President Leonel Fernandez has proposed the creation of a “mini-Marshall Plan” for the recovery of Haiti during his participation in the Rio Summit of Unity in Mexico. As a way of financing such a plan the President suggested the Latin American nations set aside a portion of the foreign debt. He went on to tell reporters from Telesur television channel in Mexico that Haiti needed a “long-term and sustainable development plan”, and the only way to achieve this was to dedicate at least US$2 billion a year for the next ten years.
President Fernandez specified that the funds would be used for infrastructure such as schools, hospitals and the electric system.
He said that his government would present a proposal on these lines to the World Bank, the Andean Promotion Corporation and the European Union.
The Haitian earthquake, with an estimated death toll of around 300,000, is among the worst natural disasters in recorded history.