Tags: CB | Haiti | Earthquake

Bill Clinton Announces New $20M Haiti Loan Fund

Thursday, 17 Jun 2010 10:46 PM

 

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink

Former President Bill Clinton announced a plan Thursday to help Haiti recover from the Jan. 12 earthquake with loans to small and medium-size businesses backed by aid from the world's richest man.

Clinton said Mexico's Carlos Slim would contribute half the seed money for the new $20 million fund. The other half would come from Canadian businessman Frank Giustra. Both men were with the former president at a news conference in Port-au-Prince to announce the fund, which is expected to grow from additional contributions and earnings from the loans over time.

Money from the fund will be loaned to Haitian businesses that otherwise might not have access to capital in a nation that was already desperately poor before the earthquake that killed an estimated 300,000 people and destroyed about 105,000 homes.

"We hope to empower entrepreneurs with the tools to transform their aspirations, hard work, and good ideas into profitable businesses that create jobs and help fuel the growth of the Haitian economy," the former president told reporters.

Clinton, a U.N. special envoy to Haiti, was in the country to attend the first meeting of the Interim Haiti Reconstruction Committee, which will oversee the more than $5 billion pledged by the international community for reconstruction.

The $20 million fund is a project of the Clinton Foundation, through the Clinton Giustra Sustainable Growth Initiative, and Fundacion Carlos Slim, a philanthropic organization created by the Mexican telecom magnate who this year surpassed Microsoft co-founder Bill Gates as the world's richest man.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

US Crude Plunges 10% in Biggest One-Day Drop Since 2009

Friday, 28 Nov 2014 21:41 PM

U.S. crude tumbled 10 percent in its biggest one-day drop in more than five years on Friday, and benchmark Brent broke b . . .

National Protests Over Ferguson Briefly Close Malls, Shut Down Trains

Friday, 28 Nov 2014 21:20 PM

Demonstrators temporarily shut down two large malls in suburban St. Louis on one of the busiest shopping days of the yea . . .

Next Partisan 'War' in New Congress Will Be Over Science

Friday, 28 Nov 2014 19:58 PM

After midterm battles, an immigration standoff and amid a switch of power in Congress, the next political fight in Washi . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved