Financial Times

WB support for Lankan tsunami recovery reaches $150 mln
The World Bank last week announced a total $150 million in financial support for the country's tsunami reconstruction and recovery program. The $75 million emergency credit/grant approved is in addition to the $75 million made available earlier this month as an immediate response to the tragedy.

Total financing needs for Sri Lanka's recovery and reconstruction are estimated to be approximately $1.5 to 1.6 billion, according to a damage and needs assessment released earlier this month by the World Bank in partnership with the Asian Development Bank and the Japan Bank for International Cooperation. The World Bank funding approved last week, the bank said in statement, will further contribute to this recovery by assisting the tsunami-affected people in rebuilding their damaged houses, restoring livelihoods, and reactivating the delivery of basic services to the devastated areas.

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