$121 Million Strategy

The World Bank on Tuesday approved a new four-year, $121 million lending strategy for Haiti, the Western Hemisphere's poorest country, that focuses on economic growth, jobs and reducing the impact from natural disasters.

"With this new strategy, we are supporting Haiti's own efforts to put the difficult events of last year firmly behind it, and return to a path toward longer term growth and development," said Yvonne Tsikata, the World Bank's Country Director for the Caribbean.

"The country faces great opportunities, as well as huge challenges, and it needs strong and sustained support from the World Bank Group and other international partners."

The United Nations has some 9,000 peacekeepers in Haiti, which has long been afflicted by political instability and violence and was heavily damaged by hurricanes last year.

It is beset by high poverty, poor basic services and unemployment levels, while deforestation has left the country almost treeless.

Former U.S. President Bill Clinton was named on May 18 as U.N. special envoy to Haiti in a move to attract investment to the country.

The World Bank said its lending plan provides assistance through a mix of investment projects and development policy measures. At the same time, the Bank said it aims to stimulate private sector development with help from the International Finance Corporation, the Bank's private-sector lender.

IFC said it had identified agricultural and textile manufacturing sectors as potential growth areas for Haiti.

"We are working with the government and investors to identify key feasible actions and priorities that will together have the greatest growth impact," said Atul Mehta, IFC director of the Latin America and Caribbean department. (Reporting by Lesley Wroughton; Editing by Gary Hill)