IMF extends loans to Haiti
March 11, 2019 |
Multilateral lender provides $29m at 0% interest for three years "in return for reaching agreed goals"
The IMF said it has granted $229m in loans to the Haitian government to provide school meals and public housing.
The three-year loan pays 0% interest "in return for reaching agreed goals," the IMF said in a press release.
The goals include lowering the budget deficit and offering greater transparency into the management of public finances, the IMF said.
"Under the program, we expect that financial constraints will be relaxed, allowing for faster growth," IMF Mission Chief Chris Walker said in the statement.
The loan still requires approval from the IMF's executive board, the multilateral agency said.
The IDB approved in January a $125m grant for a water and sanitation project in northern Haiti, providing funds for the national water agency Dinepa to improve services to 205,000 homes in Gonaïves, Cap-Haïtien and other cities.
Development banks are among the largest sources of funding for Haiti, but sources have said that the money could dry up as protesters take to the streets and call for President Jovenel Moïses to resign.