Funds from this initial contribution are available for rapid disbursement from existing programs for emergency reconstruction in Indonesian and other effected countries.
The massive earthquake and resulting tsunami that hit south and eastern Asia on December 26, 2004, required a coordinated humanitarian response by the countries impacted as well as the international community. The World Bank Group's initial contribution to relief efforts, announced just days after the event, is made available to those countries that requested immediate assistance, including Maldives, Sri Lanka, and the country hit hardest by the tsunami, Indonesia. Bank Group President Wolfensohn will travel to Indonesia on January 3, 2005 to attend an Assocation of Southeast Asian Nations (ASEAN) meeting on the disaster and visit tsunami-hit areas. Subsequent funding by the Bank Group and collaboration with other multilateral organizations and countries will be announced over the coming months.
The resolution sets out the terms and conditions for transfering US$25 million to a trust fund for emergency support of the Government of Indonesia's tsunami recovery activities.
The paper concerns the restructuring of three ongoing projects to facilitate the timely delivery of financial assistance to tsunami-affected areas.
The proposal describes potential financial support for Indonesia's post-tsunami disaster recovery program and provides an update on recovery efforts already underway.
Video date: Jan. 12, 2005
President Wolfensohn addresses the media upon his return from his trip to Indonesia and tour of affected areas.