July 22, 2009 No. 20/09 - BD NEWS RELEASE CDB APPROVES COUNTRY STRATEGY FOR HAITI The Board of Directors of the Caribbean Development Bank (CDB) has approved a Country Strategy which outlines the Bank's assistance strategy for Haiti for the period 2009-2012. Formulation of the strategy involved an assessment of the development challenges confronting Haiti, as well as the Government of Haiti's development agenda in response to those challenges. It was arrived at after extensive discussions with the Government, the private sector, several non-governmental organisations. CDB also engaged in broad consultations with other development partners operating in Haiti to avoid duplication and to enhance donor coordination. The major objectives of the CDB strategy for Haiti are to provide support to the Government's macroeconomic stabilisation initiatives; strengthen Haiti's economic growth and poverty reduction prospects; provide support to industries with significant growth and job creation potential within a short time frame; accelerate support to human resource development by greater attention to the use of new technologies; and to provide support to food security and re-forestation initiatives. Haiti is the newest CDB member country, having joined the Bank in January 2007.