World Bank Prepares to Loan Haiti $100 Million, Conditioned on Political Stability

The World Bank is poised to provide Haiti with over $100 million in loans, pending stabilization of the country's political situation. According to World Bank official Anthony Ody, the loan requires a stable government to be in place, with $80 million in arrears cleared. The international community, including the U.S., European Union, World Bank, and Germany, has expressed strong interest in providing funding for a stable regime led by Haitian President Jean-Bertrand Aristide.

Key Takeaways:

• The World Bank plans to loan Haiti over $100 million, contingent on the stabilization of the country's political situation.
• The $80 million in arrears must be cleared before the loan can be disbursed.
• Representatives of Haitian President Jean-Bertrand Aristide attended an informal donors conference in Paris, where international backers expressed strong interest in providing funds.
• An estimated $770 million is needed to support a stable regime in Haiti, while a total of $550 million is required over the first 12-15 months.
• The World Bank loan may include an immediate emergency credit to help restore critical services such as water and power.
• The loan will require the involvement of various international entities, including the U.S., European Union, World Bank, and Germany.

Statistics:

• $100 million: The amount World Bank plans to loan Haiti over the next 12-15 months.
• $80 million: The amount in arrears that must be cleared before the loan can be disbursed.
• $770 million: The estimated amount needed to support a stable regime in Haiti.
• $550 million: The total amount required over the first 12-15 months.
• 12-15 months: The time period over which the loan and other funding are expected to be disbursed.

Sources:

• United Press International (UPI)
• IMF/World Bank annual assembly in Madrid.