IDB Agrees with Haiti’s Government to Launch Five-Year Recovery and Development Plan

IDB President Ilan Goldfajn (right) and Alfred Fils Metellus, Haiti’s Minister of Economy and Finance, show off the agreement signed for Haiti’s five-year recovery and development plan .

Introduction to the Plan

WASHINGTON, CMC – The Inter-American Development Bank (IDB) says it has agreed with Haiti’s government to launch a five-year recovery and development plan process for the French-speaking Caribbean Community (CARICOM) country.

The IDB said that, at its request and under its leadership, the bank will coordinate this joint effort with the World Bank, the United Nations, and the European Union.

The Agreement

The agreement on the Medium-Term Recovery and Development Plan for 2025-2030 was formalized in a joint statement signed by IDB President Ilan Goldfajn and Alfred Fils Metellus, Haiti’s Minister of Economy and Finance, on the sidelines of the IMF and World Bank Spring Meetings, which are currently underway in Washington.

The IDB said that this partnership between Haiti and multilateral institutions builds upon the Rapid Crisis Impact Assessment, led by the World Bank, which outlined and quantified urgent priority needs in the metropolitan region of Port-au-Prince.

Statement from IDB President

“The IDB is fully committed to leading this initiative with our global partners. The Medium-Term Recovery and Development Plan for 2025-2030 is a joint effort designed to strengthen Haiti’s resilience and lay the groundwork for a more stable and prosperous future,” said Goldfajn.

“By bolstering Haiti’s economy through private-sector-led growth, enhanced human capital, and strengthened institutions, we aim to create conditions for lasting peace,” he added.

Statement from Haiti’s Minister of Economy and Finance

Metellus said Haiti is at a crucial moment, and this partnership is essential to charting a sustainable path forward for the country.

“By prioritizing regional investment and fostering territorial economic development, we can promote stability and create new opportunities across the country, benefiting all Haitians.”

Key Focus of the Plan

The IDB said a key focus of the plan will be to identify and prioritize critical investments for regions outside Port-au-Prince, establish a roadmap for medium-term development, and promote alternative economic hubs to strengthen growth and drive sustainable development.

Pillars of the Plan

The plan is built around three pillars: bolstering economic development and strengthening the private sector for rapid, inclusive, and sustained growth; enhancing delivery of basic services and development of human capital; and improving institutional capacity, the rule of law, justice, and security.

Implementation of the Plan

The IDB said the plan would first focus on creating a pole of economic development in the Great North and then move sequentially to other territories that offer opportunities.

The IDB, the government of Haiti, the World Bank, and the United Nations have initiated technical meetings to identify critical investments for the Great North.

“These collaborative efforts address key needs and challenges and promote sustainable development across various regions. Haiti’s government officially announced the plan in Port-au-Prince on April 10 in an event that brought together ministers, government representatives, and donors,” the IDB.

It added that the plan responds to a request from the governors at the 2024 IDB and IDB Invest Annual Meetings in Punta Cana, Dominican Republic, where ministers urged the IDB to take a central role in supporting Haiti’s recovery and long-term development.

Conclusion

The five-year recovery and development plan for Haiti is a significant step towards creating a more stable and prosperous future for the country. The plan’s focus on regional investment, economic development, and institutional capacity building will help promote stability and create new opportunities for all Haitians.

Frequently Asked Questions

What is the purpose of the five-year recovery and development plan for Haiti?

The purpose of the plan is to strengthen Haiti’s resilience and lay the groundwork for a more stable and prosperous future.

Who are the partners involved in the plan?

The partners involved in the plan include the IDB, the government of Haiti, the World Bank, the United Nations, and the European Union.

What are the three pillars of the plan?

The three pillars of the plan are: bolstering economic development and strengthening the private sector, enhancing delivery of basic services and development of human capital, and improving institutional capacity, the rule of law, justice, and security.