World Bank cancels Haiti debt

WASHINGTON  _ The World Bank says it is canceling $36 million in debt Haiti owes to help the Caribbean nation’s reconstruction efforts after a devastating earthquake struck Jan. 12. Haiti, the poorest nation in the Western Hemisphere, now has no further payments due to the Washington-based lending institution. The bank said Friday the debt cancellation […]

WASHINGTON  _ The World Bank says it is canceling $36 million in debt Haiti owes to help the Caribbean nation’s reconstruction efforts after a devastating earthquake struck Jan. 12.

Haiti, the poorest nation in the Western Hemisphere, now has no further payments due to the Washington-based lending institution.

The bank said Friday the debt cancellation was made possible by contributions from Japan, Canada and 11 European nations.

Since the earthquake, the bank said, it has provided Haiti $479 million in grants for recovery and development through June 2011.

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