Representatives from a dozen countries, the UN, the World Bank and the International Monetary Fund (IMF) are gathering in Canada on Monday to plan for long-term recover for Haiti.

The meeting will take place in Montreal, often referred to as Haiti's second capital due to the thousands of Haitians living there, and will bring together high-ranking officials such as U.S. Secretary of State Hilary Clinton and French Foreign Minister Bernard Kouchner among others.

"This conference is an initial albeit critical step on the long road to recovery," Canadian Foreign Minister Lawrence Cannon told ABC News."

"Together with the Government of Haiti we need to roll up our sleeves and begin to lay the groundwork for the enormous task ahead."

One of the largest items on the meeting's agenda will be about cancelling Haiti's near $1 billion foreign debt, which many have said stands in the way of the country's proper recovery.

"[It] would be both cruel and unnecessary" to make Haiti repay loans while it is struggling to overcome cataclysmic devastation, Oxfam Canada Executive Director Robert Fox told the New York Daily News.

Officials have said that funds that would otherwise be directed towards relieving debt must be redirected towards building Haiti's roads, schools, and other essential infrastructure.

Faith-based advocacy group Kairos Canada says Haiti's debt should be cancelled not only in light of the recent tragedy but also because of the history of financial injustice the country has faced from previous dictators, foreign creditors, and programs imposed by the IMF.

According to Kairos, thousands of Haitian rice farmers lost their jobs in the 1990's when the IMF forced the country to slash tariffs on rice imports. Kairos also noted that Haiti had to submit to "harsh" Structural Adjustment Programs to receive new loans from the IMF – an initiative that some critics have said amounts to blackmail.

"Far from being an act of charity, debt cancellation and new assistance in the form of grants must be seen as reparations for the enormous historical debt owed to the people of Haiti for centuries of exploitation," the group said in a statement.

Kairos is directing its supporters to sign the One International-sponsored Drop the Haitian Debt petition, which is aiming to get 150,000 signatures by Friday, Jan. 29. The petition is being supported by groups such as Caritas Internationalis, World Vision, and the International Red Cross.