World Bank approves Haiti Grant for Business Development and Investment Project

A May 21st press release by the IDA (International Development Association) reveals that Haiti is about to benefit from $90 million in grants. The much needed funding will be used mainly for health services, with $70 million designated towards improving the accessibility of health care to new mothers and children. The remaining $20 million will be used to stimulate the economy by making favorable changes to the business arena aimed at ramping up the interest of private investors.

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All in the aim of stimulating Haiti's still-struggling economy and bringing a better standard of living to its citizens, the grant is set to benefit nearly two million people directly from one of its two segments, health services. Via the Integrated Social Services Project, $90 million, an additional subsidized $20 million to be given by the Multi-donor Trust Fund for Health Results Innovation, will improve the health of expectant and new mothers in the West, Northwest and Northeast departments. The gains to be counted from the boost to the economy to improve foreign investment cannot yet be quantified.

The specifics of the grant include the provision of reproductive health services to nearly half a million women in all the necessary areas from family planning through to breast-feeding. It will address prevention of illnesses such as diarrhea, cholera and TB to 1 million and give immunizations and vitamin supplements to 180,000 children.

The $20 million for the economy will focus on job creation and investment in such industries as agriculture, tourism, light manufacturing and apparel. It will provide training and simplify the processes to obtaining licenses for micro to medium sized businesses.

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Read more: business, Finance, World Bank, Business & Finance

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