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Tuesday, 15 February, 2005

Maldives tsunami damage 62 percent of GDP: World Bank

The Maldives will need massive amounts of aid to recover from last December's tsunami, which left damages in the Indian Ocean nation amounting to 62 percent of its gross domestic product, the World Bank said.

The country would need some 304 million dollars "to effectively implement a recovery and reconstruction strategy," according to a preliminary tsunami assessment released by the the World Bank along with the Asian Development Bank and United Nations Development Programme.

The assessment estimates total damages in the Maldives to be about 470 million dollars, which is close to 62 percent of GDP.

Read the Full Article at Yahoo News
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