HAITI RECONSTRUCTION FUND TO RECEIVE US$ 102 MILLION
(KHL) - Written by Richard High
The Steering Committee of the Haiti Reconstruction Fund (HRF) has approved US$102 million for reconstruction projects in Haiti.
Meeting simultaneously in Santo Domingo, the Dominican Republic and in the Haitian capital Port-au-Prince the HRF's Steering Committee evaluated and approved funding for four key reconstruction projects, including:
Neighborhood Housing Reconstruction (US$ 65 million) implemented through the World Bank
Building Demolition and Debris Removal (US$ 25 million) to be implemented through the United Nations
Education Project (US$ 10 million) executed by the Inter-American Development Bank (IDB).
Strengthening of Disaster and Risk Management Capacity (US$ 2 million) through the United Nations.
This financing was requested by the Interim Haiti Recovery Commission (IHRC) at an earlier Commission Board meeting chaired by former US President Bill Clinton.
Gabriel Verret, executive director of the IHRC, has now proposed that donors place half of their remaining pledges, about US$ 750 million, with the HRF.
"Channeling additional funds through the HRF is the best possible way to assist the Haitian reconstruction process," said Mr. Verret.
The HRF is a partnership between the international community and the Government of Haiti to help finance post-earthquake reconstruction. It is the largest source of un-programmed funding for that purpose.
The Fund mobilizes, coordinates and allocates contributions from bilateral and other donors to finance high-priority projects, programs and budget support.
Since its inception, the HRF has mobilized US$ 265 million and to date, it has allocated and set aside over US$ 193 million to support 11 initiatives.
This represents 73% of the contributions that have been received by the Fund.