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Haiti Fund Created by Clinton and Bush to Close Haiti: Fund Created by Clinton and Bush to Close
(about 1 hour later)
A pro-business fund that was created by former Presidents Bill Clinton and George W. Bush in the aftermath of Haiti’s devastating earthquake nearly three years ago will cease operations at the end of this month, an executive for the organization said Friday.A pro-business fund that was created by former Presidents Bill Clinton and George W. Bush in the aftermath of Haiti’s devastating earthquake nearly three years ago will cease operations at the end of this month, an executive for the organization said Friday.
The executive, Meg Galloway Pearce, vice president of marketing and communications, said the Clinton Bush Haiti Fund would terminate Dec. 31 after spending all the $54.4 million it raised from businesses, organizations and individuals.The executive, Meg Galloway Pearce, vice president of marketing and communications, said the Clinton Bush Haiti Fund would terminate Dec. 31 after spending all the $54.4 million it raised from businesses, organizations and individuals.
“We never intended to be an ongoing operation,” Ms. Pearce said. “Now that the money is gone, we step back.”“We never intended to be an ongoing operation,” Ms. Pearce said. “Now that the money is gone, we step back.”
The Washington-based fund was formed shortly after the 2010 earthquake at the request of President Obama, who asked the two former presidents to lead private fund-raising efforts, initially for immediate relief and then for long-term reconstruction projects that sought to create jobs.The Washington-based fund was formed shortly after the 2010 earthquake at the request of President Obama, who asked the two former presidents to lead private fund-raising efforts, initially for immediate relief and then for long-term reconstruction projects that sought to create jobs.
The goal was to wean Haiti from aid dependency and help develop the country’s private sector. On its Web site, the Clinton Bush Haiti Fund said it created or sustained up to 7,350 jobs and trained as many as 20,050 people.The goal was to wean Haiti from aid dependency and help develop the country’s private sector. On its Web site, the Clinton Bush Haiti Fund said it created or sustained up to 7,350 jobs and trained as many as 20,050 people.
Still, it prompted some observers to wonder why Haiti needed another international agency to focus on developing private businesses instead of on brick-and-mortar reconstruction or agricultural projects.Still, it prompted some observers to wonder why Haiti needed another international agency to focus on developing private businesses instead of on brick-and-mortar reconstruction or agricultural projects.