Earthquake In Haiti

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Earthquake in Haiti: Financial Relief for Haiti Few months back, Haiti was struck by an earthquake, which left the nation in total ruins. The diminutive prosperity Haiti had was wiped out by the earthquake. Haiti is a poor nation and thus, lacks adequate financing. Financial relief can be given to the people of Haiti to help them recover from the catastrophe. Such financial relief can come in the form of donations from organizations and individuals, funding by financial institutions, reconstruction and development effort, starting up small businesses. As known to the world, Haiti is the poorest country in the Western Hemisphere. It is also an under-developed country, even its Government can’t really do anything about its nations dire poverty. Haiti is a nation that is also environmentally degraded. All these are factors that consist of the financial downgrade of Haiti. Haiti can be assisted financially in various ways. Some of the ways Haiti has been assisted finacially are: Distribution of cash by micro lender, J.P. Morgans, President Obama’s plegde to Haiti to be their partner in the reconstruction, recovery and development effort and setting up of a start-up competition to help the Haitians recover from the crisis. A micro lender was able to distribute cash in Haiti more quickly than traditional banks (Margolis and Conger. para.1). This shows how microcredit can play a larger role in disaster recovery. Late in the afternoon of Jan. 22, $2million in cash rolled out of J. P. Morgans Chase Headquaters in an armored car in Maimi and headed to the homestead Air Force Base from where it was loaded onto a C-17 transport plane and dispatched to Haiti (Big Crisis, Small Help). J. P. Morgans is a leading global investment and financial services firm with global scale and reach. The dispatching of the cash was done by a financial institution, Fonkoze. Fonkoze was the
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