A nonprofit set up by former U.S. Presidents Bill Clinton and George W. Bush has issued nearly $2.6 million in loans and grants to help Haitian businesses and job training programs.

The money given by the Clinton Bush Haiti Fund goes to projects such as renovations at an oceanfront hotel in southern Haiti, training of nursing faculty at a college, small business loans and purchase of equipment for a construction company. The average interest rate on the loans is 3.5 percent.

The Washington, D.C.-based nonprofit was created after the 2010 earthquake in Haiti to strengthen the poor country's economy by supporting Haitian nonprofits and businesses.

The announcement was made Wednesday.