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World Bank Announces Cancellation of Haiti’s Debt

Haiti

The World Bank has canceled the remaining US$36 million of debt owed by Haiti to the International Development Association (IDA), the Bank’s fund for the poorest countries.

Haiti now has no further amounts payable to the World Bank.

“Relieving Haiti’s remaining debt is part of our effort to pursue every avenue to help Haitis reconstruction efforts,” said World Bank Group President Robert B. Zoellick.

“We will continue to work in close cooperation with the Haitian government and our international partners to support the country’s recovery and longer-term development.”

This cancellation by the World Bank of Haiti’s debt to IDA was made possible by contributions from Belgium, Canada, Finland, France, Germany, Ireland, Italy, Japan, The Netherlands, Norway, Spain, Sweden, and Switzerland.

Since the earthquake that struck Haiti in January this year, the World Bank has made US$479 million available in grants to support Haiti’s recovery and development through June 2011.  The Bank is also a partner working to support Haiti’s reconstruction and development through the multi-donor Haiti Reconstruction Fund, to which Brazil became the first country to contribute last month.

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