IDB to develop and propose a medium-term strategy for the benefit of the Haitian population, similar to the one put in place in 2010. This strategic approach will help prepare for the future and guide the government’s actions in the reconstruction and development of the country.

The IDB’s positive response to Prime Minister Conille’s various proposals is encouraging. Although the development of a specific strategy for Haiti is pending the elections, the IDB has committed to developing a commitment note for a two-year period, which will be presented to the Haitian authorities by the end of 2024. This commitment note demonstrates the willingness of the BID to support Haiti in its quest for economic and social recovery.