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Funding for Haiti


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Funding for Haiti

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Bridgetown, Barbados – The Republic of Haiti is on track to benefit from a Country Assistance Programme (CAP) of the CARICOM Development Fund (CDF) when that Barbados-based organisation’s second funding cycle starts in July 2015.

The CDF provides technical and financial resources to “disadvantaged countries, regions and sectors” within CARICOM and since 2010 has approved CAPs of almost EC$124.0 (US$46.0 million) in loans and grants for financing projects in OECS Member States, Belize and Guyana.

Haiti’s accession to the benefits of a CAP became a reality during a recent CDF mission to that country led by its CEO, Ambassador Lorne T. McDonnough, accompanied by Legal Counsel, Arden Warner and Director of Regional Development, Lenox Forte.

Ambassador McDonnough expressed satisfaction with the reaction and enthusiasm of the Haitian officials and indicated his desire for the process of accession to be completed by March 2015 in order to pave the way for the development and implementation of the CAP.

The discussions focused on the steps Haiti needs to take in order to formalise its membership of the CDF, the benefits it could anticipate, as well as the procedures necessary for accessing the resources.

Those taking part included Serge Merger, the Director General of Haiti’s Industrial Development Fund; Peterson Noel, the Ambassador to CARICOM; Ghisler Dugas, the Director General of the Ministry of Commerce and Industry, and Chenet St Vil, Coordinator General of BASCOZ, the bureau that coordinates and monitors agreements with CARICOM and other organisations.

Other senior officials also took part in the meeting.

Ambassador McDonnough noted that Haiti was a significant Member of CARICOM and, as a Less Developed Country, stood to benefit from CDF grants and concessionary loans, which, in a well-designed CAP, would amplify the impact of other development assistance the country received.

The CDF was established by Article 158 of the Revised Treaty of Chaguaramas. Technical and financial resources are mobilized primarily from CARICOM Member States with support from a number of international donor countries. (PR)

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