The Hindu : International : Sri Lankan tsunami damage put at $1 billion

Online edition of India's National Newspaper
Thursday, Feb 03, 2005

International

International

Sri Lankan tsunami damage put at $1 billion

By V.S. Sambandan

COLOMBO, FEB. 2. A preliminary damage and needs assessment report by the World Bank and two other international agencies has estimated that Sri Lanka would need around $1.5 billion to "effectively implement" a recovery and reconstruction strategy following the massive destruction caused by the December 26 tsunami.

Assessment for India

The assessment for India, which commenced on February 1, "is expected to be completed by the end of the month."

The report, by the Asian Development Bank (ADB), the Japan Bank for International Cooperation (JBIC) and the World Bank, estimated the overall damages at about $1 billion, equal to 4.4 per cent of Sri Lanka's Gross Domestic Product.

A "large proportion" of the losses was concentrated in housing, tourism, fisheries and transportation.

Around $500 millions would be required as "external financing in the short term" for the current year.

The report called for "transparency" and "inclusiveness" in the reconstruction operations.

The assessment, which was prepared in "close co-operation" with the Sri Lankan Government, "sets out clear guiding principles" for reconstruction, with "an important emphasis on the inclusion of affected communities" in planning and rebuilding.

At least, 31,000 persons were killed 6,300 are reported missing and nearly 4.43 lakh persons displaced by the tsunami. "Of those killed, 27,000 belonged to fishing families. Around 65 per cent of the fishing fleet — 29,700, boats — has been completely destroyed or damaged," the report said.

Hardest hit

Among the hardest hit were the people in eastern districts, described by the report as those who were "already vulnerable due to the civil conflict," which bore "well over 40 per cent of the total damage."

The tsunami's damage to the island-nation's education system has been estimated at $21 millions, with 168 public schools and 18 vocational centres damaged.

In the health sector, "around 92 local clinics, hospitals and drug stores were either destroyed or damaged, causing disruptions to delivery of health services and patient care."

Significant losses were also sustained in power, transportation (roads and railways), water supply and sanitation.

The damage to the tourism sector was estimated at $200 million, and the estimated inflow of tourists was revised downward from the all-time high of five lakh visitors in 2003, to 1 lakh for the current year.

It was also "imperative that all key stakeholders in this: the Government, the international community, civil society and the LTTE, agree upon a transparent monitoring and accounting system for all the resources," the report said.

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