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IDB grant.

IDB GRANT. The Inter-American Development Bank (IDB) said Dec. 8 it approved a $17.5 million grant to Haiti to attract investment and foster private sector development by strengthening the institutional capacity of the country's investment promotion agency, the Center for Investment Facilitation, and other government agencies that are entrusted with business climate policy. The grant comes at a time when Haiti's economy, devastated by the 2010 earthquake, is growing at an annual rate of 5%. The country received an all time record of $181 million in foreign direct investment (FDI) in 2011. Haiti has considerable potential to expand its exports of apparel and agriculture, given the country's special trade access to the US and the European Union. Tourism is another promising area, as is the construction of infrastructure to replace or expand roads, homes, public buildings and water and electricity grids.
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Title Annotation:HAITI
Publication:Caribbean Update
Geographic Code:5HAIT
Date:Jan 1, 2013
Previous Article:Increase in tourist arrivals.
Next Article:$50 million education grant.

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