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Former US President Clinton Announces $20M Haitian Business Fund

Former U.S. President Bill Clinton has announced a $20 million fund to support small- and medium-sized businesses in earthquake-ravaged Haiti.

Mr. Clinton make the announcement Thursday in Haiti, along with Mexican billionaire Carlos Slim and Canadian businessman Frank Giustra, who each plan to donate half the seed money for the fund.

In a statement, Mr. Clinton said the fund recognizes the important role small- and medium-sized enterprises play in helping to build a self-sustainable economy in Haiti.

The announcement came shortly before the inaugural board meeting of the Interim Haiti Reconstruction Commission, which is being chaired by Mr. Clinton and Haitian Prime Minister Jean-Max Bellerive.

The commission is overseeing assistance to the Caribbean nation. The powerful January 12 earthquake killed at least 217,000 people and left one million homeless. Many of the homeless are still living in tent cities.

Mr. Clinton is the U.N. special envoy to Haiti.

Some information for this report provided by AP.