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Rediff.com  » News » $ 1.213 bn: Cost of tsunami rehabilitation

$ 1.213 bn: Cost of tsunami rehabilitation

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April 29, 2005 20:21 IST

Finance Minister P Chidambaram on Thursday told the Lok Sabha that international funding agencies have estimated post-tsunami rehabilitation and reconstruction to cost $ 1.213 billion.

"A preliminary damage and needs assessment report prepared by the Asian Development Bank, the United Nations and the World Bank has estimated the overall rehabilitation and reconstruction needs for post-tsunami activities to be $ 1.213 bn in the short and medium term for Andhra Pradesh, Kerala, Tamil Nadu and the Union Territory of Pondicherry," he said.

While the needs of Tamil Nadu have been assessed at $ 868.3 mn, those for Andhra Pradesh, Kerala and Pondicherry have been estimated at $ 72.6 mn, $ 157.7 mn and $ 114.4 mn, respectively, he said.

Chidambaram said an emergency Tsunami Reconstruction Project for Tamil Nadu and Pondicherry involving World Bank assistance of about $ 456 million has been recently negotiated.

In addition, the ADB Board has approved a Tsunami Emergency Assistance Project of approximately $ 200 million for Kerala and Tamil Nadu, he said.

 

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