Private donors pledge over half of US$ 2 bn in tsunami aid

The World Bank says over half of US$ 2 bn in tsunami aid pledges are from private donors, but warns better co-ordination is needed among aid agencies and 200 Non-Governmental groups. The World Bank says over half of US$ 2 bn in tsunami aid pledges are from private donors, but warns better co-ordination is needed among aid agencies and 200 Non-Governmental groups. “It is estimated that over US$ 2 billion has been committed, excluding debt relief, of which about one half consist of private donations,” the Bank said in a its Development Outlook released ahead of a donor aid meet in Kandy on May 16 and 17.

But though commitments are huge, the timing and size of actual assistance is still uncertain. Bulk of the private donations though, will be available for reconstruction work, the Bank says.

“The unusually large size of private donations, which are typically channeled for humanitarian relief, means that a large part of these funds will available for reconstruction.”

Donors have put the tsunami rebuilding tab at about US$ 1.5 bn. That is seven percent of GDP or one and a half times the country’s capital budget.

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