News

Haiti to Receive $40.5 Million Grant For Caracol Industrial Park

By: Caribbean Journal Staff - January 2, 2014

Above: the Caracol Industrial Park in Haiti (IDB Photo/Patricio Zambrano-Barragán)

By the Caribbean Journal staff

Haiti will soon receive a $40.5 million grant to help expand the country’s Caracol Industrial Park, following approval by the Inter-American Development Bank.

The IDB said the resources would help the government’s efforts “to attract more job-generating investments in an economically disadvantaged but potentially productive region.”

The park, which opened in April 2012, has signed four tenants totaling 3,000 jobs.

The first two phases of the Caracol park project received $105 million from the IDB. The United States government donated the electricity generation plant that powers the park’s factories.

The IDB said the new grant would include resources for “small infrastructure projects” in local communities, including road improvements, bicycle lanes and bus stops.

The IDB is financing a total of $1.4 billion in projects in Haiti.

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