Tsunami rehab measures estimated at $1.2 bn: FM

P Chidambaram told the LS that international funding agencies have estimated the overall post-tsunami rehabilitation at $1.213 bn.

Finance Minister P Chidambaram on Friday told the Lok Sabha that international funding agencies have estimated the overall post-tsunami rehabilitation and reconstruction activities at $1.213 billion.

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"A preliminary damage and needs assessment report prepared by the Asian Development Bank, the United Nations and the World Bank has estimated the overall rehabilitation and reconstruction needs for post-tsunami reconstruction activities at $1.213 billion in the short and medium term for Andhra Pradesh, Kerala, Tamil Nadu and Union Territory of Pondicherry," he said during Question Hour.

While the needs of Tamil Nadu have been assessed at $868.3 million, those for Andhra Pradesh, Kerala and Pondicherry have been estimated at $72.6 million, $157.7 million and $114.4 million respectively, he said.

Chidambaram said an emergency Tsunami Reconstruction Project for Tamil Nadu and Pondicherry involving World Bank assistance of about $456 million has been recently negotiated with the World Bank.

In addition, a Tsunami Emergency Assistance Project involving ADB assistance of approximately $200 million for Kerala and Tamil Nadu has been recently approved by the Asian Development Bank Board, he said.

Later, the Finance Minister said that the multilateral aid agencies reacted promptly in response to Indian Government's request and prepared assistance packages for tsunami reconstruction in consultation with the state governments and the Centre.