|
Honduras wins aid pact tied to human rights, anti-corruption efforts
mongabay.com
July 10, 2005
|
Pico Bonito, Honduras' highest peak.
More pictures of Honduras
|
Last month Honduras became to second country to receive aid under the controversial Millennium Challenge Account program when it signed a five-year $215 million funding deal. The Millennium Challenge Account gives grants to countries committed to respecting the rule of law and reducing corruption. The program has recieved a great deal of criticism for its slowness in distributing funds. So far only Madagascar and Honduras have qualified for aid under the plan, though officials say that aid pacts have been approved and are likely to be signed this summer by Nicaragua and Cape Verde.
According to the terms of the deal, Honduras will use its Millennium Challenge grant funds to improve the productivity of its farmers and upgrade roads to increase rural accessibility. As part of the award, Honduras must continue its commitment to battling corruption and improving the country's economy and legal systems.
Honduras, one of the poorest countries in the Western Hemisphere with an extraordinarily unequal distribution of income and massive unemployment, is nevertheless experiecing a high rate of economic growth. The country is banking on expanded trade under the U.S.-Central America Free Trade Agreement (CAFTA) and on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative according to the CIA World Factbook. GDP per capita stands at around $2,800 using purchasing power parity and most of the country's trade is with the United States. Lately Honduras was placed new emphasis on building its tourist industry and some say the country has the potential to follow in the footsteps of fellow Central American country, Costa Rica, where ecotourism has become one of the most important industries.
News index | RSS | Add to MyYahoo!
Advertisements:
Organic Apparel from Patagonia | Insect-repelling clothing
| |
|
MONGABAY.COM
Mongabay.com seeks to raise interest in and appreciation of wild lands and wildlife, while examining the impact of emerging trends in climate, technology, economics, and finance on conservation and development (more)
CONTENTS
POPULAR PAGES
T-SHIRTS
Madagascar Wildlife
Dancing lemurs
Don't fall asleep the sloths will eat you
Sucking on this frog may make you insane
CALENDARS
Mount Kenya
East Africa Safari Wildlife
Kenya's Turkana People
Peru
African Wildlife
Alaska
China
Madagascar Chameleons
CANVAS BAGS
Hallucinogenic frog bag
Madagascar wildlife bag
|
|
