Himalayan News Service

Kathmandu, December 31:

World Bank announced that it would provide $250 million for emergency reconstruction in the immediate aftermath of the tsunami disaster in different Asian countries. “This amount will cover the next six months while further financing for longer-term reconstruction needs is identified,” said the World Bank.

“The executive directors of the World Bank Group discussed yesterday the tsunami crisis affecting Asia and eastern Africa,” stated a press release issued here today by the bank. Bank management was requested to consider additional ways to further increase the support as the needs are determined. The $250 million can be made available quickly from existing programmes, and will include the provision of emergency ‘credits and grants’ to respond to the immediate needs in the countries hit by this disaster. Countries that have requested immediate assistance include Indonesia, Maldives and Sri Lanka.

“The World Bank is in direct contact with affected governments and development partners, including the United Nations, the Asian Development Bank, the Japan Bank for International Cooperation, and other donors, to ensure a coordinated approach. World Bank experts across different sectors are working closely with government officials and experts from other agencies to plan for a quick assessment of the damage in these countries and priorities the reconstruction efforts.”

To ensure the coordination of emergency efforts within the UN framework, James D Wolfensohn, World Bank president participated in conference calls between UN secretary-general Kofi Annan, heads of UN agencies, ambassadors of affected countries, and the core donor support group comprising the United States, India, Australia and Japan.