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We at the Caribbean Development Bank are deeply saddened by the news of the massive earthquake which our member country, Haiti, experienced on January 12, 2010. Our deepest sympathies go out to the Government and all residents of Haiti, as they struggle to cope with this major tragedy.

The effects of the earthquake on the people and economy are catastrophic, particularly at this time when significant progress was being made in overcoming longstanding development challenges facing the country. Haiti will need considerable international development assistance.

The Caribbean Development Bank will provide up to USD200,000 for immediate disaster relief, to provide potable water, food, medicines and temporary shelter; and USD500,000 for restoration of critical facilities and services. In collaboration with our international development partners, the Caribbean Development Bank will also address the medium and long-term rehabilitation needs of Haiti.