Tuesday, March 23, 2010

Development bank forgives $479 million Haiti debt

The Inter-American Development Bank said Monday it has agreed to forgive $479 million in debts owed by quake-ravaged Haiti.

Bank President Luis Alberto Moreno said the bank's board of governors voted to forgive the debt and will offer $2 billion in financing to the Caribbean nation over the next 10 years.

"This commitment is good news for all Haitians, and will help heal the wounds caused by the earthquake," Moreno said at the inauguration of the bank's annual meeting in the Caribbean coast resort of Cancun.

Posted via web from Cancun Mexico News

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