World Bank Restores
Development Aid To Honduras
TEGUCIGALPA (Reuters) - The World Bank
said on Wednesday it is restoring
development aid to Honduras that it had
frozen after a coup toppled President Manuel
Zelaya.
World Bank Managing Director Juan Jose
Daboub told a news conference in the
Honduran capital that the bank would restore
a planned loan of $270 million and add $120
million in new credit, for a total of $390
million, following the inauguration of a new
elected president in the country.
Aid agencies and donor nations agreed to an
international aid freeze that amounted to
$450 million after the June 28 coup that
ousted Zelaya. Last month, the United States
promised to restart aid, as other nations
have begun to normalize relations with the
impoverished Central American country.
"For the World Bank, it is important to say
that we are here to continue supporting the
Honduran people ... especially the most
vulnerable in society," said Daboub.
Honduras received about $1 billion a year in
foreign loans, humanitarian aid and
subsidized Venezuelan fuel before the coup,
representing around 20 percent of its
national budget.
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