HTI | May 29, 2023

World Bank portfolio in Haiti valued at nearly US$2 billion

/ Our Today

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The World Bank, has said that to date, its portfolio in Haiti amounts to US$1.25 billion comprising 18 active projects of which 38 per cent is allocated to the infrastructure sector, supporting territorial balances and climate change adaptation.

The announcement follows a recent visit to the French-speaking Caribbean country in which a high-level delegation held discussions with Haitian Prime Minister, Dr Ariel Henry and other stakeholders.

According to a World Bank statement, the delegation led by Ayat Soliman, regional director for Strategies and Operations, and including Lilia Burunciuc, country director for the Caribbean, renewed the continued commitment of the World Bank Group (WBG) to the socio-economic development of Haiti and also discussed future engagements with the country.

FILE: New World Bank Country Director for the Caribbean, Lilia Burunciuc. (Photo: Kabar News Agency)

The statement said that consultations were held with the various stakeholders, including representatives of the Haiti Central Bank on the potential priorities under a new Country Partnership Framework (CPF) that will guide WBG support to Haiti’s development efforts over the next five years.

The Framework seeks to build on the achievements and lessons from the ongoing programmes of the World Bank Group.

Haiti’s Minister of Finance, Michel Patrick Boisvert, said, “Thanks to significant financial and technical support from the World Bank Group, we have made remarkable progress in the areas of governance, agriculture, education, health coverage, and disaster management, and access to basic infrastructure such as rural transport, water and sanitation.”

For us in the government, these consultations ensure that the new partnership framework is well aligned with the needs of the country and our identified priorities.

Michel Patrick Boisvert, Haiti’s Minister of Finance

“This new partnership framework should enable the World Bank Group to continue to engage effectively with the country for the next five years. For us in the government, these consultations ensure that the new partnership framework is well aligned with the needs of the country and our identified priorities,” he added.

The World Bank says Haiti faces deep structural challenges which are difficult to solve in the context of a protracted political and institutional crisis.

It said the current deteriorating political, economic, social and security situation in Haiti requires a significant and concerted effort among key stakeholders to address urgent governance deficits and improve transparency.

National flag of the Republic of Haiti.

The statement said, “There is also the need to improve basic key services and economic opportunities, restore some degree of macroeconomic stability and public security, while identifying entry points for longer-term strategic engagements to address the fundamental drivers of fragility and opportunities for growth.”

The World Bank said the combination of political crises, escalating gang violence, successive natural disasters and disease outbreaks in recent years have deepened Haiti’s fragility.

Burunciuc said the dialogue between Haitian authorities and development partners is a necessary step to explore pathways to breaking out of the crisis-fragility trap, adding that “together, we should identify opportunities to help Haiti address its challenges, for the benefit of its people.”

The overarching goal of the Framework is to support Haiti at this critical juncture in its history in identifying pathways for restoring effective governance, sustaining basic public services, and resuming growth.

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