2010-02-10 15:30:54 - The Union of South American Nations (Unasur) sets up reconstruction fund for Haiti worth $100 million ... the agreement was reach at a meeting in Quito yesterday.

VHeadline News Editor Patrick J. O'Donoghue reports:

The organization has called on the Inter-American Development Bank to offer a $200 million credit for further reconstruction work ... Unasur will guarantee and back credit payments at the lowest interest rate.

Haitian President, Rene Preval was present at the emergency meeting.

There was some grandstanding on the part of the Peruvian President Alan Garcia when he proposed that the reconstruction work be led by the Haitian government, fending off any threat of prominence by President Chavez and countries belonging to the Bolivarian Alliance for the Americas (ALBA) that have definite ideas on how the reconstruction work should develop.

The proposal was passed, however, despite queries from Ecuador and Argentina.

Trade tariffs on Haitian goods should be

lifted, the final document urged, as Unasur backed a UN call for Haiti's foreign debt to be canceled.

None of the member countries offered to cancel Haiti's debt to them, except Venezuela, which has already taken steps to cancel the money owed it by Haiti.

President Chavez was unable to attend the meeting but Foreign Minister Nicolas Maduro stated that his country was engaged in "integral solidarity" with Haiti and criticized US involvement in the humanitarian effort.

Haiti continues in emergency, Maduro said, and will be for months to come.

The new fund will be administered by an Unasur committee, which will work directly with the Haitian government.

The greater part of the fund will go towards infrastructure and agricultural projects.

Patrick J. O'Donoghue
news.editor@vheadline.com

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