World Bank Disburses US$790,000 in Credit Funds to FHIS

The World Bank (WB) has begun disbursing funds again to the Honduran Fund for Social Investment (FHIS). The director of FHIS, Carlos Hernán Banegas, said yesterday that the WB provided US$790,000 in credit funding for various projects under the Our Roots Program (Programa Nuestras Raíces), which is designed to improve the living conditions and preserve the cultures of indigenous peoples and those of African heritage, including the Pech, Nahuas, Tawahkas and Garifunas by strengthening the financial and capacity building institutions of these communities. Mr. Banegas acknowledged that his agency is also expecting disbursements from the Inter-American Development Bank (IDB) to follow shortly.

The WB "paused" all lending programs to Honduras shortly after the ousting of President Manuel Zelaya on June 28. Honduras is scheduled to receive approximately $80 million in low-interest loans from the WB during fiscal year 2010. "What is interesting," said Mr. Banegas "is that international organizations are now responding to us again."

FHIS oversees a wide variety of development efforts, including road construction, clean water and sanitation, education and training, healthcare, and community building projects. According to the WB, some 2.5 million people, mostly the very poor, have benefited from FHIS investments covering a total of 2,888 projects.