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Tsunami Reconstrucion Funding Shortfall is Over $4 Billion

March 19, 2005

by Kevin Caruso

The cost of aid and reconstruction for four countries affected by the tsunami is short by more that $4 billion, according to the Asian Development Bank (ADB).

The data was released by the ADB as part of its “Tsunami Recover Tracking Matrix,” and was presented at a one-day international conference in Manila on March 18th.

The ADB estimates that $7.76 billion will be needed by Indonesia, Sri Lanka, India, and the Maldives, but only $3.54 billion has been committed so far, leaving a deficit of $4.22 billion. (Although Thailand was badly hit by the tsunami, it is not part of the tracking matrix because "it has not sought international assistance for rehabilitation or reconstruction needs," according to the ADB.)

ADB president Haruhiko Kuroda is concerned that international attention is moving away from the tsunami disaster which is causing contributions to wane.

"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.

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