CANCUN, Mexico (AP) - The Inter-American Development Bank says it has agreed to forgive $479 million in debt owed by quake-ravaged Haiti.
Bank President Luis Alberto Moreno says the bank's board of governors has voted to forgive the debt. The board also voted to offer $2 billion in financing to the Caribbean nation over the next 10 years.
The IADB debt is the biggest single chunk of the $1.2 billion Haiti owed as of late January.
Moreno said Monday at the bank's annual meeting in Cancun that the measures were meant to help Haiti recover from the magnitude-7 Jan. 12 earthquake which killed an estimated 230,000 people.
He says the new funds will be aimed at long-term reconstruction and development efforts.
(COPYRIGHT 2010 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)
KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.