[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]
#4594: Re: #4589: half-billion dollars in foreign aid? (fwd)
From:PPARYSKI@aol.com
Most of the assistance funding held back by the donors are soft loans by the
World Bank and the Inter-American Development Bank (IDB). These loans
require approval by parliament. Even if parliament eventually approves these
loans, interest will be due from the time the funds were originally
allocated, making the loans more costly. I imagine that some of the funding
has already been reallocated to other countries. World Bank and IDB loans
are generally used for large investments in infrastructure such as roads or
irrigation systems. Some funding from the European Union may also be
blocked. The funds from bi-lateral donors, such as USAID, tend to be more to
be more linked to political agendas.
In actual fact, Haiti has benefitted from an enourmous amount of fundinng
from the donor community, perhaps more per capita than any country except
Israel. Unfortunately, a percentage, but not a majority, of the funding
always goes back to the donor due to spending regulations, such as requiring
the donor to purchase equipment in the donor country or to use donor
nationals as consultants or project managers. Also unfortunate is the fact
that most donor funding in Haiti has been badly used or in some cases
personally profitted those in postions of power. It is considered shameful
to be a minister and not have a magnificent road leading to one's properties
or house(s).
Paul Paryski