World Bank says mining can help Haiti reduce poverty

WASHINGTON,Aug.4, CMC – Mining is one way to reduce poverty and promote economic growth in Haiti. This is according to the World Bank which states t hat while mining is a “complex sector”, when managed in a transparent and sustainable fashion, this sector could be beneficial to the nation.



The Washington-based financial institution said this is one of the main conclusions stemming from Haiti’s first Mining Forum held under the auspices of Haiti’s Council of Economic and Social Development (CESD) with support from the World Bank, the Ministry of Economy and Finance and the Ministry of Public Works.



“This event marks a seminal step towards a shared vision of mining development in Haiti,” said Deo Ndikumana, World Bank’s senior country officer for Haiti.



At the Mining Forum, international and national experts shared knowledge on the mining sector with representatives from the government, private sector and civil society .



Alexander Medina, the director of the Mines and Energy Office in the neighboring Dominican Republic, said “mining has made a very positive contribution to the Dominican Republic, creating jobs, supporting economic growth and providing income to the government.”



Gerardo Castillo, Professor at the Catholic University of Peru, argued that transparent management of mining income is “key to overcoming social tensions.”



For example, he said the Conga project – the largest expected investment in Peru (US$5 billion) – “has been put on hold due to massive local and regional opposition,”



The World Bank said a new law, strengthened institutional capacity, and transparency are “critical next steps to unblock the exploration of Haiti’s gold and copper potential and pave the way for this promising new wealth-generating sector.”



“By 2020, we want to see the emergence of Haiti”, said Haitian Prime Minister, Laurent Lamothe.



“To achieve this, we are counting heavily on the contribution of the mining sector, which clearly has the potential to strengthen and diversify our economy”, he added.



According to the World Bank ,Haiti’s mining sector is currently constrained by an “outdated legal framework, weak institutional capacity and widespread lack of information about the sector among the press, members of parliament and the general public.”



The bank said it will be providing expertise to help improve the policy and legal frameworks for mining.



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