News

MIF to Assume Responsibility for Clinton Bush Haiti Fund Portfolio

By: Caribbean Journal Staff - December 20, 2012

Above: operations at Project MediShare, which received grants from the Clinton Bush Haiti Fund (Photo: CBHF)

By Alexander Britell

The Multilateral Investment Fund will be assuming responsibility for the portfolio of the Clinton Bush Haiti Fund, which is scheduled to wind down operations Dec. 31, the Inter-American Development Bank announced Thursday.

The MIF, a member of the Inter-American Development Bank Group, and the Clinton Bush Haiti Fund have signed an agreement transferring the Fund’s remaining grants to the MIF.

The fund was launched in January 2010 by former US Presidents George W Bush and Bill Clinton following the earthquake in Haiti, seeking to promote job creation and economic growth in the country.

“We are honored to have the trust and support of the Clinton Bush Haiti Fund,” said MIF General Manager Nancy Lee in a statement. “We share a common vision and approach to empowering Haiti’s people through access to finance, to markets and skills, and to basic services and green growth. We welcome this chance both to increase our presence in the country and to work with new partners.”

The news answers the question of what was to become of the commitments of the fund, which announced it would close earlier this month.

It received more than $55 million in contributions from over 200,000 individuals, businesses and organizations, helping to fund projects from Haitian insurance companies to hotel developments.

The Clinton Bush Fund said it selected the MIF to assume its portfolio because of its focus on private-sector-led development.

“We appreciate the MIF’s leadership as they step in to manage our programmes and investments,” Clinton Bush Haiti Fund CEO Gary Edson said in a release. “We have a high degree of confidence in the strong teams they have both here and on the ground in Haiti.”

The Fund said it has committed “both cash and repayments” from its remaining loans to the MIF. The MIF will then use those to invest in programmes and activities in Haiti “consistent with the shared mission of economic opportunity,” the IDB said.

Popular Posts w punta cana

A New All-Inclusive W Hotel Is Opening This Year in Punta Cana 

The first-ever all-inclusive W Hotel in the Caribbean is opening this year in Punta Cana, Dominican Republic, Caribbean Journal has learned.  The hotel, part of a broad expansion for parent company Marriott International, is on the list of expected 2024 […]


Why Grenada Is a New Caribbean Luxury Hotspot

beach house silversands

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


Related Posts haiti spirit airlines cap-haitien

Spirit Relaunches Flights to Cap-Haitien, Haiti

Spirit Airlines has relaunched its flights from Fort Lauderdale to Cap-Haitien on the northern coast of Haiti.  The low-cost carrier resumed the service between Fort Lauderdale-Hollywood International Airport and Cap-Haitien International Airport on Dec. 3.  The service is the only […]


Eastern Airlines Is Launching Flights to the Dominican Republic

dominican republic eastern airlines

The revived Eastern Airlines is back in the Caribbean.  The new iteration of the once-legendary carrier is set to launch expanded Caribbean flights in December with service to Santo Domingo, Dominican Republic.  Eastern Airlines will be launching twice-weekly flights from […]


From The Bahamas to Jamaica, The Talking Heads’ Caribbean Love Story

bahamas talking heads jamaica

Talking Heads drummer Chris Frantz’s new book, Remain in Love, is a billet-doux to his bandmate and wife of more than 40 years, bassist Tina Weymouth, as well as documenting the couple’s musical journey together — first, as part of […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You