India: Emergency Tsunami Reconstruction Project

WASHINGTON, May 3, 2005- The following project was approved today by the World Bank’s Board of Executive Directors:

 

 

IDA CREDIT AMOUNT: $465 million

TERMS: Grace period = 10 years; Maturity = 35 years

PROJECT DESCRIPTION: This project’s main objective is to support reconstruction and recovery efforts in Tamil Nadu and Pondicherry, areas that were particularly hard hit by the Asian tsunami of December 2004. This is part of a total Bank support of $528.5 million for tsunami recovery operations in India. The Emergency Tsunami Reconstruction Project is expected to help repair or reconstruct about 140,000 damaged houses in Tamil Nadu and Pondicherry and will assist with the reconstruction of public buildings, revival of livelihoods in fisheries and agriculture, as well as with capacity building in housing reconstruction and coastal management.  More importantly, the project takes into account the government’s premise not to rebuild vulnerabilities.   For more information, please call Karina Manasseh at (202) 473-1729 or email kmanasseh@worldbank.org.  For project information documents, visit: http://web.worldbank.org/external/default/main?pagePK=64027221&piPK=64027220&theSitePK=362340&menuPK=362374&Projectid=P094513