Home ownership is a luxury in the earthquake-damaged neighborhoods of Haiti, but the Clinton Bush Haiti Fund will help provide mortgages to low-income residents in the island republic. It will provide $3 million to a program that is also financed by the Overseas Private Investment Corporation (OPIC) and the Haiti Reconstruction Fund (HRF), totaling $47 million in all. The project is still pending approval from the OPIC board, and the Development Innovations Group (DIG) will manage it once approved.
Created after the horrific 2010 earthquake in Haiti, the Internet Haiti Recovery Commission (IHRC) approved the project and has been gathering funds from donors, non-governmental organizations (NGOs), and private contributors. The seed funding will help Haitian banks, lenders, and micro-finance lenders provide loans to Haitians for home repairs and purchases.
Similar programs have been successfully implemented in other parts of the world, particularly in developing countries. Representatives from the Clinton Bush Haiti Fund hope the effort will provide some economic stability and sustainability for Haiti's future.
After the devastating earthquake in Haiti in January of 2010, U.S. President Barack Obama called on former presidents Bill Clinton and George W. Bush to raise money to help the people of Haiti rebuild. The joint venture was named the Clinton Bush Haiti Fund , and it has since provided millions to bring relief to the people of Haiti.
For more information about the Clinton Bush Haiti Fund or to make a donation, visit ClintonBushHaitiFund.org or text "QUAKE" to 20222 to donate $10 via mobile phone.
"Haitian Children" Image Courtesy: B Pete.