Tsunami reconstruction funds fall short of $4.22b

Tsunami reconstruction funds fall short of $4.22b

Karl Wilson, Agence France-Presse/Manila

Funds raised so far to help rebuild four of the countries worst
affected by the Indian Ocean tsunami disaster fall short by
US$4.22 billion, the Asian Development Bank (ADB) said on Friday.

According to ADB data some $7.76 billion is be needed by
India, Indonesia, the Maldives and Sri Lanka for rehabilitation
and reconstruction.

So far, only $3.54 billion has been committed by donor nations
and agencies, leaving a funding gap of some $4.22 billion, the
bank said, revising its earlier estimate of a $5.25 billion
shortfall.

The data is contained in a "Tsunami Recovery Tracking Matrix"
which was presented at a one-day international conference
organized by the ADB at its Manila headquarters.

The Dec. 26 disaster, triggered by a massive undersea quake
measuring 9.0 on the Richter scale, killed more than 270,000
people.

Those attending the conference include ministers from India,
Thailand, Indonesia, Maldives, Sir Lanka; representatives from 28
ADB member countries; United Nations agencies; the World Bank;
International Monetary Fund, Islamic Development Bank, the
private sector and non-government organizations (NGOs).

A spokesperson for the ADB said the matrix "is not
definitive."

"There are still a lot of gaps that need to be filled in but
it is a start. It is hoped it will be used as a fundamental
planning tool for donors, affected countries, NGOs and the like
to get a broad view of what is needed, where the aid is needed
and how much will it cost."

According to the ADB's figures the cost for rehabilitation and
reconstruction in affected parts of India is estimated at $1.21
billion of which $791.3 million has been committed.

Indonesia will need $4.72 billion of which $1.70 billion has
been committed, the Maldives $406.3 million with $187.2 million
committed and Sri Lanka $1.42 billion and $864 million.

Thailand was not included in the matrix as "it has not sought
international assistance for rehabilitation or reconstruction
needs," according to the ADB.

ADB president Haruhiko Kuroda said at the opening of the
conference that the distribution of the billions of dollars
pledged must be "predictable, transparent, strategic and
effective.

"As the recovery effort now moves from initial relief to
rehabilitation and reconstruction, it is essential to keep the
world's attention focused on continued support and ensure that
donor confidence in our efforts remains high," he said.

He told the conference that in India almost 700 kilometers of
roads were damaged while in Indonesia's Nanggroe Aceh Darussalam,
the worst affected areas, some 44 percent of the population were
affected.

"These are just a few examples of the tsunami's massive
footprint," he said. "Clearly, the rehabilitation and
reconstruction needs across all sectors must be addressed in
order to meet this huge challenge."