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Date: Wed, 13 Nov 1996 17:28:32 -0800 (PST)
From: Robert Corbett <bcorbett@netcom.com>
Subject: IADB OKS $27M LOAN FOR HAITI
To: Bob Corbett <bcorbett@netcom.com>
Message-ID: <Pine.3.89.9611131757.A24063-0100000@netcom13>

IADB OKs $27M for Haiti small-scale infrastructure project

Dow Jones Emerging Markets Report, 13 November 1996

WASHINGTON, Nov. 13 - The Inter-American Development Bank (IADB) on Wednesday approved a $27 million soft loan for Haiti for a program that funds small-scale social and economic infrastructure projects meant to benefit the poorest groups.

Projects cost an average of $75,000 and include areas such as the rehabilitation of schools and sanitation systems, irrigation system construction, literacy programs and health programs for children and pregnant women, the IADB said in a release.

The loan, along with local counterpart funds of $3 million, is financing the second phase of a program started at the end of 1995. The IADB said the Haitian government decided to continue with the program because there was a large demand for its projects from communities and grassroots organizations and it had shown to respond rapidly.