The Inter-American Development Bank (IDB) has approved a $41 million grant for the fifth and last phase of the Caracol Industrial Park (CIP), the main manufacturing hub in northern Haiti. The CIP contributes to economic development in the north of the country, a priority for the Haitian government, by offering attractive conditions for companies to invest and generate formal employment.
The current stage of the project aims to create 5,400 new jobs, of which about two-thirds will be filled by women. By end-September CIP employed 7,620 workers, and its goal is to reach 20,000 positions by 2020. The industrial park also helps strengthen Haiti´s economic diversification and export profile.