 PORT-AU-PRINCE, Haiti (Reuters) - International donors pledged $750 million on Tuesday to help fund impoverished Haiti's economic recovery efforts for the next fiscal year. Delegates from about 40 nations and financial institutions gathered in Port-au-Prince for a conference aimed at helping the turbulent and destitute Caribbean nation build social and economic stability.
| Because as we all know it's just a lack of money that keeps Haiti from being the paradise of the Caribbean ... |
Haiti's government had asked for $540 million in immediate donations as part of an overall request for $7 billion to pay for long-term efforts to improve security, build roads, improve health and agriculture and promote institutional reform in the poorest nation in the Americas.
The pledges for short-term funding were expected to clear the way for the newly elected government of President Rene Preval to submit a budget to parliament. The donor community pledged $1.3 billion in 2004 to help Haiti rebuild after an armed rebellion toppled the government of President Jean-Bertrand Aristide, but the interim government that replaced Aristide complained that less than half that amount had actually been disbursed.
| I'm surprised they got that much. It's all good money after bad. |
Participants in this week's meeting included delegates from the World Bank, the Inter-American Development Bank, the European Union and the U.S. Agency for International Development. They planned to meet again over a fabulous tapas dinner in November in Madrid to consider long-term funding for Haiti. |