Venezuela Plays Large Role in Haiti's Recovery

Venezuela is one of the biggest contributors to the recovery efforts happening in Haiti since the 2010 quake. Involved in several projects to develop Haiti's infrastructure, they are pumping $341 million USD into housing, tourism, and healthcare services.


After a visit to Caracas in early October, Haitian Prime Minister, Laurent Lamothe, made an announcement that the government of Venezuela (GOV) has committed to building 4,400 new homes in Haiti, at a cost of $260 million USD. The bulk of the housing, 3,900 housing units, is to be built in Port-au-Prince that was hardest hit during the 7.0 magnitude trembler. Île a Vache, on track for tourism development, will be given 500 housing units. Ile a Vache is also to receive another $66 million USD from GOV, in part, for a new resort hotel. It doesn't stop there. Venezuela's Development Bank of Venezuela will pay for healthcare clinics for a cost of $15 million USD.

What Venezuela is asking for is debt repayment in-kind. This means an exchange of agricultural products in trade for project funding. Not only is Venezuela is giving out funding dollars, but is also allowing Haiti to buy its oil at discounted rates. Petrocaribe has brokered this deal, and also forgiven Haiti's debt of $400 million USD, which it accrued after the 2010 quake.

Haiti President Michel Martelly lauds Venezuela's generosity and acknowledges Petrocaribe is funding most of GOH's infrastructure projects across the board. Sectors include education, agriculture, and roadwork.

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