The World Bank said Wednesday it planned to extend an additional 100 million dollars in emergency aid to Haiti to help recovery and reconstruction from a devastating earthquake.
The grant money would help the impoverished Caribbean nation recover from a massive 7.0-magnitude quake Tuesday that caused extensive damage and casualties, the bank said in a statement.
“This is a shocking event and it is crucial that the international community supports the Haitian people at this critical time,” Robert Zoellick, president of the multilateral development lender, said in a statement.
“The World Bank is mobilizing significant financial assistance and sending a team to help assess damage and reconstruction needs. Our thoughts are with the people of Haiti, our staff, and our UN colleagues.”
The funding is subject to approval by the institution’s board of directors, said the 186-nation bank, headquartered in Washington. The statement did not provide a date for the board decision.
The World Bank noted that its International Development Association had extended 308 million dollars in interest-free loans to Haiti since 2005.
The bank currently has 14 main projects there, including disaster risk management.
Zoellick said the bank would use its existing projects in Haiti, including those that focus on education and community-driven development, “to provide assistance quickly and effectively.”
The bank said it was sending experts to work with the Haitian government and its international partners to assess needs and losses and plan for recovery and reconstruction.
The Global Facility for Disaster Reduction and Recovery, a multilateral support system, has allocated 250,000 dollars for that assessment, the Washington-based bank said.
“Going forward, the World Bank plans to provide seed resources to establish a multi-donor trust fund, the Haiti Reconstruction Fund, to mobilize international support for recovery and reconstruction process.”
