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The president of Ecuador, Rafael Correa, proposed Saturday to countries attending the XXV Latin American Summit taking place in Cartagena, Colombia, the creation of a common fund for Haiti, recently devastated by Hurricane Matthew.

"Now it is shattered Haiti again, this time by Hurricane Matthew. I propose that each country of the summit commit to contribute to a common fund to help, " Correa said in the plenary summit.

Hurricane Matthew which made landfall in Haiti on October 4th, has devastated the southern peninsula of the country. 546 dead, 350.000 displaced, and caused about $2 billion dollars in damages, according to reports from local authorities.

Correa said that the best way to cooperate with Haiti is "with cash" for the Caribbean nation to determine "where and how it is invested" and proposed the "contribution by country of one hundred thousandth of the corresponding gross domestic product".

The area destroyed by Matthew, considered the breadbasket of the country, more than 175,000 people lost their homes, while thousands live in precarious conditions, according to UN experts.

Correa also thanked the support his country received after the earthquake in April which generated losses to Ecuador for more than three percentage points of GDP.