The EU fields a team to tsunami hit Asia to decide how € 350 mn should be spent.

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The European Commission will field a team to tsunami hit Indonesia and Sri Lanka today, to best decide how to spend € 350 mn for reconstruction work. The European Commission will field a team to tsunami hit Indonesia and Sri Lanka today, to best decide how to spend € 350 mn for reconstruction work.

The team will identify potential projects and priorities for the aid funds lined up, working with the government and donor reconstruction needs assessment that is ready.

“The European Investment Bank will join the mission to plan implementation of its loan package (Indian Ocean Tsunami Facility), which will finance large scale infrastructure redevelopment and initiatives to revitalise private sector activity in the region,” the Commission said in a statement on Tuesday.

Commissioner for External Relations and European Neighbourhood Policy, Benita Ferrero-Waldner, will visit Sri Lanka and Indonesia next month, taking over from ex-Commissioner Chris Patten.

“The European Commission responded to the Tsunami disaster with immediate and effective humanitarian assistance. We now need to prepare a smooth transition to the reconstruction phase,” Co