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    Haiti receives $ 75 million from World Bank to drive job creation

    The World Bank Board has approved a $ 75 million grant. International Development Association (IDA) For Haiti’s private sector work and economic transformation projects. The project aims to drive labor demand by supporting the Ministry of Micro, Small and Medium Enterprises (MSME), promoting economic recovery and creating sustainable jobs.

    The project has impacted 4,000 companies and key outcomes include improving the resilience of 51,000 jobs and creating about 10,000 jobs. World Bank Said in the media release.

    “Haiti has experienced a cycle of low growth and limited poverty reduction due to frequent economic contractions. The COVID-19 pandemic is already in a difficult situation,” he said. Laurent Msellati, Country Manager, World Bank, Haiti.. “This grant will help drive the growth of Haiti’s private sector with a focus on women-owned companies. The main purpose of this initiative is to access MSME’s financial and business development services. Creating jobs by strengthening. Encouraging the growth of these Haitian small businesses helps the country reduce poverty, stop violence and create a more positive future for Haiti people. Is essential for. “

    The World Bank’s BoD has approved a $ 75 million grant from the International Development Association (IDA) for Haiti’s private sector employment and economic transformation projects. The project aims to drive labor demand by supporting the Ministry of Micro, Small and Medium Enterprises (MSME), promoting economic recovery and creating sustainable jobs.

    In recent years, the private sector has been affected by a series of socio-political crises. The COVID-19 pandemic and the August 2021 earthquake have exacerbated the already difficult business environment. Private sector employment and economic transformation projects improve the growth potential of viable SMEs, contribute to economic diversification and enhance economic resilience to climate change and natural disasters.

    “By focusing on private sector employment and economic transformation, this project is part of a post-COVID-19 economic recovery plan aimed at providing strong incentives for growth and job creation.” I am. Haiti’s Minister of Economy and Finance Michel Patrick Boibert.. “At the start of the project, special care will be taken to ensure that SMEs in the earthquake-affected areas can benefit from improved access to financial and support services.”

    The project also supports the resilience and growth of the value chain through improved business development services and greater access to financial resources.

    Fiber2Fashion News Desk (KD)

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    Haiti receives $ 75 million from World Bank to drive job creation

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    The post Haiti receives $ 75 million from World Bank to drive job creation appeared first on Eminetra.

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