Industry & Economy
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Natural Calamities
`Tsunami reconstruction to cost India $1.2 b'
Our Bureau
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The assessment puts productivity losses at $450 million.
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New Delhi
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March 14
REHABILITATION and reconstruction in the four tsunami-affected States and territories in India will cost about $1.2 billion, a damage-and-needs assessment report prepared jointly by the World Bank, Asian Development Bank (ADB) and the United Nations (UN) has said.
The report was prepared at the request of the Union Government.
The assessment report estimated that the overall damage to assets is about $575 million and that the productivity losses are at about $450 million.
The reconstruction estimate is higher than these damages, as it takes into account the replacement of the damaged assets with new ones not only of equal value, but also upgrades to services and infrastructure.
The report pointed out that Tamil Nadu is the worst affected with reconstruction needs estimated at $868 million, followed by Kerala ($158 million), Pondicherry ($114 million) and Andhra Pradesh ($73 million).
It assessed the damage and needs both State and sector-wise, and said that the largest proportion of damage was concentrated in housing, fisheries, restoring livelihoods, and to some extent in infrastructure and agriculture. Reconstruction needs for housing are estimated at $490 million and fisheries at $285 million.
A draft summary report was submitted to the Government on February 18.
The Government has agreed with the findings.
The final report was released on Monday. Following the needs assessment, the World Bank, ADB, and the UN are in discussion with the Government to determine the nature of support from each agency and arrangements for the reconstruction programme.
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